iPayGuru – Seamless payment solutions for tomorrow’s sales mechanisms. A fully functioning secure global payment gateway, the intelligent solution to secure online transactions and payment settlements, combined with a global foreign exchange management system and execution platform.
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If you look deeper at the data, what you see is that while sales in North America (US and Canada markets) are growing, it’s not at the rate that online sales are growing in emerging regions such as Asia-Pacific.
In fact, ecommerce is growing significantly in the BRIC countries – Brazil, Russia, India and China, with China alone expected to surpass the US ecommerce market. So let me rephrase my initial opening…
There has never been a better time to start thinking about your international ecommerce strategy.
Cross-border shopping is not something you typically see in the US because there’s such supply. But consumers in many markets can’t get the things they want domestically and this presents a significant opportunity for US retailers.
Already we see significant ecommerce occurring between the United States and Canada and there’s no question that the US-Canada corridor will continue to be the biggest cross-border opportunity for US retailers (depending on what’s sold). But getting access to even greater global demand should be on every retailer’s to do list – particularly when you look at the growth in demand in developing markets
In our own global online shopping study we found that 66% of consumers now shop online, and 40% had purchased goods from another country. There are still many misconceptions around online shopping, particularly in South Korea, India, China and Japan, where many consumers don’t realize they can buy goods outside their own country. For those that did shop cross-border, the most desirable e-destinations were the US, UK, and Germany. This is a trend that US retailers can tap into by demonstrating the ease and accessibility of shopping online.
Currently, the biggest US cross-border growth engines are Canada, the UK and Australia. But our research shows there is significant opportunity in markets like Brazil, Germany and China. And those markets – particularly Brazil and China – are growing at a much faster rate.
When is it right to go international?
One of the big questions you might be asking is, “Am I selling products that global markets want?” And at what price point does international Ecommerce makes sense? The answer might actually surprise you. We’ve found that the average order value across all types of goods is around US$120. There is a lot of demand for lower value goods. This is especially true for Canada because shipping is relatively cheap relative to overseas markets.
Despite its distance, Australia is another strong market for US retailers. This is largely due to the duty threshold of $1000 Aussie dollars and lack of local supply which makes it cheaper and more practical to get goods cross-border, even if you factor in shipping from the US.
Historically, the highest volume of cross-border purchases are luxury goods/brands such as apparel, jewelry, shoes, etc. And while apparel has been the leader in Ecommerce sales, as the price point for shipping comes down we are starting to see the product categories expand- for example, selling auto parts to Australia.
The key to determining if you have something that is saleable in another market is to look at the market from a local perspective. What kind of supply is there for a product like yours and at what price point? What kind of selection is there? This information will help you decide if it’s a market you can do well in.
In our global Ecommerce study we asked the primary reasons why consumers shop outside their country. The top three reasons included price (68%), availability (46%), and selection (38%).
Cross border shopping doesn’t come without its challenges.
If you are going to have a successful international Ecommerce strategy, these are the things you’ll want to pay particular attention to:
-Shipping costs and tracking visibility
-Clarity in cross-border fees at the time of purchase (i.e., duty/taxes)
-Reasonable product delivery times.
Data security is another top concern within a number of markets. The good news is all these barriers to cross-border shopping can be dealt with by leveraging partners that have this expertise.
Your international ecommerce strategy.
If you have decided that it’s time to get your international Ecommerce strategy in order, there are a few things to think about.
-The most important thing you need to do is provide clarity and accuracy into the online buying process, transparency and certainty in delivery, and competitive pricing. These are table stakes. To do these things you will need to think about and plan for customs and brokerage management, import and export management, international address validation, optimized global shipping, denied parties screening, parcel protection and more. Sound overwhelming? It can be – but you don’t have to do this all yourself – there are companies out there (including ours) that specialize in providing these services.
-But let’s take it a step further – let’s start with your website. This channel is your face to the world. When an international shopper visits your website, welcome them and speak in their language – make sure they understand that you understand their culture and their shopping preferences. If you don’t tell them otherwise, they will assume that you think they are just another domestic shopper, which creates uncertainty. And language doesn’t mean the language they speak. It’s important to clearly show the costs and implications of buying from you, which means presenting costs in their currency including taxes/duty, shipping, etc. Even more than showing it, you need to follow through on the promise of cross-border retail by delivering goods in a reasonable time and with clear tracking visibility. You’re intent should be to create an experience that mirrors that of your domestic shoppers, which makes the customer feel comfortable enough to buy from you in the first place, and to come back again and buy more. And be sure to stay consistent throughout the process. If you want to use local language or currency, make sure you’ve thought through the implications for post-order emails, packing slips, customer service, etc.
Two-thirds of the world’s purchasing power is outside the United States. That’s 790 million international customers who are potential new customers for US retailers. Today, only 50% of US online retailers engage in cross-border ecommerce. It’s clear that the opportunity is significant and growing quickly, so take advantage of what could potentially be an extremely profitable channel for new revenue.
The ability to deliver an efficient and competitive seamless payments processing service to the industry. Give your customers the online shopping experience they deserve with simple and friendly checkout options. Whether they are using Visa or MasterCard credit cards, or checking out from different parts of the world, they will be able to pay seamlessly through alternative payments options. Credit card fraud can cost a business millions if not managed properly and the cost may be more than just the cash, reputational risk is just important for the long term health of a business. With some powerful fraud prevention tools, our risk management team will secure you against online fraud, and keep your business safe.
iPayGuru is a leading global payment platform that allows companies to accept online and mobile payments from buyers worldwide, with localized payment options. Capabilities include a pre-integrated payments gateway, merchant account, PCI compliance, international fraud prevention, and integration with more than 100 shopping carts. We remember the bad old days: reams of paperwork, surprise fees, and confusing PCI compliance procedures. We engineered Stripe to let you start accepting payments in less than 10 minutes. Accept all major cards from customers around the world on web or in mobile apps. Design the experience yourself or drop in Checkout, our pre-built, conversion-optimized form. Save card details so customers can pay again with a single click.
You don’t need to be a payments expert to support the newest features that improve customer experience and conversions. With one, unified platform, you’ll be ready to immediately support new tools like Apple Pay, sell products directly from tweets, accept 135+ currencies, and more. Achieve PCI-DSS compliance for your payments just by implementing Stripe’s client-side tokenization in Stripe Elements or our iOS and Android bindings. No sensitive data hits your servers, so it’s more secure and saves you work.
The history of the Internet begins with the development of electronic computers in the 1950s. Initial concepts of packet networking originated in several computer science laboratories in the United States, United Kingdom, and France. The US Department of Defense awarded contracts as early as the 1960s for packet network systems, including the development of the ARPANET. The first message was sent over the ARPANET from computer science Professor Leonard Kleinrock’s laboratory at University of California, Los Angeles (UCLA) to the second network node at Stanford Research Institute (SRI).
Development of EC applications started in the early 1970s with electronic funds transfer (EFT), which refers to the computer-based systems used to perform financial transactions electronically. However, the use of these applications was limited to financial institutes, large corporations, and some daring businesses.
Electronic data interchange (EDI) was then developed in the late 1970s to improve the limitation of EFT. EDI enlarged the pool of participating company from manufacturers, retailers, services, and others. Such systems were called Interorganizational System (IOS).
An Interorganizational System (IOS) allows the flow of information to be automated between organizations to reach a desired supply-chain management system, which enables the development of competitive organizations.
From the 1990s onwards, electronic commerce would additionally include enterprise resource planning systems (ERP), data mining and data warehousing.
The term ‘electronic commerce’ was coined in the early 1990s when Internet became commercialized and users began flocking to participate in the World Wide Web. EC applications were then rapidly expanded.
Possibly EC is introduced from the Telephone Exchange Office. The earliest example of many-to-many EC in physical goods was the Boston Computer Exchange, a marketplace for used computers launched in 1982. The first online information marketplace, including online consulting, was likely the American Information Exchange, another pre-Internet online system introduced in 1991.
History of ecommerce is unthinkable without Amazon and Ebay which were among the first Internet companies to allow electronic transactions. Thanks to their founders we now have a handsome ecommerce sector and enjoy the buying and selling advantages of the Internet. Currently there are 5 largest and most famous worldwide Internet retailers: Amazon, Dell, Staples, Office Depot and Hewlett Packard. According to statistics, the most popular categories of products sold in the World Wide Web are music, books, computers, office supplies and other consumer electronics.
Amazon.com, Inc. is one of the most famous ecommerce companies and is located in Seattle, Washington (USA). It was founded in 1994 by Jeff Bezos and was one of the first American ecommerce companies to sell products over the Internet. After the dot-com collapse Amazon lost its position as a successful business model, however, in 2003 the company made its first annual profit which was the first step to the further development.
At the outset Amazon.com was considered as an online bookstore, but in time it extended a variety of goods by adding electronics, software, DVDs, video games, music CDs, MP3s, apparel, footwear, health products, etc. The original name of the company was Cadabra.com, but shortly after it become popular in the Internet Bezos decided to rename his business “Amazon” after the world’s most voluminous river. In 1999 Jeff Bezos was entitled as the Person of the Year by Time Magazine in recognition of the company’s success. Although the company’s main headquarters is located in the USA, WA, Amazon has set up separate websites in other economically developed countries such as the United Kingdom, Canada, France, Germany, Japan, and China. The company supports and operates retail web sites for many famous businesses, including Marks & Spencer, Lacoste, the NBA, Bebe Stores, Target, etc.
Amazon is one of the first ecommerce businesses to establish an affiliate marketing program, and nowadays the company gets about 40% of its sales from affiliates and third party sellers who list and sell goods on the web site. In 2008 Amazon penetrated into the cinema and is currently sponsoring the film “The Stolen Child” with 20th Century Fox.
According to the research conducted in 2008, the domain Amazon.com attracted about 615 million customers every year. The most popular feature of the web site is the review system, i.e. the ability for visitors to submit their reviews and rate any product on a rating scale from one to five stars. Amazon.com is also well-known for its clear and user-friendly advanced search facility which enables visitors to search for keywords in the full text of many books in the database.
E-Commerce and its relationship with the Human Race: Among emerging economies, China’s e-commerce presence continues to expand every year. With 668 million Internet users, China’s online shopping sales reached $253 billion in the first half of 2015, accounting for 10% of total Chinese consumer retail sales in that period. The Chinese retailers have been able to help consumers feel more comfortable shopping online. E-commerce transactions between China and other countries increased 32% to 2.3 trillion yuan ($375.8 billion) in 2012 and accounted for 9.6% of China’s total international trade. In 2013, Alibaba had an e-commerce market share of 80% in China. In 2014, there were 600 million Internet users in China (twice as many as in the US), making it the world’s biggest online market. China is also the largest e-commerce market in the world by value of sales, with an estimated US$899 billion in 2016.
The articles that will appear below are the premise of the writer. We have taken great pleasure from our own personal relationship with e-commerce
We are currently working on an even more secure 3D payment authorisation process and working with our partners in the financial services sector and a securitized global credit card.
Some of the Frequently asked Questions. We like to strip things back to their basic components and enable you, our clients to understand the nuts and bolts of what we do and how we do it. some of the most common questions are:
SOS Children’s Villages work to prevent family breakdown and care for children who have lost parental care, or who risk losing it. They work with communities, partners and states to ensure that the rights of all children, in every society, are respected and fulfilled.
In particular they do extensive work to protect vulnerable children associated with the gold mining industry in Africa. As such it is incumbent upon the founders of iPayGuru to support such a charity and we encourage you to do the same.
The Internet is the global system of interconnected computer networks that use the Internet protocol suite (TCP/IP) to link devices worldwide.
Approximately 3.2 billion people use the internet. Out of this, 1.7 billion of internet users are Asians. In fact, it is estimated that approximately 200 billion emails and 3 billion Google search would have to wait if the internet goes down for a day.
30,000 websites are hacked every day. Highly effective computer software programs are used by cybercriminals to automatically detect vulnerable websites which can be hacked easily.
First webcam was created at the University Of Cambridge to monitor the Trojan coffee pot. A live 128×128 grayscale picture of the state of the coffee pot was provided as the video feed.
Internet sends approximately 204 million emails per minute and 70% of all the mails sent are spam. 2 billion electrons are required to produce a single email.
First tweet was done on 21st March, 2006 by Jack Dorsey and the first YouTube video to be uploaded was “Meet At Zoo” at 8:27 p.m. on Saturday, April 23, 2005 by Jawed Karim.
The majority of internet traffic is not generated by humans, but by bots and malware. According to a recent study conducted by Incapsula, 61.5% or nearly two-thirds of all the website traffic is caused by Internet bots.
In 2005, broadband internet had a maximum speed of 2 Megabits per second. Today, 100Mbps download speeds are available in many parts of the country. But experts warn that science has reached its limit and fiber optics can take no more data.
The first spam email was sent in 1978 over ARPNET by a guy named Gary Thuerk. He was selling computers.
Online shoppers can buy cars, clothes and millions of other things with the click of a button and figurative swipe of a credit card. In fact, U.S. consumers spend $1,200-$1,300 per year online, but that number will increase by 44%, to $1,738, by 2016. In that year, ecommerce sales are expected to hit $327 billion.
By 2016 the total transaction value of mobile payments in the U.S. hit $62.24 billion. The user base is still relatively small, with only 7.9 million users in 2012. Usage should grow during the next few years to over 50 million mobile payment users by 2017.
51% of people who did not complete a purchase on a mobile device stopped because they did not feel comfortable entering their credit card details
81 percent of people research online before buying it either offline or online.
Only 60 percent of people use search engines to search the products, the rest 40 percent directly land on the ecommerce portals or have direct links
An average online shopper visits the target platform at least 3 times before finalizing the product.
33 percent of online sales take place after 6PM, likely due to the fact that people get back from offices around then, giving them some private time to think of themselves and their needs.