June edition: Staying ahead in e-commerce

Strategies to boost your online sales

With a whopping 34% of shoppers now buying online every week, capturing their loyalty and standing out from the competition is more important than ever. Here are some effective strategies you can use:

• One-click payments: Reduce friction and increase convenience at the checkout by allowing returning customers to complete their purchases with a single click.
• Digital wallets: Integrate popular digital wallets like Apple Pay, Google Pay and PayPal to offer secure, fast and familiar payment options that customers trust.
• Flexible payment plans: Provide options like buy now, pay later (BNPL) to give customers the flexibility to manage their finances. This makes larger purchases more accessible and encourages repeat business.

By implementing these strategies, you'll be sure to reduce cart abandonment and drive consistent sales growth!

The importance of local acquiring for your business

Local acquiring is a way to process payments where the acquiring bank handling your business's transactions is located in the same region as your customer's bank. This might sound technical, but it's a game-changer for your payment processing strategy. Wondering why? Let's break it down:

1. Higher authorisation rates- local transactions are more likely to be approved because local banks understand regional customer behaviour and fraud patterns better. This means more sales and fewer declined transactions—win-win!
2. Lower transaction costs- Processing payments locally can significantly cut costs by eliminating extra fees like cross-border charges and currency conversion. For businesses with high transaction volumes, these savings add up quickly.
3. Faster payment processing- local payments speed through the system due to fewer logistical and regulatory hurdles. Faster processing means improved cash flow, which is crucial for maintaining smooth operations.
4. Compliance with local regulations- local banks are well-versed in regional laws, ensuring your transactions comply with local regulations and helping you avoid legal issues and fines.

By leveraging local acquiring, you'll optimise your payment process, save money and keep your business running smoothly.

Apple rolls out new Tap to Cash feature

Exciting news from Apple! iOS 18 introduces Tap to Cash, a feature that is set to revolutionise peer-to-peer transactions. With Tap to Cash, users can make payments by simply tapping two iPhones together. This innovative method offers quick and secure transactions without the need to share personal information, making it not only convenient but also highly secure.

Currently, Tap to Cash is available exclusively in the US for Apple Cash users. However, given Apple's global reach and the increasing demand for seamless payment solutions, it's only a matter of time before this feature gains worldwide traction. Imagine the convenience of splitting bills or paying friends with just a tap of your phone!

Could you see yourself using this new feature? Let us know in the comments!