PAYSTAND BLOG

Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.

What Makes For a Great B2B Ecommerce Store?

When it comes to ecommerce, you may be surprised to learn that there are many similar requirements between B2B and B2C – such as the need for quality product images, intuitive navigation and a seamless customer journey. But B2B businesses also face their own unique challenges; factors like high sales volumes, long buying cycles and multiple decision makers getting involved along the way. This means they require a slightly different approach to the standard B2C business plan.

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Scott Campbell Scott Campbell on November 29, 2016

ecommerce, Payments, WooCommerce, B2B, magento

Beyond Paper Clips: The Pros and Cons of B2B eCommerce

Think about the last time you bought a computer or office supplies for your business. Did you buy them online, through a printed catalog, or in person at a big-box store? Increasingly, business buyers are just as comfortable using the Web for company purchases as they are using Amazon or BestBuy.com for personal shopping. A Forrester report found that 74% of B2B buyers use the Web to research over 50% of their work purchases, and 30% complete at least half of those purchases online.

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Jeremy Almond Jeremy Almond on July 27, 2015

ecommerce, business, eCheck, B2B

Should You Stay or Should You Go? 5 Tips for Getting a Better Deal in Credit Card Processing

 

Most of the business owners we talk to have a "love/hate" relationship with credit cards. You love them because they enable your customers to buy things from you which they may not otherwise be able to buy, but you hate the transaction fees that take a big chunk out of your sales. 

We're here to tell you that when it comes to credit card processing, you don't have to "love the one you're with." New options for merchants, both online and at the point-of-sale, have exploded in the past few years. Many new entrants in the marketplace offer slick add-ons to mobile devices, but ultimately it's transaction costs that should drive your decision to stick with your current processor or move on. 

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Jeremy Almond Jeremy Almond on May 19, 2015

ecommerce, interchange plus, tips, business, merchant fees, credit cards, merchant statement

How Payments-as-a-Service Is Changing an Industry

What happens when you apply SaaS principles to payment processing?

You may not realize it, but you probably depend on multiple SaaS (Software-as-a-Service) products to get through your work day (and at home in the evenings, when you tune into your favorite streaming service). SaaS refers to an Internet-based service for which you pay a monthly subscription fee, and in return receive access to the latest improvements and technical support.

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Jeremy Almond Jeremy Almond on March 23, 2015

Bitcoin, ecommerce, Payments, payments-as-a-service, SaaS, eCheck

Are You Ready for Bitcoin to Go Mainstream?

When we launched PayStand almost one year ago, most of our early customers had never heard of Bitcoin, or if they had, they were skeptical about accepting it in their organizations. Silicon Valley is abuzz with development and investment in Bitcoin-related technology, but as in the early days of the Internet, there is speculation, volatility, and media frenzy surrounding the virtual currency. Several business owners and nonprofits we spoke with have adopted a “wait and see” approach, but like having the option to enable Bitcoin in the future. At PayStand we offer our merchants one payments platform with traditional methods alongside Bitcoin (which we call "eCash"), so they can extend the option to their customers when they're ready.

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Jeremy Almond Jeremy Almond on March 16, 2015

Bitcoin, paystand, online payments, ecommerce, Payments, small business

PayStand offers WordPress users Bitcoin options as the platform backs off from virtual currency

This week’s news that WordPress has removed the Bitcoin payment option from their website disappointed advocates of the virtual currency, as the company had been an early adopter and carries a great deal of influence as the most popular blogging and website creation platform.

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Jeremy Almond Jeremy Almond on February 26, 2015

Bitcoin, tools, online payments, ecommerce, Payments, WooCommerce, Wordpress, website

How Ugly Christmas Sweater Broke a December Sales Record Using PayStand with WooCommerce

 

Zac Cohen at UglyChristmasSweater.com was using PayPal

to accept credit card payments on their WooCommerce-powered site, but he was dealing with dropped orders and high shopping cart abandonment right before the holiday season. They knew they were about to get slammed on Black Friday, when a segment featuring their most outrageous sweater was set to air on the Kelly & Michael Show.

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Jonathan Beck Jonathan Beck on January 21, 2015

paystand, ecommerce, Payments, WooCommerce, How To

Is There Room for Improvement with Facebook's Social eCommerce?

Social eCommerce is big news and it's everywhere.....just Google "social eCommerce" and you will see a plethora of marketing advice, facts, and figures. The reason for all the hullabaloo is grounded in hard facts, social driven eCommerce is really bringing in the big bucks. Social media guides 74% of consumer purchases. The term “social media” usually conjures up images of the Facebook logo, but Facebook isn't the only social media site that's putting money into eCommerce retailer's pockets.

"In 2013, 75% of social generated eCommerce sales came from Facebook, Twitter, and Pinterest." - Infographic: Rise of Social Media in eCommerce

Pinterest is actually outselling Facebook in direct sales. According to a Javelin Strategy & Research report, Pinterest users' average order value is $123.50 which is about 126% more than Facebook users, whose average order value is $54.64.

The beauty products retailer, Sephora, adopted the use of Pinterest early on in the game. They were one of the first online retailers to include the 'pin it' button site wide.

"Pinterest followers spend more money than Facebook followers, and not just a little bit more. In fact, Pinterest users spend 15 times more on Sephora products than Facebook followers," VentureBeat.com

Pinterest is the clear winner when it comes to driving commerce. Is Facebook just a good customer interaction and engagement site, or could Facebook also be increasingly associated with shopping? Right now, shopping is an afterthought for Facebook users… you go to Facebook to find out what's going on with friends and family, glancing to the right you see an ad for a ring or some other item. Many will click on the advertisements and purchase from that retailer, but the shopping mindset is inherently different for users of Facebook. They largely go there to socially interact, not shop.

Researching products that a Facebook user may be looking to purchase in the future is the reason 39% of them 'like' brand pages. These brand pages will post ads that, in turn, post to 'friends' pages, giving that brand exposure and possibly customer engagement. What if there was a button to click right there on the post to purchase said item, without even moving from your feed?

Making it easier to purchase an item from a brand already 'liked' could improve Facebook's social eCommerce. This would not only make Facebook a page to keep up with friends and family, but a site to shop with social input, as well. This could also be used as a means to collect donations for an organization a Facebook user has 'liked' or sell crafted items made by the Facebook user.

Thankfully, PayStand has an incredible social shopping aspect of our eCommerce payment solution. We offer the improvement to Facebook's Social eCommerce that the merchants need. When posting products to your Pinterest, Twitter, Facebook profiles, followers are able to purchase the product directly from the page, without clicking over to a third party payment site, without having to sign up for any account, and without having to add the item to a cart on your website. All your social connections can buy right from within that site.

Contact Us today to find out how PayStand can help with social eCommerce. Our platform provides everything you need to accept payments anywhere, at anytime, on any device, from your website or social media pages.

Image Photo Credit: Edgar Barany via photopin cc

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Camille Brenkwitz Camille Brenkwitz on September 14, 2014

ecommerce

5 Easy Steps to Using Bitcoin as a Merchant

If you ask some industry experts, like web browser pioneer Marc Andreessen for example, twenty years from now we may all be looking at Bitcoin like it was just as important of a technological advance as the Internet itself. Now whether or not you agree with such a bold statement, if you are a merchant conducting business on the Internet, Bitcoin is something that may warrant your attention sooner rather than later.

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Camille Brenkwitz Camille Brenkwitz on September 1, 2014

ecommerce

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