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Shopping Carts

2Checkout is supported by an ever-growing list of third-party shopping carts.

Traditional shopping carts, like X-Cart and ClickCartPro, have supported 2CO for many years now. Others, like Summer Cart and ViArt, are more recent additions. 2CO is also supported by hosted shopping carts like 3DCart and hosted invoicing systems like FreshBooks.

We’re proud to recommend these carts and services and all of the others we’ve reviewed and confirmed for compatibility. You can see our entire recommended cart list, organized by category (PHP, ASP, Hosted Services, etc.), here. There’s a solution for almost every need and we’re adding more all the time, so check back frequently.

If you have developed a 2CO-compatible shopping cart and would like to have it included in our recommendations, please email us directly at integration@2co.com and we’ll be happy to provide all the information you need to confirm compatiblity.

E-Coupon Use Increases

An Internet News article reports that coupon use is becoming more and more popular when buying things online.

“The news comes at a time when online coupon use is experiencing unprecedented growth, as a new generation of bargain hunters — those who do not subscribe to newspapers or clip physical coupons — turn to the Internet for the convenience and vast selection realized by the digital format.”

This should not be surprising as more and more shoppers are looking to save money. Coupons have long been used to introduce new customers to products or a new store. As more shoppers turn to the Internet, it seems logical that coupon use would continue to grow.

Coupons are actually easy to integrate into an existing payment structure. Business week gives some very good example of how to integrate coupons with your existing marketing and payment programs. Some of my favorites are:

  • Customer loyalty - Giving frequent shoppers a discount on future purchases
  • Incentives - Giving an instant coupon to encourage a sale
  • Increasing add-on sales - Using a coupon to sell related items

If you would like to use coupons on your site, we provide helpful “how to” articles on Creating a Coupon as well as Changing Existing Coupons . Share any thoughts you have on coupons with the Community.

2Checkout Featured at Internet Dating Conference

Vic Cleary and Geno Arce from 2Checkout will be featured speakers at the Internet Dating Conference (iDate) in Beverly Hills, California Friday, June 26.

Cleary and Arce will provide internet dating executives and entrepreneurs a product demonstration of 2Checkout’s features and benefits explaining why 2CO is an excellent value for businesses competing in the online dating space.

iDate, the largest Internet Dating and Social Networking business management conference of its kind, is held twice in the U.S. and at least once internationally each year. Event topics include internet dating business strategies, payments, mobile technologies and marketing, social networks, and a number of legal and consumer safety issues.

In addition to Friday’s product demonstration, 2Checkout will also be compared to a variety of e-commerce options used by online dating companies in a discussion led by Courtland Brooks’ Director of Strategy, Glenn Millar at 9:00 a.m. the same day, titled “Removing the Veil: Payment Processor Rates and Options for Dating Companies”. Attendees interested in learning more can also speak to a 2Checkout representative at the company’s booth during the event’s Expo starting Thursday, June 24.

Why Small Businesses Can Win in This Economy

In a recent article on the Harvard Business Publishing website, Peter Bregman writes:

Small companies with low overhead, reliable owners, a small number of committed employees, personal client relationships, and sustainable business models that drive a reasonable profit are the great opportunity of our time.

He also make the case for establishing relationships with your customers. Something many of you are already doing.

We simply don’t trust companies anymore. We trust people.

This is something that I think most of us can understand. We are individual small businesses establishing relationships with individual customers. If Mr. Bregman is correct, we are the ones who will be winning in this economy. Nice to hear.

Having a Strong Refund Policy

We recently talked about building a community as a means of developing relationships with your customers. One positive result of having a strong community is the development of trust between you and your customers. With understandable fears of identity theft, establishing this trust can go a long way in making that initial sale.

Two other ways to gain the trust of potential customers is having a clear guarantee and a return policy. Both of these tell your customers that you are willing to stand behind your product. Making sure that your customers know your refund policy before purchasing directly reduces the number of chargebacks you will receive.

Continue reading…

Refund vs. Chargeback

What is the difference between a refund and a chargeback? They both give the customer their money back, but there are substantial differences between the two. A chargeback is is a forced refund from a bank/credit card provider. Once a chargeback is issued, there is no way to refund a customer.

Probably the greatest difference is that when a bank/credit card provider intervenes on behalf of their customer, they charge the merchant a fee.  A refund, on the other hand is between you and your customer with no banking fees to pay.  Additionally, a refund is an immediate resolution to a customer’s needs. In many cases a customer will be satisfied with a credit toward a future purchase or a replacement for the item rather than a refund.

Too many chargebacks will eventually get a merchant account closed. In the case of 2Checkout, this means that our merchant account is the one at risk. To protect our merchant account standing, we do everything we can to lower the number of chargebacks we receive . Even though the bank/credit card provider intervenes, you still have the option to challence the chargeback. Since the process involved in challenging a chargeback can be quite time consuming and complicated, you may want to contact a customer about the chargeback to resolve any issues and potentially get the chargeback reversed.

As you see a refund allows you the opportunity to communicate with your customer, to come to a resolution, and to avoid additional banking fees.  This is one of the reasons why it is a smart business decision to include a clear refund policy on your website.

PIN Debit Service Provider Expands Network of Customers

Acculynk’s unique PIN Debit payment method, PaySecure — utilized by 2Checkout — expanded its portfolio of participating networks yesterday with the addition of Credit Union 24 (CU24), the country’s largest credit union-owned ATM and point-of-sale network.

CU24 makes the fourth network to pilot the new system. PaySecure is unique to the business enabling shoppers to safely use their PIN debit cards for online purchases by entering their PIN into a pop-up, graphical, and scrambling keypad without leaving 2Checkout’s purchase routine.

Even though the project is still in its infancy, we anticipate the continued addition of large networks such as CU24 will boost the number of cardholders having access to the system, resulting in a steady increase in PIN Debit purchases throughout the year.

CU24 joins ACCEL/Exchange, PULSE, and NYCE as participating EFT networks. We will periodically provide additional updates as PaySecure’s network of customers continues to expand.

Pricing Strategy - Part 2

The Case Against Lower Prices -

In times of increased competition in a finite market, particularly when spending has been reduced, the question of how to increase sales arises. Economics and marketing provide us with many theories and strategies on how to make money - it is after all the basis of both areas of study.

There are different pricing models at odds here. One will tell you to offer the lowest price within your margins. This can result in higher short-term sales. That is, until your competition offers a lower price. What happens long-term with lowering prices? Does quality of the product/service lower as well? How about Customer Service and back end processes? If you eventually make only enough to just get by what parts of your business are you willing to sacrifice? Not to mention what happens when the economy stabilizes, how will your customers react when you start to increase your prices?

Continue reading…

Small Business Confidence is Up!

Great news! Small business owner confidence is on the rise, and by no small margin.

According to a recent blog published by Small Business Trends, “the Small Business Optimism Index shot up by almost 6 points, to its highest level so far in 2009.”

The National Federation of Independent Business (NFIB) has been the nation’s gauge for small business owner optimism for years and even though overall optimism is still at historic lows, a six-point jump is a considerable increase.

At the least, the increase raises some eyebrows. If the boost in confidence is for real and not just a temporary spike, then small business owner confidence has risen above December 2008 levels and close to marks recorded in October and November. Most impressively, a significant one-month increase the size of April’s spike over March has not been experienced in well over five years. Of course, disclaimers are always in order, as a jump in confidence could very well be temporary, but regaining positive ground in times of economic uncertainty is always enlightening for small businesses, especially those who have invested in technology and positioned themselves to sell online.

The big question remains — what does this increase mean for a small online business like yours? If the indicators are correct, it means it is time to increase inventory, fine tune your advertising campaigns and prepare your site for an increase in sales from the “pent up demand” consumers are feeling from buying less and hoarding trillions of dollars in personal savings accounts that are yielding dismal returns.

The tide could very well be turning. It’s never too early to fine tune your online business to ensure you are ready to capture the business generated from a significant increase in confidence.

2Checkout’s Patricia Hull to Speak at Windy City Summit

2Checkout.com is proud to announce that one of its treasury specialists and financial institution liaisons, Patricia Hull, will be a featured speaker at the 23rd Annual Windy City Summit, May 20-22, 2009 at the Hyatt Regency in Chicago.

The Windy City Summit features over 100 treasury management seminars for financial executives and treasury managers. This year’s session tracks cover banking, benefits and risk management, corporate financial and capital structure, fraud and compliance, collections, and payments, to name a few.

Hull will be speaking with Lynda Umbreit from KeyBank Thursday, May 21 at 3:55pm, in a session titled Creating Efficiencies Through Outsourcing the Payables Function. The session will focus on the efficiencies 2Checkout has realized by utilizing third parties to outsource its weekly payouts to vendors.

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