Meeting the Payment Processing Needs of Enterprise eCommerce With CyberSource
When integrated with the right eCommerce platform, CyberSource offers the security and flexibility required for enterprise eCommerce implementations.
CyberSource payment integration for enterprise eCommerce increases processing security and user flexibility. Because of its inclination to merge with new systems, Clarity is becoming one of the industry’s most accessible and adaptable platforms for eCommerce. Enterprises that use the company's interface will benefit from the customizable aspects of the platform provider as well as from the added security that CyberSource offers. Clarity is the perfect solution for eCommerce enterprises that:
- Process extensive transactions
- Have complex billing requirements
- Need an easy way to update customer information in their systems
Payments are a fundamental element of any eCommerce company, which makes choosing the right payment managing company imperative. Clarity knows that its platform is just one cog in a massive ecosystem, and because of this, the company developed its technology, setup and business model to integrate with other processing systems. The inclusion of CyberSource makes Clarity a comprehensive platform provider.
Delivering Payment Choices
CyberSource payment integration offers options for enterprise eCommerce. For instance, the platform lets businesses process echecks and credit card payments. When it comes to echecks, integrated processing is fast and easy. The funds are usually deposited into an online company’s account within one to two business days while credit card processing requires an account with a credit card issuer. This type of account is basically a credit line that lets the eCommerce enterprise accept credit cards. Financial institutions set up the account. These banks also charge processing fees.
A payment platform gives Internet-based businesses a way to process purchase orders that were placed outside of the eCommerce system along with invoices that arrive through a company’s process management software. The platform also lets customers access these bills or invoices to pay them online.
Other major aspects of CyberSource integration include the ability to process payments for customers who place orders by calling the company to speak to an agent who then submits them through the eCommerce system. If companies have an established enterprise resource planning, or ERP, system, then orders can be placed through this system before the invoice is forwarded to the eCommerce platform where electronic invoice payment may be processed.
Other System Conveniences
When a customer shares his or her information with a company, the data is usually stored. The ability to update this information with ease is another CyberSource convenience since some systems make it tough for companies to complete this action. The company offers an integrated suite of dependable eCommerce transaction services to give its clients the option to personally manage or outsource their processing systems. Because of this, CyberSource is able to offer its services to clients who operate through eCommerce, point-of-sale, call centers and even temporary kiosks.
Customers who prefer to shop through eCommerce expect online interactions to be easy. Businesses can make this happen when they work with Clarity. The company gives its clients the utmost flexibility to begin and oversee their in-house or outsourced eCommerce operations. Clarity works with enterprise level businesses to provide access to payment processing systems that meet their needs.
To prevent fraud and increase customer security, an eCommerce-based enterprise can submit a preauthorization before shipping merchandise to a customer. Once the product is ready to go, the company will process a second authorization. It will then submit the payment through the system. This step is advantageous because it can avoid chargebacks from stolen credit cards. It can also prevent interchange fees for fraudulent charges since Visa and MasterCard wait until a charge is authorized and funded before charging these fees. Some systems are unable to process a preauthorization, but under Clarity’s platform, eCommerce enterprises have the added security option. A company’s existing ERP system will complete the remaining processing tasks, which involve sending the payment to the financial institution to complete the transfer of funds upon shipment.
The CyberSource integration also allows Clarity to offer advanced fraud management tools for even more protection. This includes confirming a credit card or debit card account immediately as well as tracking Internet protocol, or IP, addresses. Ensuring PCI compliance with CyberSource is another advantage, as compliance is required but can be difficult to navigate and maintain.
Planning for the Future
Not so long ago, brick-and-mortar stores were the epicenter of most people’s shopping experiences. Today, online shopping is flourishing. With this change, companies are facing new challenges that involve technology and security. During the Great Recession, online sales took a hit, but they are back and growing. In fact, from 2008 to 2014, sales almost doubled. According to reports, millennials spend the most online. In 2013, the average millennial shopper spent about $2,000. Statistics show that even though online sales are just a small amount of all retail sales, they are becoming a factor for companies. In 2001, the percentage of online sales was just 1 percent, but by 2012, these sales had grown to 5 percent. A year later, online sales increased to 6 percent. The market’s growth translates into an 11 percent eCommerce revenue increase during the first quarter of 2014 above the same time a year earlier.
Mobile payments are another area that eCommerce enterprises should consider expanding and embracing. A new study released by Gartner Inc. determined that by 2018, 50 percent of consumers from established markets will be using a smartphone or wearable device to make mobile payments. Consumers from North America and Japan are embracing the technology as are several Western European countries.
At Clarity, we customize web-based solutions for our clients. Whether you need access to payment processing software or a platform for billing, we have a professional staff with the skills to build a system for your business. For more information, contact us at Clarity. We offer free quotes along with consultations. Let us show you how we can tailor Clarity eCommerce for your project.