Dr. Glenn Gearhart CEO of World Market Vendor Services, Inc. provides News and Commentary

Ecommerce and Getting to the Cash Buyers

How to participate in eCommerce and not take credit card payments 

Cash based payments In previous posts I present and discuss that most eCommerce retailers are missing out on 85% of the world's payment transactions. That is because 85% of the payments are made as cash transactions. Businesses, that do no accept credit cards for payments, in general, cannot take online payments and are not able to participate in eCommerce business. This is because the standard online eCommerce payment services and payment gateways are structured solely to accept and process credit card payments. Because many businesses want to avoid the fraud losses and costs of credit card payments.

Intuit, the owner of Quick Books and GoPayment, recently did a survey in the US. To the surprise of many, the results show that 55% of US businesses do not accept credit card payments.

That means that nearly 15 million US businesses are not participating in eCommerce sales. These businesses are discarding the fastest growing segment of the retail industry. These businesses are blocking their path to cross-country eCommerce based growth.

But, as I have discussed in a number prior posts, the days of being excluded from participation in eCommerce based sales, and the growth that exist in cross-border market expansion, is no longer dependent upon a business being required to accepting credit cards. No longer do businesses have to accept the financial risks, fraud prevention costs and other costs associated with accepting online credit card payments.

There is a new kid in town. A kid that said, “Businesses should not be punished if they chooses NOT to accept credit cards, and should NOT be required to accept all of the fraud losses and costs associated with accepting credit cards.”
International Sales

With the help of a team of dedicated superstars, the long existing strangle hold of the credit card industry on the eCommerce industry is now broken. There now is a safe, simple, effective and efficient global alternative to accepting credit card payments.

By joining World Market all of these 15 million US businesses, that do not accept credit cards, can now enter the world of eCommerce. They can now enjoy the growth opportunities of selling their products to all online customers... all 2.4 billion!

The great services and benefits of World Market are not limited to just these 15 million US businesses, these amazing features and services (the ability to sell online without accepting credit cards) is now open to all merchants and vendors, worldwide.