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

Online Cash Pay Trend

Walmart now offers online cash-pay purchases- You should too!

The fact that Walmart, at least in the US, has begun to accept online cash payments speaks volumes as to the future of online cash pay. Walmart is one of the world’s largest retailers and they did not get there by making mistakes about what consumers’ want and what they will use. The Walmart cash pay system is limited to online products and the buyer must visit a Walmart store to complete the transaction, but it is being warmly accepted.

The acceptance by Walmart customers, and by all global shoppers to World Market eCommerce services, is driven in part by one very important fact. According to one comprehensive study by MasterCard, only 15% of the world’s consumers possess, or use, a credit card for payments. The real take away of these study results is that 85% of the world’s shoppers pay cash. That means most of the 2.4 billion global internet users cannot shop online because they have no credit card to pay. That means that almost 2 billion internet users may be looking at your online displayed products, but they can never be a buyer.

According to Visa, 3.5 billion people around the world do not have any bank account! But they have cash, and access to a mobile phone and the internet. Does that mean World Market is destined to become the new global store to these billions of consumers?

From the yearly country by country reported eCommerce sales numbers, there is consumer demand for online shopping. With World Market now offering 2.4 billion shoppers Pay-Online-With-Cash™ service in 235 countries and 66 languages, we will soon begin to see the very massive buying power of 2 billion internet shoppers that can now spend cash online. Some eCommerce professionals are predicting the consumer response to online cash pay will be astounding.

However, my forecast is more conservative. There are billions of consumers that want to buy online. With World Market service they can and I am sure they will. I am also sure that every business in the world that ignores joining this shift to online cash pay technology, and fails to take immediate advantage of this massive opportunity, will miss out on sales and ultimately hand their market share over to a competitor.

As to the pitfalls, there is at least one. Your business needs to open a new distribution and sales channel that accepts online cash pay. Preferably a global eCommerce service provider that knows the online cash pay business and can get your products in front of those 2 plus billion global internet cash paying shoppers.

Currently, the best eCommerce system to deliver comprehensive online cash pay service to your business, for a great value, is World Market.

My recommendation is to look over the World Market online cash-pay shopping center and outlet mall. 
Just click on World Market on the top of the page tool bar. You can also click on the Support Center link and click on the Knowledge Base link to learn more. Browse the Knowledge Base articles.

Look into the World Market approach to global online cash purchase payments and the many great features and services offered. Then move out and get at selling your products to those 2 billion cash paying online customers!