Zooz CEO Oren Levy’s most recent article in Internet Retailer discusses considerations for merchants expanding their global reach into China. Levy describes how several changes by the Chinese government make it easier for foreign firms to invest in online retailing in China, while other moves raise caution flags.
Read the full exclusive on Internet Retailer.
Here’s a familiar scenario often experienced by the average shopper: You’re congratulating yourself on finding the perfect birthday gift for a friend/partner/offspring at your favorite store. You make your way to the checkout counter, hand over your credit card, and within a couple of seconds, apply your signature to the payment stub with a flourish. The salesperson expresses the hope that you will have a good day, hands over your gift-wrapped package, and you’re already thinking about the next errand on your to-do list.
The payment process, which is usually easy, quick and painless for the shopper, is far more complicated for the retailer. While customers need to wait only a few seconds for their purchase to be approved, they are usually unaware of a hum of activity taking place behind the scenes, involving a journey through several processing stages and a variety of financial entities.
Of course, purchases are not only made in brick-and-mortar stores, they are also conducted online, via tablets or smart phones, and often across borders regardless of the shopping channel or locality, in order to inspire repeated purchases and incur customer loyalty, it is critical for the retailer to create a frictionless shopping experience. The length and efficiency of the back-end payment process have a direct impact on the quality of the consumer’s checkout.
Learn more about optimizing your customer experience with the right technological exclusively at Multichannel Merchant.
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