The eCommerce industry in Australia
The transactional dimension is what turns websites into eCommerce sites. eCommerce stores are websites that comprise shopping basket, delivery, payment, and financing functionalities.
Several leading businesses across the world, such as Amazon and eBay, are active in the eCommerce industry. In Australia, eCommerce includes online stores, multi-seller marketplaces, and other platforms.
eCommerce in 2020 and COVID-19
According to Australia Post's 2020 eCommerce Industry Report, 2020 has been a year like no other for eCommerce. Growth was up over 80% year on year in the 8 weeks since the COVID-19 pandemic. They anticipated that by the end of 2020, online spending will hold a 15% share of the total retail market.
Reduced overhead costs and ease of shopping are inherent to a digital business model. Also, affordable logistics and fast delivery has bolstered the growth of the industry sector, which is set to go upwards for several more years.
What is an eCommerce payment gateway?
If you're looking for an eCommerce payment solution for your eCommerce store, a payment gateway is the start of your journey. eCommerce online payment systems execute a very vital part of online transactions. An eCommerce payment gateway is an interface between your eCommerce website and the bank of your online shoppers.
How eCommerce payment processing works
An eCommerce payment gateway exchanges information between your eCommerce store and the bank. The gateway works as a neutral third party between you and your customers.
The eCommerce online payment system encrypts all personal information and payment details to allow it to be exchanged between seller and buyer without being visible to others.
How to choose an eCommerce payment service provider?
eCommerce payment gateways can be offered by banks to their customers or by specialised eCommerce service providers.
The volume of online payments through your eCommerce store should be an important factor in your decision. If you're starting up, you might want to avoid monthly fees and a high setup fee. If you have a high volume, the transaction costs will make up the biggest part of your payment fees.
eCommerce is easy with SecurePay
SecurePay provides a range of different eCommerce payment solutions that can help make online payments more secure. Your customers have the choice of paying with a range of credit cards, including Visa, MasterCard, American Express and Diners Club International and digital wallets including Apple Pay and with PayPal.
SecurePay eCommerce payment gateway - a complete solution
SecurePay allows you to securely accept payments through your website and gives your customers more payment choices. It is a fast, simple, and cost-effective eCommerce solution, and consists of two elements:
an internet merchant account that manages the authorisation and transfer of funds between your customer's credit card and your bank account
an eCommerce payment gateway to ensure that bank card data is transmitted securely from your eCommerce store to your internet merchant account and the card providers
A product of Australia Post – SecurePay is there to help you start accepting credit card payments online. SecurePay is there to answer all your questions about online payment solutions, including questions regarding hosted and non-hosted payment gateways.