You do not need to spend much on costs for maintaining a traditional sales system. You don't need a large advertising budget, nor do you need to spend much time on customer care and monitoring. An automated e-commerce website will help you implement an effective customer care policy. This is one of the essential factors in retaining customers long-term...
The only task you need to do is build a highly automated, secure, efficient, visually appealing, and easy-to-navigate e-commerce website with fast access speeds. A strong and flawless e-commerce website will give you a competitive advantage, especially as most businesses today are intensifying their e-commerce efforts.
Steps in an online transaction:
- The customer, from a computer located somewhere, fills out the payment and contact information in the Order Form of the sales website (also called an e-commerce website). The business receives the order for products or services from the customer and responds with a confirmation summarizing the necessary information, such as selected items, delivery address, and order number...
- The customer checks the information and clicks the "place order" button, using the keyboard or mouse, to send the information back to the business.
- The business receives and stores the order information while simultaneously forwarding the encrypted payment information (credit card number, expiration date, cardholder name, etc.) to the server (data processing device) of the online card processing service provider. With encryption, customers’ payment information is securely protected to prevent fraud (for example, the business does not know the customer's credit card information).
- When the credit card processing center receives the payment information, it decrypts the information and processes the transaction behind a firewall, isolated from the Internet, to ensure complete security for commercial transactions. It then formats the transaction and forwards the payment information to the business’s bank (Acquirer) via a dedicated line (a separate data transmission line).
- The business’s bank sends an authorization request to the customer's bank or credit card provider (Issuer), and the financial institution responds with approval or denial of the payment, which is sent to the online card processing center.
- The online card processing center then forwards the response back to the business, which then informs the customer if the order will be fulfilled.
- The total processing time for an online transaction from step 1 to step 6 takes about 15 - 20 seconds.
What are the benefits of e-commerce?
- Cost reduction: Reduces paper costs, information sharing costs, printing costs, traditional document shipping costs, administrative management costs, product display costs, etc., thus lowering purchase prices and potentially attracting more customer interest.
- Improving the distribution system: reduces inventory and delays in distribution, with product showcases supported or replaced by online showrooms.
- Overcomes time and space limitations, as online business activities operate 24/7. Customers and partners can search for information about your business or place orders anytime, anywhere, regardless of business hours, and whether customers are domestic or international.
- Quick payments through online payment support, benefiting both your business and your customers.
- Updated information, as all website information (pricing, products, etc.) is quickly and promptly updated.
- Strengthening customer relationships by enhancing the types of products and services offered.
- Additional benefits: Enhancing the business's image and reputation, improving service quality, acquiring new customers, simplifying and standardizing service types, fast information access, increasing flexibility in transactions and business activities, and creating a higher competitive advantage for the business.
We are always ready to consult and help you find the most suitable e-commerce solution!