Due to the constantly changing global online payment landscape, online businesses of all sizes need payment solutions that can be easily adapted to their needs.
Alternative payment methods will account for 30% of online purchases in 2012, up from 14% today, Javelin Strategy Research predicts. Credit cards’ share will drop from 60% to 44% while debit cards will hold steady at around 27%. U.S. consumers will buy $355 billion online in 2012, and debit cards, particularly favored by younger consumers with less access to credit, will grow at a 19.3% rate from $38.8 billion this year to $93.9 billion in 2012.
Once again, e-commerce providers must take a step ahead and continue to add more innovative features to the continuously growing portfolio of e-commerce solutions. As the e-commerce industry changes with time, so do the needs of online businesses. In the pursuit to design solutions to support all areas of the ecommerce industry, each provider in the market is constantly providing new features to the online industry. These features range from the simplest service to one of the most complex services of finding both localized as well as global features. To remain competitive all of these issues must be answered.
With the growth of the e-commerce industry, many businesses have chosen a specific area in which to specialize. The software and gaming industries, for example, require a more flexible and understanding approach which is a perquisite for customizable solutions.