Showing posts with label payment. Show all posts
Showing posts with label payment. Show all posts

Five Steps to Building an E-Commerce Site for Your Small Business

Expanding your business into the world of e-commerce is a huge step. It can be expensive, time consuming, frustrating and at the same time, the most rewarding adventure you’ll ever take!

Here are five steps to help build an e-commerce site:

1. Start with a plan: Have a 3-year business plan before you get started, and update the plan as your business changes and grows. Local organizations and online webinars are available to assist small business owners with the development of a business plan.

2. Name your site: Creating a website is a primary goal for any e-commerce business. Before you get that far, you need to name and register your website. Choosing a name can be hard; it has to be unique, reflective of who you are and what you are offering, while being catchy and memorable.

3. Assemble your pages: You’ll need pictures and descriptions of your products and services to display on your site. There are copyright laws for pictures and content on the Internet, so be very careful when using anything without permission; fines can be very costly.

4. Setup Payment Processing: Once your web site is active, you need to be able to accept payments for your products or services. Before you start taking credit card payments, you need to make sure you are Payment Card Industry Data Security Standard (PCI DSS) compliant. This means you are able to protect your customers’ credit card information. Online merchants are prime targets for data thieves. If data is stolen and it is your fault, you can incur fines or penalties and may even lose your right to accept credit card payments. Most processing companies take care of this for you, but research ahead of time to avoid issues.

5. Start marketing: The most important part of the e-commerce puzzle is being found. There are many ways to help customers find your site, but most of them involve paying for advertising. Over time, your site will show up naturally in search engines, but the top positions can be purchased (known as pay-per-click). Writing articles and blogs with links to your products is also a free way to increase your relevance online. Lack of a good marketing strategy is the biggest pitfall to an e-commerce site. Spending money that doesn't turn into sales can sink a business. Constant testing of ads and writing information that readers are interested in will continue to build strong foundations for a successful e-commerce sites.

Bitcoin: The Internet Currency


Shoppers regularly hand over credit cards when checking out, but a new form of digital currency, called Bitcoin, is increasing in popularity. In fact, the value of all bitcoins in circulation is approximately $1.3 billion in United States currency—a number that simply cannot be ignored.

Our friends at the Better Business Bureau serving Alaska, Oregon and Western Washington offer insight into this new “cryptocurrency.”

What is Bitcoin? Bitcoin is a digital currency which allows anonymous and instant peer-to-peer payments. The Bitcoin system uses a shared public log called a blockchain, which contains all verified payment records in chronological order—allowing everyone on the network to see every transaction.

Where do bitcoins come from? Bitcoins are intangible and must be digitally “mined.” Computers connected to the Bitcoin network compete against each other to find solutions to extremely complex mathematical equations, the first to crack the equation is awarded with freshly minted digital coins. There is a set ceiling of 21 million bitcoins and it is expected that they will all be unlocked by 2140.

How can bitcoins be used? Computer programs and smartphone applications allow users to anonymously exchange real money for bitcoins and many retailers—both online and offline—now accept bitcoins as payment for goods and services.

Are there any dangers to using Bitcoin? Bitcoin is not backed by any single government or organization; its value is recognized solely by its users—consumers and businesses. The Bitcoin exchange rate fluctuates continuously, making it high-risk currency.

Will you consider accepting bitcoins as a source of payment? Let us know what you think in the comments.