GlobalCollect has launched an international global payment solution that may prove the clincher in securing an online sale.
Part of the TNT Post Group, the international banking network launched WebCollect at the Major Mail Users of Australia Annual Trade Exhibition & Conference last week.
"The beauty of the solution is the customer is given a number of different ways of paying for their online goods," said Terry Paull, TNT International Mail's general manager for the pacific region.
"WebCollect sits behind the Web site in terms of payment options and allows customers the choice of paying by bank cheque, direct debit or invoice."
Paull said some of the major barriers to international trade include currency, legislation, reporting systems and cultures.
"A lot of customers are resistant to credit cards or haven't got them, and they are not the preferred method of payment in a lot of countries. Because WebCollect is the first online payment solution to bring together new economy and old economy payment methods under one umbrella, it overcomes these barriers."
The system could provide the key to removing customers' trepidation about buying online, according to the developers. Retailers can find out the preferred payment method for each country and then pitch their site based on that information.
A recent US report by market analysts Datamonitor predicts that for each successful online sale, nearly four times as many transactions are abandoned.
"It is about keeping it simple - we are offering one solution for the whole world that gives customers different options and more security," Paull said.
"An Internet customer can get to the stage where they have found the site, they have made a purchase and when it comes to payment they break into a cold sweat. But if they are given a choice such as sending an invoice, that could be the thing that turns on the switch to buy."
The success of the system is all about giving the customer options, he said. "What tends to scare people is that they are driven down a path and confronted with "this is the way you will pay".e-tailers can also leverage off other TNT products if they wish, Paull said.
"We can do as little or as much as retailers want us to do. They could bundle the payment solution with TNT Loop, which provides end-to-end delivery and returns, but clients don't have to have use all the elements - many like to handle fulfilment themselves."