GSI Commerce Inc. reported that for the period extending from Black Friday, Nov. 24 through Cyber Monday, Nov. 27, the alternative checkout and payment methods most recently added to the company's platform — Bill Me Later, Google Checkout and PayPal — drove more than 18% of online holiday purchases for its partners.
“Providing multiple checkout and payment options is just one of the ways we deploy innovative tools and features on our platform to help our partners to grow their e-commerce businesses faster than they could on their own,” said Steve Davis, senior vice president, GSI Commerce Partner Services.
“Providing multiple online checkout and payment methods is a big and important part of growing our online business as it gives a variety of customers convenient options,” said Jeffrey R. Hennion, senior vice president & chief marketing officer for Dick's Sporting Goods, the nation's largest sporting goods retailer. “And with GSI Commerce, we're partnered with a leader in the world of providing alternative checkout and payment options to online shoppers.”
“By offering a variety of checkout and payment options, GSI expands the number of choices that our e-commerce partners can use to capture an online sale that might otherwise walk out the virtual door,” explained Davis.
Google Checkout is the most recent alternative checkout process GSI offers on its e-commerce platform, and Bill Me Later and PayPal are the most recent alternative payment options. Other alternative payment options include private-label store credit cards, multiple types of gift cards and certificates, checks and money orders.
In addition to supporting all major credit cards, as of Nov. 29, more than 60% of GSI's partners had deployed one or more alternative checkout or payment options as part of their e-commerce businesses.
Adding one or more alternative checkout and payment methods provides an opportunity to expand a partner's base of customers by giving consumers the choice to transact as they feel most comfortable. This is particularly important to people who have security fears about disclosing credit card information either online or over the phone, as well as for people who do not use or qualify for credit cards. “By providing a robust variety of alternative checkout and payment options, GSI's partners open their online door to a larger, more diverse group of shoppers,” said Davis.
Alternative payment options such as Bill Me Later and PayPal can offer shoppers flexibility and security. Bill Me Later provides qualified “instant credit” for shoppers and flexible payment terms such as “90-days-same-as- cash.” PayPal customers can make purchases quickly and securely using their credit cards, bank accounts, PayPal Buyer Credit, or cash stored in their PayPal accounts. An alternative checkout option such as Google Checkout can add speed, convenience and security to the online shopping experience by allowing shoppers to checkout using a Google login. Both alternative checkout and alternative payments are attractive features to people who prefer to shop sites that offer them as options.
