e-Transaction
What Payvment offer Facebook Users?
While Facebook has provided a way for everyone—from large brand corporations to small home-based sellers—to attempt to build transparent relationships and communication channels with current and potential customers, the site has not been able to directly incentivize shoppers to purchase through the acquisition of Fans. Acquiring Fans is critical for companies because it establishes a concrete channel to communicate with customers, influence important target markets, and reward loyalty. Now with Payvment’s Facebook Fan Incentive Pricing feature, sellers can provide an electronic coupon or instant discount to potential and current fans by simply enabling the feature via Payvment’s free storefront application for Facebook.
“While the Facebook social graph has become an excellent platform to build or strengthen brand awareness and communities, companies and their enthusiastic Fans have been unable to take that final step between being a Fan and being a buyer,” said Christian Taylor, CEO of Payvment. “Payvment is groundbreaking in that it instantly takes Facebook from a social network and marketing platform to a channel for direct selling. This is the first product that directly connects Facebook to a sale, delivering stronger, more tangible relationships between buyers and sellers.”
To enable the new Fan Incentive Pricing solution, sellers that currently use Payvment simply activate the feature within their storefront settings. They then choose a discount amount to be provided to anyone that becomes a “Fan” of their Facebook page and with one click, the discount is instantly available storefront-wide. Current Fans are automatically provided the discount. Once a Facebook user becomes a Fan, they will see their special Fan price. When visitors that are not Fans come to a storefront, Payvment automatically prompts them to become a Fan to receive special Fan pricing. Storefronts that aren’t currently using Payvment can simply install the free Payvment e-commerce solution and activate the feature.
Payvment provides four completely unique e-commerce features on Facebook—the universal shopping cart, a shopping discovery and search tool designed specifically for Facebook e-commerce and beginning today, the ability to offer Fan discounts and for any Facebook user to go to a storefront and add comments and reviews. Payvment’s universal shopping cart allows shoppers to carry their goods with them across thousands of Payvment-powered storefronts on Facebook.com. This increases the chance of completing sales, because the item remains in the cart until the customer either removes it or completes the purchase. It even remains in the cart when the user leaves Facebook. The result—items are less likely to be forgotten and abandoned. And Payvment automatically updates product pricing and availability.
Payvment’s proprietary discovery tool is the only Facebook search feature specifically designed to help users discover retailers and their products. Facebook’s existing search tool was designed for Profile search and not for the unique requirements of e-commerce on Facebook.
With this new version of Payvment‘s Facebook e-commerce application, Facebook Fans receive buying incentives and can add comments and reviews to Payvment-enabled storefronts. The feature includes spam protection, so sellers can control inappropriate content in the comment and review section of their storefront.
About Payvment
Payvment provides the fastest and easiest way to search, discover, buy and sell merchandise directly within social networks. Payvment allows over 400 million Facebook users to now purchase directly from sellers without leaving Facebook.com. Facebook shoppers “carry” a Payvment virtual shopping cart wherever they go on Facebook. Payvment allows sellers to instantly transform Fan page visitors to purchasers and experiment with a diverse range of promotions and marketing tools customized for social network communities. Payvment was founded in 2009 by Christian Taylor and Joelle Musante, who previously developed social network Fan Web sites for Fortune 500 companies. The company is based in San Francisco, California. Over 250,000 users have shopped using Payvment in the first four months alone. For more information about Payvment, visit them online: http://www.payvment.com or via Facebook: http://www.facebook.com/payvment.
Visa acquires Cybersource to speed up online payments and e-commerce.
Visa acquires Cybersource. Visa on Wednesday accelerated its push into online payments and e-commerce, agreeing to buy Cybersource, an electronic payments company, for about $2bn in cash.
The deal, which values Cybersource at about $26 a share, comes just a week after rival MasterCard launched a new division dedicated to bringing to market faster different forms of payment.
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The traditional payment processors are manoeuvring to ensure their position is not eclipsed by emerging technology and online rivals such as PayPal. American Express last year announced it was buying Revolution Money, an online processor, for $300m.
Cybersource, which helps retailers protect themselves against fraudulent online payments using its software, processes about a quarter of all US ecommerce transactions, by dollar value.
The company counts British Airways, Home Depot and Facebook among its clients and last year had revenues of $265m and net income of $11m.
About 8 per cent of Cybersource’s revenues came from outside the US in the fourth quarter of last year.
The deal with Visa should help to spur the company’s international growth, with Asia and Latin America expected to be early priorities.
The price reflects about a 34 per cent premium to where Cybersource shares closed on Tuesday.
That values Cybersource at about 19 to 20 times adjusted 2011 earnings, according a source close to the deal – roughly in line with where Visa itself trades.
The acquisition of Cybersource would leave few sizable businesses for rivals looking to accelerate in electronic payments. PayPal, which is owned by Ebay, is rapidly growing its activity away from the online auction site and is becoming more important to the company as its auction model falls out of favour with consumers.
Cybersource, which was founded in 1994, listed on Nasdaq in 1999 as the dotcom bubble approached its apex.
The company greatly expanded its presence among small businesses with the acquisition of Authorize.net in 2007 and now works with more than 295,000 merchants using both brands.
Visa and Cybersource have worked together since 1999 and Cybersource’s chief executive, Michael Walsh, will stay on to oversee its operations.
Shares in Visa slipped 0.61 per cent to $93.48 in afternoon trade in New York. Cybersource stock jumped almost 32 per cent to trade at $25.65 a share.
JPMorgan advised Visa on the deal while Goldman Sachs acted for Cybersource.
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Facebook Ecommerce Platform Payvment released
Payvment releases its Facebook Ecommerce Platform that let Retailers Provide Exclusive Price Reductions to Fans.
Facebook ecommerce platform Payvment launched
Facebook ecommerce platform Payvment, which allows businesses to make offers to users that become fans of their page, launched on April 20. When users “Like” their page or become a fan of it, businesses can instantly send them coupons or provide them exclusive offers for online shopping.
Payvement is available to any user on the popular social networking website. It allows companies to list products, import photos and inform potential customers of options among several other features. Page operators can instantly update, add or remove discounts and offers, so there is no confusion for users.
To help in advertising and exposure, Payvment automatically asks new visitors if they would like to become fans of the page and informs them of the available discounts. Users can also make orders from the pages, so there is no need to go to the company’s website. Removing small inconveniences like that will result in more business for ecommerce companies.
For ecommerce, Payvement could be a massive windfall. Facebook’s most recent reports indicate that it has more than 400 million active users and 50 percent login to the website every day. The Pages feature has resulted in 5.3 billion fans since Facebok developed it.ADNFCR-2178-ID-19732617-ADNFCR
Understand Virtual Credit Card
Despite the high growth rates of e-commerce, the surveys are conducted to determine shopping habits on the Internet in many countries have revealed that one of the biggest barriers to electronic selling, is the Buyer doubt on the safety of introducing data on the network. To solve this problem many financial institutions, many banks and major credit card companies have launched a new product, the virtual credit card.
What is a virtual credit card?
There are several characteristics that differentiate this virtual cards of the traditional, in summary are:
These are prepaid cards, so the cardholder can use it for, you must load it before. The burden is on balance a checking account or credit card to another “normal”. When you load the card the user has the record that has limited the balance of your card balance that you’ve got, so you never, even in case of interception of your data, fraudulent charges may be made, above the balance .
Virtual credit cards offer the possibility to change the keys in each of the operations performed, this gives greater reliability to their owners.
The use of these cards are restricted to internet, so it can only be used for purchases in e-commerce.
There is greater control of spending, because these cards unique to the web, and have limited the amount of pre-disposition to, control over money spent on e-commerce is total.
Virtual credit cards are just virtual, so they do not usually stand in plastic, the issuer generates an account specifically for these cards, which control the balance of inputs and provisions, as well as the operations performed without need for a hardware, and without the risks of loss or misplacement.
Credit cards allow you to download the virtual balance in a bank account associated with your use, so that buying shares completed, can be emptied, to be more secure control over its funds.
Evaluation of virtual credit cards.
It should be stressed that the main advantage of these cards is to generate confidence that they produce in their users.
But do not forget that the major credit card companies and banks and other financial institutions that sell, often incorporate all credit cards, insurance fraud. Using a credit card from a good company, it is certain to be able to claim against possible vandalism actions taken against it.
The security system of the virtual credit card, it’s more a realization of an old system, which avoids the introduction of continuous data on the internet for many years, the prepaid system has been offered by leading companies in electronic commerce such as Paypal, which may operate upon the creation of an account, you can go recharging, without entering personal data in e-commerce websites. Paypal has been offering for many years, support not only to ensure the security of electronic transactions, but also about the delivery of the products offered.
In any case the evaluation of this new product, the virtual credit card, is unambiguously positive, insofar as it strengthens the security of electronic transactions and to generate more confidence in their use.