# How businesses can overcome their doubts and be a part of the eCommerce revolution Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2022-11-15 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: Maximise Revenue with Secure Payment Solutions Meta Description: Discover the critical pillars of functionality to drive eCommerce success, including personalised user experiences and effective payment management. URL: https://financedigest.com/how-businesses-can-overcome-their-doubts-and-be-a-part-of-the-ecommerce-revolutionhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/istock-1321866615-1736814862188-compressed.jpg) _![](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/130-1736814862117-compressed.jpg)_ _By **Nathan Shinn,** Founder and CSO, BillingPlatform_ eCommerce has grown rapidly within the previous decade, becoming the norm for shoppers both in the UK and Globally. Britain is expected to have nearly [60 million users by the end of 2022](https://www.statista.com/topics/2333/e-commerce-in-the-united-kingdom/#topicHeader__wrapper), while experts are predicting that eCommerce will account for roughly 22% of global retail sales [by the end of 2023](https://www.matthewwoodward.co.uk/seo/ecommerce-statistics/),equating to a staggering £5.43 trillion. Due to its growing popularity, an increasing number of businesses are embracing eCommerce and moving their goods or services online. Doing so [grants them access](https://www.financedigest.com/51-of-brits-support-teresa-may-and-would-grant-access-to-their-personal-communication-and-internet-browsing-history-as-part-of-the-snoopers-charter.html "51%* of Brits support Teresa May and would grant access to their personal communication and internet browsing history as part of the Snooper’s Charter ") to a wider customer base, whilst offering greater flexibility for customers and greater efficiency when responding to market demands. While many have been [quick to adapt to increasing demand](https://www.financedigest.com/eu-demands-quick-fix-from-u-s-of-green-subsidy-law.html "EU demands quick fix from U.S. of green subsidy law") for eCommerce solutions, others have been more hesitant to do so over fears it will put extreme pressure on their existing processes and resources. This is understandable, especially for [B2B businesses](https://www.financedigest.com/what-b2b-businesses-can-learn-from-b2c-e-commerce.html "What B2B businesses can learn from B2C e-commerce"). Enabling the self-service ability for customers to configure and purchase goods, setting-up [payment methods, and executing the recurring payment process](https://www.financedigest.com/are-your-payment-processes-in-cheque-for-the-new-legislation.html "ARE YOUR PAYMENT PROCESSES IN CHEQUE FOR THE NEW LEGISLATION?") over the life of an agreement requires a very different approach to traditional sales processes in order to succeed. Firms wanting to make the transition to an eCommerce [model need a plan in place](https://www.financedigest.com/future-cheque-clearing-model-places-emphasis-on-speed-and-innovation.html "FUTURE CHEQUE CLEARING MODEL PLACES EMPHASIS ON SPEED AND INNOVATION") that streamlines processes, delivers positive customer experiences and provides the security, scalability and visibility required to grow. Breaking down these functional requirements, [businesses can find themselves looking for a range of new process](https://www.financedigest.com/5-reasons-why-modernising-is-the-most-important-ongoing-process-for-any-business.html "5 Reasons Why Modernising Is The Most Important Ongoing Process For Any Business") capabilities, from online product catalogues and configuration management, to billing and invoicing through to digital payment enablement, all to support the eCommerce customer lifecycle. This can be both daunting and confusing and [lead some to think it’s not worth](https://www.financedigest.com/a-picture-is-worth-1000-words-or-54-more-leads-according-to-kyero-com.html "A picture is worth 1,000 words – or 54% more leads according to Kyero.com") the hassle. If [businesses want to be successful](https://www.financedigest.com/tips-on-how-startups-can-turn-their-business-into-a-success.html "Tips on how startups can turn their business into a success") going forward, they need to welcome the eCommerce revolution or risk being left behind and overshadowed by their competitors. Despite these challenges, [moving to an eCommerce model](https://www.financedigest.com/7-factors-to-consider-before-your-business-moves-to-a-subscription-model.html "7 Factors to Consider Before Your Business Moves to a Subscription Model") doesn’t need to be a complicated process. To smoothly transition to a more digital way of working, [businesses need](https://www.financedigest.com/setting-up-a-business-in-the-uk-heres-what-you-need-to-know.html "Setting up a business in the UK? Here’s what you need to know.") to assess and consider three critical pillars of functionality when deploying solutions to drive eCommerce success: **[Secure Payment](https://www.financedigest.com/allpay-signs-with-eckoh-to-secure-telephone-payments.html "allpay signs with Eckoh to secure telephone payments") Portals** Personalising the user experience is critical to [keeping customers satisfied and returning to do business](https://www.financedigest.com/keeping-an-eye-on-company-purse-strings-where-do-businesses-go-wrong.html "Keeping an eye on company purse strings – where do businesses go wrong?"). To do this, it’s key that they are empowered with self-service capabilities such as the ability to [manage account details, view usage, manage payments and pay](https://www.financedigest.com/with-the-right-active-manager-you-really-do-get-what-you-pay-for.html "With the Right Active Manager, You Really Do Get What You Pay For") bills. By offering customers a self-service portal, [businesses can provide 24×7 access to account information and the flexibility of accepting payments](https://www.financedigest.com/technology-is-a-tonic-for-late-business-payments.html "TECHNOLOGY IS A TONIC FOR LATE BUSINESS PAYMENTS") in a fast and secure way. With a customisable portal firms can decide what information to share and what [actions customers](https://www.financedigest.com/the-fca-is-taking-immediate-action-on-customer-vulnerability-but-how-does-this-impact-advisers.html "The FCA is taking immediate action on customer vulnerability; but how does this impact advisers?") can take, all within a fully branded interface. **Commercial** [Payment Gateway](https://www.financedigest.com/accelya-takes-airlines-to-new-places-with-launch-of-new-payment-gateway.html "Accelya takes airlines to new places with launch of new payment gateway") To run an effective eCommerce model, [businesses need to monitor and manage](https://www.financedigest.com/four-reasons-whycloud-based-inventory-management-is-important-for-your-ecommerce-business.html "Four reasons whycloud-based inventory management is important for your ecommerce business") the full lifecycle of the payment process, from payment initiation through to chargeback notification to, have a complete financial picture and to increase and manage revenue. Deploying a solution where selected payment partners are able to [integrate directly with a company’s billing and revenue management solution simplifies the process of launching a digital](https://www.financedigest.com/what-is-id-and-verification-and-why-is-it-such-an-integral-part-of-digital-life.html "What Is ID and Verification and Why is it Such an Integral Part of Digital Life?") commerce platform. An integrated solution allows customers to make [digital payments while also giving businesses](https://www.financedigest.com/3-reasons-why-businesses-get-stuck-at-the-starting-gate-of-digital-transformation.html "3 Reasons Why Businesses Get Stuck At The Starting Gate Of Digital Transformation") the ability to monitor the entire customer and payment journey, provide for easy reconciliation between financial systems and quickly roll-out new payment functionality. **Hosted Payment Pages** One of the biggest [risks when moving to an eCommerce model is payments fraud](https://www.financedigest.com/how-can-you-reduce-the-risk-of-fraud-in-b2b-payments.html "How can you reduce the risk of fraud in B2B payments?") and customer payment information being stolen. This can have both a negative [financial and reputational impact on a business](https://www.financedigest.com/financial-advice-for-starting-your-own-business.html "Financial advice for starting your own business").  So, firms [need options](https://www.financedigest.com/what-needs-to-happen-to-improve-the-landscape-for-smes-trying-to-access-finance-options-in-the-uk.html "What needs to happen to improve the landscape for SMEs trying to access finance options in the UK") to protect themselves against threats. Using eCommerce pages, including payments acceptance and processing, directly from a third party, PCI-validated [service providers can help alleviate the threat of payment](https://www.financedigest.com/igtbs-payments-services-hub-faq.html "iGTB’s Payments Services Hub – FAQ") fraud. Utilising hosted payment pages from a trusted provider can streamline the process for subscription or recurring billing and provide increased security for customers by [keeping their data](https://www.financedigest.com/dollar-buoyant-as-robust-u-s-data-keep-fed-hawks-in-control.html "Dollar buoyant as robust U.S. data keep Fed hawks in control") secure. In addition, hosted payment pages [offer](https://www.financedigest.com/a-psd2-the-real-regulatory-impact-on-marketplaces-offering-payment-services.html "a PSD2: the real regulatory impact on marketplaces offering payment services") a variety of payment options and defaults, including a simplified checkout process. A highly embeddable hosted [payment page from change](https://www.financedigest.com/open-banking-the-real-step-change-for-the-global-payments-industry.html "Open banking: The real step change for the global payments industry") is never easy, but with eCommerce quickly becoming the go-to for customers and showing no signs of slowing down, businesses must adapt in order to survive. The good news for those holding off [moving to a more digital way](https://www.financedigest.com/4-ways-moving-office-can-bring-your-business-roi.html "4 ways moving office can bring your business ROI") of working is that implementing solutions to help them transition doesn’t need to be as complicated as they may fear. Through assessing and considering these three pillars of functionality and working with providers who can meet them, firms can ensure they are ready to provide their customers with the eCommerce experience they crave and [continue to do businesses](https://www.financedigest.com/brand-metrics-continues-on-steep-growth-trajectory-with-appointment-of-vp-business-development-in-the-us.html "Brand Metrics continues on steep growth trajectory with appointment of VP Business Development in the US") long into the future. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---