Our Top 3 Magento Integrations To Help Your Business Grow

Magento is one of the top e-commerce platforms

E-commerce continues to be one of the fastest growing industries in the world, with billions of dollars in sales volume and consistent double-digit growth over the past four years. Fueling that growth is a shift in consumer behavior, but also the technology that makes e-commerce possible.

From a tech standpoint, Magento is one of the top e-commerce platforms in the world, driving approximately 250,000 e-commerce stores and an impressive $100 billion in gross sales volume.

Of course, no platform operates in isolation, and Magento is no exception. To get the most out of it, many businesses turn to systems integrations and plugins to expand the functionality of their website as well as optimize a business’s use of customer data. Let’s take a closer look at our top integrations for the Magento platform.

 

Enterprise Resource Planning (ERP)

ERP software is essentially the backbone of many mid-sized businesses. As the category name suggests, the software helps firms identify and manage various resources. That can be anything from raw materials, financial resources, or human resources. And as such, they both require and generate a lot of data that is essential for an e-commerce business, and integrating an ERP to Magento can help businesses grow exponentially.

For example, an ERP system integration can help a firm optimize its manufacturing processes, and thus ensure that a product is never out of stock. Additionally, Magento can track customer purchasing patterns, while an integrated ERP integration can identify key times when production should be increased or decreased, thus optimizing the production process.

 

Marketing Automation

In today’s increasingly connected digital world, marketing automation systems have helped firms optimize the delivery of key messages to highly segmented audiences at the optimal time designed to increase conversions. Of course, customer data is the lifeblood of such systems, and the more data they have, the more powerful and effective these marketing automation programs are. Luckily, Magento is an excellent data source. By integrating marketing automation with Magento, marketers can track essential aspects of their marketing programs with the goal of optimizing them. For example, they can track which channels are driving the most traffic, which are driving conversions, which are driving new customers, repeat buyers, etc. They can then build automation protocols that efficiently move visitors through the sales funnel. The more they can automate everyday tasks, the less work they need to do!

 

Payment Gateways

Accepting payments is the final step in any e-commerce transaction, and it’s essential for it to be a seamless experience. That means integrating the payment gateway with the Magento shopping cart user experience. This is an essential part of running an e-commerce store. By way of comparison, if you were shopping at a brick-and-mortar store and were told to go to a different store to complete the payment, you’d probably think something shady was going on. The same is true of e-commerce stores. Integrating the payment gateway ensures that customers get a fully branded experience from start to finish.

 

Here at BAMS, we help customers with a variety of payment gateway integrations for Magento and other e-commerce platforms. It only takes 10 minutes for our agents to connect your store with the best payment gateways. So, if you need to get up and running quickly, contact us today. One quick update is all it takes for you to get all the benefits of a BAMS merchant account.

Why You Should Consider BAMS Over Stripe

Online Payment

You have a choice when it comes to deciding upon the right payment processing solution for your business. A choice that is undoubtedly met with a wide variety number of options.

As credit card and digital wallet usage continues to accelerate, it’s important that you partner with a platform that does more than just work in the here and now. It should be able to scale with your business and counter every bump along the road. It should function as part of the bigger picture, working cohesively alongside your other adopted solutions.

For those in ecommerce, this proves even more important as you manage the infrastructure needed to secure customer data and allow your business to thrive. When making your decision, here’s why you should consider BAMS over Stripe.

Solutions Tailored to Fit Your Business

Every business is unique, functioning off its own set of standards, goals, and customer needs. At BAMS, this factors into our innovative pricing model.

Instead of boxing customers in at cookie-cutter pricing levels, we customize quotes upfront during our 5-step price comparison consultation. In doing so, we’re able to determine everything a business needs (and doesn’t) to be successful, saving you money while ensuring fast and easy setup.

Dedicated Support

With 185 Google reviews with an average of 4.9/5 stars, it’s no secret that our support team is one-of-a-kind. Since day one, we’ve been putting merchants first with customer care that is anything but generic.

There will never be roundabout ‘Help’ portals to navigate. And you won’t need to review redundant information with different reps during every phone call you make to our team. When working with BAMS, you’ll be assigned a dedicated representative that you can reach out to at any time with questions or concerns regarding your specific account.

Seamless Integrations

It’s one thing for a payment processor to work well on its own. It’s another for it to work just as well alongside your business’ other tools and services.

Unlike Stripe, BAMS supports both CNP and CP accounts. If you work in different environments, this allows you to keep operations integrated under one umbrella. With integrative capabilities across a wide variety of e-commerce platforms, BAMS’ agents will have your online store connected to our payment gateway in no time.

Secure Agreements

Stripe is what’s referred to as a ”payment facilitator”. This means that when using their services, your agreement goes directly through their company, allowing them to hold money and cancel accounts easily at their discretion.

In comparison, your relationship with BAMS is backed by a bank. You can trust that your data will remain secure and services in place, pending any outstanding circumstances.

Final Thoughts: Why You Should Consider BAMS Over Stripe

At BAMS, we believe that our customers are more than just a number. They’re businesses — just like ours — and the owners behind them have visions and hopes for the future that we love to support.

It’s our job to help you realize those end goals with quality service and support at every stage of the journey. Learn more about what makes us a leader in payment processing and request your free quote today!

Why BAMS Is The Perfect Solution For Your E-commerce Business?

E-commerce Business

Over the past decade, the world of e-commerce has completely transformed consumer purchasing behaviors. Practically everything you once had to procure in-person can now be purchased from the convenience of your couch through a series of clicks, taps, and confirmation emails.

In fact, 1.79 billion people worldwide made a purchase online in 2018, with that number expected to grow to 2.14 billion by 2021. The moral of the story: your customers are shopping online with money that’s burning a hole in their pocket.

As an online business, putting the right e-commerce strategy in place is and will continue to be key for long-term growth. Part of that strategy relies on selecting the right payment processing solution for your website.

You will, without a doubt, have a multitude of merchant account providers to choose from, so it’s important to know what matters most to your business when making a selection.

You’re not simply choosing a method with which to process transactions: you’re giving customers a sense of security and your business a positive reputation.

Trust in a platform that will ensure all of the above, and then some. Here’s why BAMS is the perfect solution for your e-commerce business.

BAMS Integrates With Your Existing E-Commerce Software

The last thing you want to have to do when choosing a merchant account is completely reconfiguring your current system. Convenience goes out the window when you have to change out all of your e-commerce software and point-of-sale systems already in use.

The team at BAMS knows how important popular integrations are for business owners with full plates. The more consolidated your efforts become from a software standpoint, the more strategic you’re able to be in your day-to-day operations.

With a checkout process already in place, BAMS easily integrates with popular e-commerce platforms like Authorize.Net, Magento, WooCommerce, and BigCommerce. Best of all, BAMS agents take care of the heavy lifting, connecting your current online store to the ideal payment gateway solution for your e-commerce business.

BAMS Protects Against Chargebacks

Chargebacks, on average, cost e-commerce businesses $40 billion in lost revenue. This is largely due to the fact that most business owners don’t even notice a chargeback until it’s already been processed.

With additional fees tacked onto the customer’s refund, you can end up losing more than simply the cost of a returned product. This becomes especially true as your chargeback rate starts to rise. When an increasing number of customers dispute purchases with your business, refund processing fees from issuing banks start to rise and your ability to process credit cards in the future can become compromised.

The Chargeback Defense functionality offered through BAMS gives you the ability to manage chargebacks effectively. From Instant Dispute Alerts to Online Dispute Management tools, you have the power to review and refute claims as soon as they arise.

BAMS Streamlines Operations With Reporting & Analytics Dashboards

Running a business is one thing: growing a business is something else entirely. To do so requires you to separate yourself from the day-to-day and think big picture. It requires you to pull insights from reporting and analytics.

This is where BAMS goes beyond payment processing to provide you with software that actually works to maximize profitability. Working with BAMS, you’ll gain access to a powerful CRM portal that gives you visibility into daily operational highlights.

Set up daily settlement reports that can be received via email or SMS. Track sales growth trends with an easy-to-use, visual monitoring dashboard. Search through your entire history of transactional records in seconds. All of this functionality and more is at your fingertips in one centralized location.

BAMS Pricing is Transparent

The team at BAMS knows you have options when it comes to payment processing for e-commerce. This is why we’re both competitive and transparent when it comes to pricing.

Our pricing model involves a unique 5-step comparison process. When you request a quote, you receive an analysis specific to the needs of your e-commerce business. This starts with an in-depth look at the rates and fees you’re currently paying.

If there’s a way to save you money and better serve your payment processing needs, our team of Merchant Account Specialists will uncover it. After all, you shouldn’t have to pay for tools that aren’t actually effective or relevant to how your business operates.

This belief carries into the BAMS Low Price Guarantee. Receive a less expensive merchant account offer from any other registered financial provider during your relationship with BAMS, and we’ll either match or beat it.

BAMS Offers Dependable Support

How many times have you signed your name on the dotted line with a service provider only to find the implementation and ongoing support lacking to non-existent? Unfortunately, this is the risk you run post-sale with any partnership.

BAMS puts its relationships with customers above all else. This is reflected through the human connections fostered between e-commerce business owners and Merchant Account Specialists.

These individuals are with you every step of the way. They’ll provide personalized quotes, guide you through implementation, and even help your business get certified as PCI-compliant — walking you through the entire process.

Final Thoughts: Why BAMS is the Perfect Solution for Your E-commerce Business

Sifting through the variety of payment processing solutions made available to e-commerce business owners can be both frustrating and overwhelming. You want to make not only the right choice for the sake of your customers but a choice that will positively impact and grow with your business for years to come.

This is why it’s important to look at the big picture. Prioritize what matters most across your business operations and partner with a team that values your success just as much as you do.

For e-commerce businesses, BAMS’ fully-loaded payment processing platform is truly a one-stop shop. Find out what makes it the perfect solution for your business — contact our team of expert specialists to request a free quote today.

Demystifying PCI Compliance – The Basics And Benefits Of Meeting The Industry Security Standard

PCI Compliance - Security

PCI compliance is one of the most important factors in establishing safe online transaction processing, but many business owners and managers know very little about it. Most either assume that it doesn’t apply to them or that they already have it – whatever it is. But e-commerce software and online payment solutions aren’t PCI compliant by default, and it’s essential that companies accepting credit card payments – both online and off – understand the basics of PCI compliance and the many benefits that it provides.

What is PCI Compliance?

The Payment Card Industry Data Security Standard (PCI DSS) is a compliance requirement designed for organizations that process credit card transactions involving the major credit companies. The program is mandated and administered by a council made up of five of the biggest players in the industry – Visa, MasterCard, Discover, American Express, and JCB.

While not mandated by federal law in the United States, the major credit brands and banks do require merchants to meet the standard in order to satisfy their terms of service. That means failure to meet even one of the many criteria could be extremely costly. As such, any company that accepts credit card payments and stores or transmits card data must fully adhere to all PCI security requirements to minimize fraud and ensure that sensitive consumer data is protected from theft.

Benefits of PCI Compliance

The benefits that organizations gain from adhering to PCI compliance really can’t be overstated. Failure to comply and the consequences that result can be disastrous. PCI compliance is something that a lot of small businesses tend to push off into the future, but there really isn’t any excuse not to get up to standard immediately considering the numerous upsides. Here are just a few of the most notable:

1) Compliance is essential to maintain customer trust

Thanks to a number of high-profile data security breaches at behemoth companies like Yahoo, AOL, and Adobe, consumers are very aware of how much of their sensitive data is stored and how vulnerable it is if not properly secured. Even consumers that don’t know what PCI compliance means may still know the term, and being able to claim full compliance is a catalyst for establishing immediate trust with customers. Conversely, a data breach caused by a lack of compliance is a surefire way to destroy that trust, and once trust has been damaged, it’s incredibly difficult to repair.

2) Compliance significantly reduces the likelihood of a costly security breach

PCI compliance is all about fighting fraud and data theft, and the standard has been expertly designed by the organizations most interested in eliminating both – the major credit card companies. By adhering fully to all 12 compliance requirements – or better yet, exceeding them – companies can ensure they’ve done everything in their power to keep customer data safe. That’s important considering the immense consequences of failing to do so. Beyond the damage a breach does to a company’s reputation, the costs of defending and settling legal actions, bank fines, and internal and external investigations are enormous.

3) Compliance is an essential part of all merchant account agreements

All reputable merchant accounts from major banks require applicants to fully comply with all of the big credit card companies’ regulations to keep their accounts in good standing. Those credit card companies all mandate PCI compliance. That means failing to be fully PCI compliant puts a company’s merchant account – and in turn their core ability to accept payments – at risk. Many small businesses think they can ignore this requirement because of the small volume of transactions that they process, but even accepting a single credit card payment, whether in-store or online, requires 100% compliance.

Achieving PCI Compliance

To become fully PCI compliant companies must first analyze the current state of their systems and their existing compliance levels. Once that’s done, filling out the PCI self-assessment questionnaire (SAQ) will identify any deficiencies in the 12 individual compliance requirements. If any failure points emerge, they can then be corrected. Very few companies pass the initial compliance evaluation the first time, so fixes should be expected. Once everything is up to standard, a formal attestation of compliance can be filled out and filed with the relevant organizations. Once compliance has been certified, it must be revalidated on a quarterly or annual basis.

Taking the necessary corrective measures and getting systems up to standard can be a daunting task. The easiest way to do it, especially for companies without large tech departments, is to get help from an outside source. Customers who partner with BAMS for their payment processing have access to our experienced team of PCI experts who are there to walk our approved clients through the SAQ and the required quarterly security scans. The BAMS team makes it easier than ever for companies to ensure that they’re fully compliant and safe from the risks associated with failing to meet the standard.

Contact us today for more information on PCI compliance certification and secure payment processing with BAMS.

Two Credit Card Policies Your Business Needs to Set in Stone

Credit cards are a big part of every business. If your store isn’t equipped for credit card transactions, you’ve already put a huge roadblock in the way of your company’s growth. But if you don’t have clear in-store and internal policies, even the best merchant services can’t help your business navigate new regulations. Here are two policies that your business needs to create and regularly review:

What’s your return policy?

Some stores don’t have a lot of returns. But whether you sell retail goods, professional services, or food, you need to have a return policy. It can encompass everything from a poor user experience to product exchanges depending on what you want for your business, but the allowances and limitations need to be clear. It also needs to be posted in your store and easy to find online. Making your return policy clear and visible is the best way to fight invalid chargebacks.

While you’re making any edits, make sure your merchant services can easily accommodate the policy. This includes more than making sure your equipment can handle reversing the transaction. Make sure the fees are low enough that you can afford the goodwill a good return policy brings.

What’s your information storage policy?

The benefit of a merchant services provider is that your company isn’t directly handling credit card information. This is incredibly important if you’re an online vendor. If you handle or store PII or credit card information, your company has to be PCI compliant and secure that information from cyber threats. Find a merchant services provider that acts as a third-party information handler. Also, train your in-store employee on how to treat any credit card information in the store. Ideally, your employees should never write down any details or even handle the cards. Find customer-facing machines to keep the line clear.

For more merchant services tips, browse our blog at BAMS.

4 Sales Tips to Influence People to Buy Your Products

Group of people success business improve successful growth strategy and sales tips increase

Want to increase sales? Use the following sales tips to sell more products, boost your revenue, and increase your ROI:

FOMO

FOMO stands for Fear Of Missing Out. This is what causes people to buy things that are on sale even if they don’t need them and to constantly check what their friends are up to on social media. A limited-time or limited-edition offer with a countdown clock is a great way to tap into the FOMO.

Get Them in the Right Mindset

Before you make your selling point or sales pitch, you need to first get your audience in the right mindset. An example of this is stressing how your product doesn’t cost X amount of money, that amount being much higher than your real price. This gets your audience in the mindset that your product is affordable and cheap because, in their minds, the bar of what is “expensive” or even the industry standard price is now much higher.

Pain and Pleasure

Human beings do things to avoid pain and gain pleasure. People will usually do more to avoid pain than gain pleasure, so don’t just stress how much pleasure your product will bring them; focus on the pain points that brought them to your sales page in the first place.

Cross-Selling and Up-Selling

If you are not upselling and cross-selling products to your customers, you will lose out on a lot of revenue. Many companies gain most of their revenue from the additional products that people purchase, as the first product sale is often needed to cover the costs of advertising. People who are buying are already in the mindset of spending money and will usually buy more than what they originally planned to.

For more sales tips and information on how to sell better online, contact us today and ask about our services.

5 Ways to Tap Into Human Nature to Increase Sales

Business development to success and growing growth concept, Businessman pointing arrow graph increase sales concept

Every good sales professional knows how to tap into human nature to increase sales. Understanding what influences people to make a purchasing decision will help you boost your revenue. Here are some important things that will bring you more sales.

Scarcity

Scarcity increases value. Human nature is to want that which we do not have. If something is in abundance, people will have less of a desire for it. You have to create a perception of scarcity to increase sales. One way to do this is by offering a limited-offer discount.

Reciprocity

People tend to reciprocate favors and good deeds. If you offer your customers valuable information and tips, great customer service and discount opportunities, human nature will lead them to reciprocate the favors by purchasing your products. They will also be more likely to recommend you to a friend.

Social Proof

We tend to measure something’s worth based on how other people value it. Social proof is very important when it comes to sales. Boost the social proof of a product by encouraging your customers to leave five-star reviews and testimonials. Boost the social proof of your company overall by building your social media channels and getting followers and likes.

Authority

Similar to social proof, people tend to place more value on a statement or product that comes from an authority figure. Build up your authority by becoming an information source online, both on your website, on Youtube, and on your social media channels. Start a PR campaign and book appearances on media channels.

Unity

People like to feel as if they are part of something, whether that be a family, a tradition, a belief system, or shared values. That is why your company needs to have a mission and a purpose.

For more information about our services, contact us.