New Payment Processor Claims Alternative to Paypal

by Mercator Advisory Group 0

New payment processor Selz.com says it has an alternative to PayPal for online processing that can help to avoid abandoned shopping carts by handling the payment from the merchant’s website directly instead or redirecting the customer to the processor’s site.

From BusinessDaily.com:

To use Selz.com’s in-page button, website owners choose from a “buy now” button or widget showing the product details and price. The button or widget can be added to their blog, website or online store by cutting and pasting a snippet of code, thus there is no programming required. It can also be added to their Facebook page so customers can shop directly within Facebook, or sellers can use the platform’s built-in sharing tools to post products on their Facebook profile, Twitter account and Pinterest boards.

Selz.com provides an out-of-the-box e-commerce framework that handles everything from secure payments to delivery. The service does not require a contract or a merchant account. While there are no monthly fees, Selz.com charges sellers a flat fee of 5 percent plus 25 cents per transaction. The service is available to buyers and sellers worldwide and supports physical items, such as clothing, artwork, furniture, electronics and merchandise, as well as digital products, including e-books, MP3s, software , and photos. The option to purchase services such as consulting via Selz will be available soon.

Abandoned shopping carts are a problem most online sellers face, and often cumbersome checkout experiences are to blame. PayPal’s checkout service doesn’t fall into that category, regardless of whether it’s through a redirect from a merchant’s own checkout page. Selz.com might want to adjust its marketing pitch to avoid mentioning PayPal, which also charges merchants a much lower rate: 2.9% plus 30 cents, with volume discounts as low as 2.2% with heavy sales.

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