Twelve percent of shoppers used the services of an online retailer in 2011 via their mobile devices, with 6.7 percent making a purchase. This rate is double what it was just a year prior, and the percentage probably will double again this year. Why? Because more people are buying things online using these devices, and so more companies are partnering with online payment processing companies through software as a service, or SaaS. Two years ago, 33 percent of online transactions were conducted regarding travel bookings and online flights. This percentage likely will rise too, due to the increase in people using their devices and tablets for booking flights, buying shoes, and doing everything in between.
This stresses the need for online retailers to employ online payment systems that work effectively and easily both for traditional online shoppers and for those using their mobile devices. These online payment systems should include various elements that make credit card processing online simple, including Level 3 processing and B2B credit card processing for business to business transactions. Level 3 is the strongest and most detailed of the three levels of online payment systems and includes everything from describing an item to describing the quantity to detailing the discount attained to including the postal code where the item will be shipped. With these Internet merchant accounts, the supply chain, which includes vendors, commercial banking institutions, providers of billing and collection services, and outsourcing firms, can connect more easily and make transactions go more smoothly.