E-commerce — она же электронная торговля или электронная коммерция — объединяет все площадки и сервисы, где оплата происходит онлайн. В первую очередь — интернет-магазины, которые принимают электронные платежи
В действительности, e-commerce — это не только финансовые или торговые транзакции, осуществляемые с помощью сетей, но и цепочки глобальных бизнес-процессов, связанных с проведением транзакций.
Сегодня к электронной коммерции относят электронную покупку или продажу товаров через онлайн-сервисы или через интернет, мобильную коммерцию, электронные переводы средств, управление цепочками поставок, интернет-маркетинг, онлайн-обработку транзакций, электронный обмен данными (EDI), системы управления запасами и автоматизированные системы сбора данных.
Первую покупку в интернете совершил американец Фил Бранденбергер в 1994 году. Он заказал на сайте новый альбом Стинга «Ten Summoners’ Tales» и оплатил $12,48 (не считая доставки) своей Mastercard. Чуть позже на рынок пришли Amazon и Alibaba, которые стали его пионерами и монополистами.
Виды e-commerce
Электронную торговлю можно классифицировать по двум признакам:
- физические товары — продукты, одежду, мебель, электронику, бумажные книги;
- цифровые товары — музыка, кино и сериалы, электронные книги, онлайн-курсы;
- услуги — фотосъемка, уборка, помощь с переездом и т.д.
- b2c (business to consumer, «бизнес для потребителя») — интернет-магазины, которые продают товары или услуги потребителям напрямую, то есть в розницу;
- b2b (business to business, «бизнес для бизнеса») — компания продает что-то другим компаниям. Это может быть оптовая торговля — чтобы покупатель потом реализовал эти товары потребителям в розницу. Или же товары и услуги, предназначенные для корпоративных нужд: например, кассовое оборудование, облачные хранилища и сервисы, международная доставка грузов;
- c2b (consumer to business, «потребитель для бизнеса») — отдельные люди (физлица) предлагают товары и услуги для компаний. Яркий пример — исполнители на аутсорсинге: дизайнеры, программисты, создатели контента;
- c2c (consumer to consumer, «от потребителя к потребителю») — люди продают друг другу товары и услуги напрямую: няни, репетиторы, кондитеры, дизайнеры одежды;
- g2b (government to business, «от правительства к бизнесу») — государственные органы поставляют что-то для бизнеса: например, использование радиочастот, воздушного пространства, сервисов для сбора и обработки данных;
- b2g (business to government, «бизнес для правительства») — обратный процесс: например, товары и услуги в рамках госзакупок, ПО, электроника;
- c2g (consumer to government, «от потребителя к правительству») — когда потребители оплачивают различные госуслуги.
Два самых распространенных типа — b2c и b2b.
Как развивается e-commerce в России и мире?
С ростом цифровизации и массовым переходом в онлайн e-commerce стала драйвером ключевых изменений в мировой экономике. Доступ к электронной коммерции сегодня возможен с любого смарт-устройства: к апрелю 2022 года в мире насчитывалось 5 млрд уникальных пользователей интернета, что составляет 63% населения Земли. Соответственно, меняются подходы к тому, как запускать и продвигать новые продукты.
Вот главные цифры на сегодня:
- В 2021 году число онлайн-покупателей в мире достигло 2,14 млрд человек. В 2019 году их было 2,05 млрд, а в 2018-м — 1,79 млрд.
- Всего на электронную торговлю в 2021 году пришлось более 18% от всех розничных продаж в мире, а в 2023-м — 22%;
- Объем интернет-продаж в 2022 году составит $5,5 трлн;
- Среди главных причин, по которым люди заказывают товары онлайн — бесплатная доставка (53%), акции и скидки (41%), возможность прочитать отзывы (35%), простота возврата (33%) и скорость оформления заказа (30%);
- 33,6% клиентов перед покупкой сравнивают цены на товары в онлайн-приложении и обычном магазине, 81% подробно изучают информацию в Сети перед крупными покупками.
Сегодня Китай — абсолютный лидер онлайн-торговли: в 2021 году сегмент e-commerce там впервые в мире превысил половину всего рынка розничных продаж. Следом идут Южная Корея с 28,9%, США с 15% и Западная Европа с 12,8%. Объем онлайн-продаж за 2020 год в Китае составил $2,3 трлн, в 2021-м — почти $2,8 трлн, а в 2022-м ожидается около $3,1 трлн.
Для сравнения, в США рынок e-commerce в 2020 году, по данным eMarketer, составил $709,8 млрд и превысит $1 трлн к 2024 году. Почти половина (45%) всей электронной торговли в стране приходится на продажи через мобильные приложения.
По данным Ассоциации компаний интернет-торговли, объем рынка электронной коммерции в России за 2021 год составил ₽3,6 трлн. Это на 13% больше, чем годом ранее.
Поддержка электронной коммерции в России на период до 2024 года регулируется нацпроектом «Цифровая экономика». Основными целями документа являются повышение внутренних затрат на развитие цифровой экономики за счет всех источников (по доле в валовом внутреннем продукте страны) минимум в три раза по сравнению с 2017 годом, и создание устойчивой, безопасной и общедоступной информационно-телекоммуникационной инфраструктуры высокоскоростной передачи, обработки и хранения больших объемов данных.
Самые успешные кейсы е-commerce
Монополист китайского рынка e-commerce и одна из крупнейших компаний в мире. Рыночная капитализация Alibaba на июнь 2022 года составляет $282 млрд, что делает ее 26-й в списке самых дорогих компаний мира. Компания основана в 1999 году и работает в трех направлениях: b2c (Tmall и Aliexpress), b2b (Alibaba) и c2c (Taobao). Все три платформы уже вышли на международный рынок (включая Россию), однако основная доля по-прежнему приходится на внутренний. У компании также есть своя платежная система Alipay, которая работает как международная.
Модель Alibaba аналогична eBay: она выступает в качестве агрегатора для продавцов — физлиц, магазинов или производителей — которые сами отправляют товар покупателям.
Главный конкурент Alibaba в Китае. В отличие от Alibaba, JD.com работает по модели Amazon: отгружает товары сторонних продавцов с собственного склада и отправляет через свою службу доставки. На конец 2020 года у компании было более 900 складов общей площадью 21 млн кв. м. В составе холдинга есть своя социальная платформа — Jingxi, а также сети магазинов у дома Xintonglu и JD New Markets и даже собственное направление коммерческой недвижимости. В ближайшем будущем JD планирует запустить свою цифровую валюту — e-CNY.
Amazon
Amazon — самый крупный розничный продавец в сфере e-commerce в США и один из крупнейших в мире. Компания располагает огромной сетью складов и сортировочных центров, а также собственной службой доставки, которая использует дронов и роботов, а в 2020 году приобрела еще и самолеты Boeing 767. Помимо основной b2c-платформы, есть также Amazon Business для клиентов-юрлиц.
Как устроена логистика в Amazon
Компанию основал в 1994 году Джефф Безос — изначально это был книжный онлайн-магазин. Спустя 25 лет Безос стал самым богатым человеком в мире с состоянием в $191,4 млрд, а сам Amazon — мировым гигантом онлайн-торговли. рыночная капитализация компании на июнь 2022 года достигает $1,07 трлн, а ее выручка за 2021 год составила $470 млрд — на 22% больше, чем годом ранее. Чистая прибыль за тот же период выросла на 57%.
Сейчас 60% дохода Amazon приносят ИТ-решения Amazon Web Services — облачные хранилища и сервисы. Компания регулярно запускает различные продукты и сервисы под своим брендом: электронные читалки Kindle, элементы «умного» дома, голосовой помощник Alexa, онлайн-кинотеатр Amazon Prime. У Amazon есть и офлайн-магазины Amazon Go. Они работают при помощи нейросетей с распознаванием лиц и компьютерным зрением: здесь нет касс и продавцов, а покупки оплачиваются автоматически через приложение.
Выпуск YouTube-канала «РБК Тренды» о магазинах без продавцов
EBay
eBay был создан в 1995 году как сервис онлайн-аукционов c2c: продавцы выставляли на аукцион вещи (часто подержанные), а покупатели делали ставки. Доставка товаров при этом лежит на продавце, а сам сервис берет комиссию за размещение лотов и занимается урегулированием споров. Позже на платформе появились коммерческие аккаунты частных предпринимателей и магазинов, а покупать стало можно и по фиксированной цене.
У eBay, как и у Amazon, есть свои сайты в разных странах — включая Россию. Однако компания не стала развивать дополнительные сервисы и собственную логистику. eBay так и остался онлайн-агрегатором, чья главная особенность — в том, что здесь можно найти редкие коллекционные вещи и даже ценный антиквариат. Выручка за 2021 год составила $10,5 млрд. Число активных пользователей на 31 декабря 2021 года составило 147 млн человек.
ASOS
Компания основана в 2000 году, а ее название расшифровывается как «As Seen On Screen»: «То, что ты видел на экране». Британский маркетплейс также работает по модели Amazon: агрегирует товары от поставщиков на своих складах и доставляет по всему миру. В основном это одежда, обувь и аксессуары брендов массмаркета, а несколько лет назад к ним добавилась еще и косметика. Биржевая капитализация — $1,1 млрд. У магазина есть локальные версии в разных странах Европы.
Wildberries
Один из крупнейших российских онлайн-ретейлеров на рынке уже 15 лет, а его основательница — Татьяна Бакальчук — возглавляет рейтинг богатейших российских бизнесвумен по версии Forbes: ее состояние оценивается в $21 млрд.
Wildberries продает одежду, обувь, аксессуары, бытовую технику и электронику, товары для дома. Все это компания доставляет с собственных складов через пункты выдачи (в 2020-м доля таких заказов составила 93%) или курьеров. В 2020 году оборот компании вырос на 96% по сравнению с 2019-м — до 437,2 млрд рублей, а число заказов — до 323,8 млн, достигнув 1,5 млн в сутки, что вдвое больше прошлогоднего показателя.
Ozon
Еще один гигант российского e-commerce с оборотом продаж почти ₽450 млрд за 2021 год
Компанию основали в 1991 году. Как и Amazon, первый интернет-гипермаркет в России начинал с торговли книгами. Сегодня 24% продаж Ozon приходится на электронику, остальное распределено между книгами, бытовой техникой, одеждой, косметикой, продуктами и прочими товарами. Как и Wildberries, маркетплейс сделал ставку на расширение пунктов самовывоза, причем с 2020 года делает это только под собственным брендом, а не через партнеров. Ozon доставляет товары в собственные постаматы и курьерами. Компания также запустила сервис по продаже авиабилетов Ozon.Travel.
«Яндекс. Маркет»
«Яндекс.Маркет» пришел на рынок 20 лет назад. До 2018 года развивался как агрегатор для интернет-магазинов, с 2018 года параллельно строил маркетплейс «Беру», который в 2020 году стал частью «Яндекс.Маркета». Сегодня это — маркетплейс, где магазины могут продавать свои товары, а пользователи — совершать покупки, выбирая из ассортимента в 4 млн товарных наименования.
Продавцам «Яндекс.Маркет» предлагает четыре модели сотрудничества с маркетплейсом:
- отгрузка и доставка товаров силами магазина, маркетплейс как витрина;
- отгрузка и доставка товаров со склада маркетплейса;
- отгрузка товаров со склада продавца, доставка силами маркетплейса;
- отгрузка части товаров со склада продавца, части — со склада маркетплейса.
Маркетплейс «Маркета» также предлагает другие сервисы для продавцов и покупателей: поиск по десяткам фильтров, сравнение цен на один и тот же товар, отзывы покупателей, рейтинги магазинов и платное продвижение.
На конец 2020 года на «Яндекс.Маркете» продавали свои товары более 8 тыс. продавцов, по рекламной модели размещалось 25 тыс. магазинов-партнеров, ежедневная аудитория достигла 6 млн уникальных посетителей.
Будущее электронной торговли
Рынок e-commerce продолжит расти. По данным Nasdaq, к 2040 году до 95% всех покупок будут совершать в интернете.
Среди глобальных трендов в развитии электронной торговли стоит выделить:
- осознанное потребление (экологичные перерабатываемые товары в противовес одноразовым),
- бесшовный (омниканальный) шопинг,
- внедрение дополненной и виртуальной реальности,
- «невидимые» платежи и оплата по лицу.
Другими словами, магазины стремятся сделать процесс покупки не только максимально быстрым и комфортным, но еще и увлекательным. Это, помимо прочего, становится вызовом для классического маркетинга.
Как работают AR-функции в приложениях Amazon, Gap и других
Электронная торговля берет курс на персонализацию: за счет «умного» поиска и подбора товаров, персональных рекомендаций, онлайн-стилистов и прочих инструментов. ИИ сможет анализировать все ваши покупки и предпочтения, составляя личные рекомендации с учетом ваших особенностей. Продуктовые сети уже реализуют подбор товаров на основе генетического теста и базовых медицинских показателей.
Подробнее о том, как будет развиваться онлайн-торговля продуктами и готовой едой — в материале РБК Трендов.
Еще один заметный тренд — гибридные форматы: когда офлайн-супермаркеты и розничные сети переходят в онлайн и открывают целые зоны для самовывоза или оформления покупок через интернет. Другой пример сочетания офлайн- и онлайн-формата — магазины Amazon Go: клиент может купить любой товар без касс и продавцов с помощью приложения и камер с распознаванием лиц.
Среди других трендов:
- под давлением рынка цифровизацию постепенно воспринимают даже в консервативных сферах потребрынка, завязанных на офлайн-продажи — например, застройщики и автодилеры;
- мировой рынок b2b e-commerce, который уже превышает обороты b2c, будет расти опережающими темпами, в среднем 17,5% ежегодно до 2027 года;
- мобильные приложения вытеснят все прочие каналы онлайн-продаж — на помощь потребителям придут «умные» голосовые помощники, AR-приложения для примерок, а также оплата при помощи PayPass.
Learn about the services you’ll need to launch an eCommerce business, including payment services, merchant accounts, shopping carts, payment gateways, and shipping.
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The ability to buy and sell on the internet has only been available for only a few decades. In that time, however, the eCommerce industry has expanded dramatically, disrupting traditional retail industries and opening up a new world of opportunity for both merchants and consumers alike. Consumers are no longer limited to buying only things that are available in their local areas. Merchants, on the other hand, can expand their customer base from just the people living nearby to practically the entire planet.
Whether you’re looking to start an eCommerce-only business or add an online presence to your existing retail operation, there are several things you’re going to need before you can ring up your first sale. The most important thing you’ll need right away is a means for your customers to pay for their purchases. Unlike retail merchants, who can always accept cash or paper checks, you probably need to be able to accept credit and debit cards (or failing that, ACH or digital wallet payments). Traditionally, the only way to accept these types of payments was through a merchant account, which is simply an account that processes your customers’ payments and transfers the funds to you, the merchant.
Today, however, you also have the choice of using a payment service provider (PSP), which performs the same basic functions as a merchant account but doesn’t come with a bewildering assortment of fees and complicated processing rates.
Square and PayPal are popular examples of payment services providers.
This article briefly discusses the services you’ll need to launch an eCommerce business, including online shopping carts, payment gateways, and shipping services (for sellers of physical goods). Then, we’ll discuss merchant accounts in-depth, including the features you’ll want to look for and how much you can expect to pay for them. We’ll also recommend several of our highest-rated providers that are ideal for a web-based business.
Table of Contents
What Is An eCommerce Merchant Account?
An eCommerce merchant account is a merchant account specifically geared toward online sellers. The merchant services provider should offer tools and integrations to make online transactions easy and safe for both customers and eCommerce merchants. This includes payment gateways, security measures, and web dashboards.
But what is an eCommerce merchant to begin with?
- Traditional retailers with an online focus (clothing, shoes, accessories, etc.)
- Artists, artisans, and crafters with handmade or limited-run goods
- Subscription box businesses
- Digital creators (musicians, actors, & other content creators)
- Software-as-a-Services (SaaS) providers
The key point is that these businesses sell primarily, if not exclusively, via the internet. And as such, their needs for payment processsing are more specialized.
“eCommerce merchant services” can generally mean any payment processor that offers the ability to accept payments online.
However, most eCommerce merchants will be better off looking at services that offer more toolsets and services that are optimized for online sales. It’s important to understand that “merchant services” is an umbrella term that encompasses payment processing, reporting, business software, and sometimes even merchant cash advances. Not all payment processors or merchant services providers offer true merchant accounts — some instead fall under the category of “payment service provider” (PSP) or “third party payment processor.” For the purposes of this article, we’re talking about both traditional merchant accounts and third-party processors that can accommodate eCommerce.
Why Do You Need An eCommerce Merchant Account?
So seeing as there’s nothing special about the merchant accounts (or aggregated merchant accounts) that accept eCommerce transactions, why do you need eCommerce merchant services?
For starters, you probably don’t need all the brick and mortar POS hardware and infrastructure offered by traditional merchant services. You will, on the other hand, generally want the specialized tools and features eCommerce merchant services offer online sellers. Because having an online presence is all but mandatory for businesses these days, almost all merchant services offer both. However, each provider tends to focus more on one than the other.
If an eCommerce merchant services provider offers any services for in-person credit card processing, they are usually quite limited. Likewise, if you opt for a general merchant account, you’ll have most of the basic tools to sell online and in-person, but you’ll likely miss out on advanced technical features that allow you more power and control over your eCommerce shop.
The 3 Best eCommerce Merchant Services For Online Businesses
The best eCommerce merchant account services for online businesses combine excellent shopping cart tools, payment gateways, and security features to make online transactions simple and easy. Here are four of the best providers of eCommerce merchant accounts, including Square, Stripe, and Payment Cloud.
Get a free card swiper from Square at no cost when you create a free account. Claim your card reader.
Best for eCommerce businesses that also do face-to-face transactions.
- Comprehensive feature set
- Predictable flat-rate pricing
- No mandatory monthly fees
- Free online store/website
- Excellent brick and mortar support
- Account stability issues
- May not be suited for high transaction volumes
- Limited international sales support
Square, one of the leading third-party processors in the business, began as a convenient POS system for brick and mortar businesses. That’s still where its strengths lie: you’ll find Square offers quality hardware and expansive support software for small businesses. Over time, however, Square has come to offer quality eCommerce support and infrastructure that includes a free online store and shopping cart support. If your sales are made up of a mix online and offline transactions, Square can be a great way to do both with minimal fuss.
Square uses a flat-rate pricing model for all of its transactions. For eCommerce transactions and invoices, Square charges 2.9% + $0.30, which is more or less the standard industry flat-rate fee for online payments. Square gives you a lot for “free,” including its classic magstripe card reader for mobile devices, a payment gateway, and a virtual terminal, but monthly fees are required for some of the meatier software.
Square is a great all-in-one solution for businesses that do a relatively low volume of transactions.
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Read our in-depth review
Jump back to comparison chart
Best for tech-savvy eCommerce businesses.
- Excellent developer tools
- Predictable flat-rate pricing
- Advanced reporting, marketplace, and subscription tools
- Able to handle multiple currencies and international sales
- Account stability issues
- Needs technically skill to fully take advantage of platform
- Gateway cannot be used independently
Stripe has made a lot of effort to position itself as the Square of eCommerce. With a similar focus on being a one-stop-shop for its customers—as well as a third-party processor—Stripe mostly lives up to the comparison. However, where Square is easy to use, Stripe focuses on giving developers tools to make it easy to customize.
Stripe is open to merchants worldwide with numerous currency options and support for many alternative payment methods and local payment options across North America, the EU, and Asia. You’ll also find a great selection of marketplace tools and recurring billing options. Stripe gives you a gateway, a hosted payment page, PCI compliance, and the ability to migrate your customer data if you ever decide to leave.
Stripe charges a flat 2.90% + $0.30 per transaction. There’s no monthly fee, no monthly minimum, and no PCI compliance fee. Stripe also offers ACH payments at 0.8% that are capped at $5 per month for ACH debit and $1 per ACH credit payment. Stripe’s more advanced features tend to come at an increased cost per transaction, so make sure you’re getting a good return on your investment before you tack on too many optional features.
Get Started With Stripe Payments
Exclusive Promo: PaymentCloud will give you $200 if they can’t beat your current rate. Get Your Quote
Best for high-risk businesses.
- Reasonable rates and fees
- Excellent customer support
- Flexible with payment gateways
- No publicly disclosed pricing
- You’ll likely need to sign a long-term contract
Businesses that deal in products or services that are considered high-risk (think anything that could fall under the category of «vice») will find that they have far fewer options available to them as far as payment processors go. Nevertheless, that doesn’t mean you should accept just any service. PaymentCloud is a good example of what you should look for in a high-risk payment processor.
PaymentCloud doesn’t skimp on eCommerce support, coming with shopping cart integration, ACH processing, and the ability to use any compatible payment gateway that you want.
As is usually the case for high-risk payment services, we don’t have access to pricing information in advance. That’s because companies such as PaymentCloud shop your profile around to various back-end processors to get you the best deal that they can. Typically, this means tiered-pricing, monthly minimums, and contracts (at least initially), but you can expect to be treated fairly by PaymentCloud.
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4 Must-Haves For Any Commerce Merchant Account
There are some essential eCommerce-related features you’ll want in a payment processor.
Online Shopping Carts
Of course, you’ll want to select a shopping cart that integrates seamlessly with your chosen payment gateway. Both your shopping cart and your gateway must also, in turn, integrate with your merchant account. As long as you stick to a well-known shopping cart, you shouldn’t have any problems. Nonetheless, you should definitely confirm that your chosen cart is compatible with the other elements of your system before you commit to using it.
Payment gateways cause a lot of confusion because brick and mortar merchants don’t require them, but they’re absolutely necessary for eCommerce. More confusingly, sometimes payment gateways are integrated into a service (as in the case of Stripe) while other times they’re a standalone service that is added to your merchant account services.
Payment gateways serve as interfaces between your website and your merchant account provider’s processing network. They send transactions to the processing network so that a purchase can be authorized and transaction processing fees can be assessed. Payment gateways also include a number of very valuable features, from security services that protect your customers’ credit card information to databases that can store your customer’s information (i.e., name, billing address, shipping address, credit card information, etc.) so they don’t have to re-enter it every time they shop on your site.
Support For Multiple Payment Types
Brick and mortar businesses have the luxury of being able to accept cash, eCommerce merchants do not. That means you’re going to have to rely on online-friendly payment methods. The more you can accommodate, the fewer customers you’ll turn away at checkout.
What kinds of payment methods? Credit and debit cards are a given. Some industries will to offer the convenience of taking American Express or Discover if they’re popular among their clientele. Less necessary but worthy of consideration are digital wallets (ApplePay, etc.), which offer more security than the typical online transaction. Businesses that do recurring payments and subscriptions may want to consider eCheck/ACH payments. Finally, if you’re doing business internationally, you should consider a service that allows you to accept payment methods that are popular in those countries.
Chances are you use several different pieces of software to run your business, with each offering a specific advantage. While it’s certainly possible to use all these different systems completely apart from one another, you’ll save a lot of time and repeated effort if they all play nicely together.
Integrations, in other words, are the ability to access one program from within another. Whether it’s through a native integration or an API call, having all your core programs able to talk to one another is a feature you’ll want to consider when looking for an eCommerce-ready processor.
How To Choose The Right eCommerce Merchant Services For You
Of all the services you’ll need to run your online business, merchant accounts are, unfortunately, the most complicated to understand. There’s a lot of terms and jargon that you may not be familiar with, as well as a host of confusing options to choose from when selecting the provider that’s best (and most affordable) for your business. We’re here to help.
The industry standard for a merchant account a fixed-length contract with an initial term of three years, an automatic renewal clause that extends the contract for one-year periods after that, and an early termination fee (ETF) that the processor will charge you if you break your contract by closing your account early.
However, more and more services are doing away with long-term contracts and allowing customers to go month-to-month. Unless you have a high-risk business, we recommend avoiding merchant services that try to lock you into a contract.
Figuring out how much you’re going to pay to process a credit card transaction is one of the most complex aspects of understanding any type of eCommerce merchant service.
In all cases, your provider has to deduct interchange fees, which have to be paid to the credit card associations (i.e., Visa, Mastercard, etc.). They’ll also charge their own fees that go to the processor and the merchant account provider, although this is usually only a small portion of your overall processing cost. How they determine your total processing cost will vary from one provider to the next. However, there are four common pricing schemes that are used by almost all providers:
- Flat-rate pricing: Often marketed to newer businesses, flat-rate pricing is simple and straightforward: you pay the same price for any card-based transaction. This will effectively be a mark-up for some transactions, and a discount for others. Good for starters, but you may outgrow it.
- Tiered pricing: Different transactions are charged different rates based on tiers. Usually the lowest tier’s price is what’s advertised. We don’t like tiered pricing because there’s no telling what rate an individual transaction will be charged.
- Membership pricing: Also known as subscription pricing or wholesale pricing, membership pricing is similar to interchange-pricing except it reduces your per-transaction charge in exchange for a monthly fee. Great for high-volume processing.
Are you already selling offline and want to branch into eCommerce? Or are you starting from scratch and going online-only? That answer may change what you’re looking for from a merchant account provider. If you’re selling offline, you probably already have a merchant account. In that case, you’ll want to look for a compatible gateway and shopping cart support. If you’re starting from scratch, you might prefer an all-in-one service.
Common Questions About eCommerce Merchant Accounts
An eCommerce merchant is someone who sells products or services online.
What services do eCommerce merchant accounts provide?
eCommerce merchant account providers offer services designed to allow you to sell online. Services include payment processing, a payment gateway, shopping carts, and sometimes webspace.
Do I need both an eCommerce merchant account and a payment gateway?
Small businesses need both a merchant account and a payment gateway if they want to process online transactions.
What is the best payment gateway for eCommerce?
The best payment gateway for eCommerce is the one that plays nicely with your payment processor. Authorize.Net is popular for a reason, though we’d recommend getting them through a merchant services provider rather than signing up directly.
Get Started With eCommerce Merchant Services
Starting an eCommerce business is never easy, but it’s far less challenging today than it was just a few years ago. Whether you opt for a payment service provider or sign up for a full-service merchant account for ecommerce, choosing the right provider is a critically important step in getting your business off the ground.
As we’ve noted above, merchants processing over $5,000 per month in credit/debit transactions will typically save money (and receive better service) with a true, full-service merchant account. Payment service providers such as Square (see our review) are a better choice for those processing less than $5,000 per month. Because PSPs typically don’t charge monthly fees or impose long-term contracts, it’s easy to switch to a genuine eCommerce merchant account once your business reaches this threshold.
For a more in-depth look at specific providers, check out our article, The 6 Best Online Credit Card Processing Companies for Small Businesses, for an overview of our top choices for credit card processors for your online business.
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
View Chris Motola’s professional experience on LinkedIn.
If you’re the owner of an e-commerce business, it’s important to have a deeper understanding of your numbers to grow your business into a healthy, profitable one. E-commerce accounting might not be fun, but it’s a painful necessity for you to comprehend the health of your company, plan for future growth and file your taxes accurately.
Here’s what you need to know about e-commerce accounting, so you can always stay on top of things.
What Is E-Commerce Accounting? Is It Similar to Bookkeeping?
While accounting and bookkeeping sound interchangeable, they are not synonymous. Instead, they work together to complement each other.
involves the daily recording of your transactions and financial documents to organise your business finances. This information is then passed on to the accountant.
Think of as the process that lets you review your business’s financial health, involving reports, taxes and figures for growth planning. Some may think that the traditional accounting method would apply to e-commerce businesses, but that would not suffice.
Since e-commerce is a business that never sleeps, it involves unique aspects that should be recorded for accuracy and smart financial management.
2 Types of Accounting To Keep a Record for Your Business
A financially savvy business runs on a set of processes and a well-defined system. Take time to understand the types of e-commerce accounting and determine the best solution for your business.
Cash Basis Accounting System
Cash basis accounting is the process of recording your revenue or expenses when you pay or receive money. Businesses that employ this method recognise revenue and expenses only when the money arrives or leaves their business bank account. These include government agencies, non-profit organizations, community associations and small service businesses since they do not sell on credit and pay bills when they are incurred.
Advantages of Cash Basis Accounting System
- Its simplicity easily reflects your finances available on hand
- Simpler option to calculate GST, but businesses are required to use the accrual basis accounting system under the Hong Kong Financial Reporting Standards (HKFRS) and Small and Medium-Sized Entities Financial Reporting Standards (SME-FRS). This is especially important In Hong Kong, as every company would be audited by an HK Certified Public Accountant (CPA).
Disadvantages of Cash Basis Accounting System
- It is inaccurate and could reflect only your profitability if you have yet to pay your bills
- Poses challenges when it comes to management decisions since it only provides a day-to-day overview of your finances
Accrual Basis Accounting System
Accrual basis accounting is the process of recording your revenue or expenses when you get billed or send an invoice. Businesses that make use of this method acknowledge revenue as soon as the customer is invoiced. When the business receives a bill, this is acknowledged as an expense even if the payment will not be incurred for another month.
Advantages of Accrual Basis Accounting System
- Provides a holistic view of your business finances and performance
- Enables more confident decision making
Disadvantages of Accrual Basis Accounting System
- It is a much more complicated process since you have to keep tabs on invoices and your business bank account
- You may have to pay income tax before your customer has made payment to you
Here’s how accrual-based accounting works:
Bi-weekly income: HK$ 56,000
From the above table, company XYZ made HK$ 50,000 in week 1 from their online furniture sale. The payment was immediately received by the company’s business bank account. Subsequently, in week 2, XYZ saw HK$ 25,000 in the sale of apparel, but the payment has yet to be cleared. However, this transaction should still be noted at the point of sale.
While the HK$ 9,000 shipping costs from shipping apparel were immediately taken out from the company’s bank account, the HK$ 10,000 platform fee from the sale of furniture will not be due until the next 30 days. This means that the HK $9,000 will remain in the company’s bank account temporarily, but should be recorded as an expense at the point of sale.
If you are just getting started, the accrual basis accounting system might be difficult to comprehend. However, it will greatly benefit your business in the long run, provided in-depth information on your business’s finances and enabling you to make better financial decisions for your company’s future growth.
Unique Aspects of E-commerce Accounting
E-commerce accounting involves much more data points with unique nuances in comparison to a traditional business model since activities are ongoing 24 hours a day.
Recording this information the way you would for traditional accounting would lead to inaccuracy, which would eventually impact your business when it comes to financial decision-making and future growth.
Here are the three main aspects you need to understand about e-commerce accounting so you can fully comprehend your cash flow and profitability:
In a traditional business, the transactional data are usually found in credit card statements or the business bank account. However, the transactional details for your e-commerce business should be located at the backend of your selling platforms.
Here’s what you should look out for:
Delve into the backend of your selling channels and break down the transactions when you are maintaining your records. Avoid recording what is reflected in your business bank account, as that amount is likely to be made up of 20 to 30 transactions that include sales, returns, sales tax, chargebacks and even shipping that is paid by your customers. Thus, recording this information will result in the gross inaccuracy of your profit.
Alexander has received his bank statement for January, which reflected a net deposit of HK$ 25,000. He proceeds to record this down as his profit for the month, neglecting the fact that he has yet to factor in the sales tax and shipping. He does the same thing for the subsequent few months, and this eventually affects his numbers.
Similarly, avoid recording the time of transaction shown in your bank account. This is not indicative of the actual transactional timing, which could be found in your selling platform’s backend.
On 17 January, Maximillian sold her Apple AirPods Max on Alibaba. However, Alibaba processed the payment only in February, which resulted in her bank statement reflecting this transaction on 14 February. Maximilian records 14 February as her time of the transaction, which is inaccurate. Unfortunately, the customer was unhappy with his Apple AirPods Max purchase and wanted a refund. Due to her error in recording, Maximilian was unable to locate the time of the transaction, which led to complications.
- Managing inventory and the controls around your most important assets
- Accounting for the flow of inventory
- Computing advanced COGS number for each product SKU
- Understanding bookkeeping principles for the management of inventory and COGS (you’d be surprised that many bookkeepers tend to get this aspect wrong!)
As an e-commerce business, you are likely to face foreign transaction costs regularly. Using the right tool to reduce transaction costs can help your company to profit even further.
The Complexities of E-commerce Accounting
Inventory management can be a headache when it comes to keeping track. Some units of inventory could still be in production, while others could be on the way to you, or just sitting in a shopper’s shopping cart.
Whatever the case, figure out a tracking system that best works for your business model. Doing so would help in the future when your business grows and receives an influx of transactions and a number of SKUs as you foray into different countries and the marketplace.
Keep Track of Sales Tax Liability
A common mistake e-commerce business owners in Hong Kong make is not filing their profit tax return on time. While Hong Kong has a low-rate tax system, they have penalty fees in place. If you’re liable for tax outside your familiar jurisdiction, consider enlisting the help of third-party services to help you manage local tax and stay on top of things. We can help with that, by the way.
Save time, free your mind and focus on your business
We know how preparing financial statements yourself is a pain in the neck, just leave it to us at Osome!
We’ve got expert corporate secretaries who have your back, do accounting and optimise tax for your business. We advise what tax exemptions and tax reliefs your company is entitled to and help you file documents to the authorities on time, and we organise your reports exactly the way needed to comply.
Don’t take our word for it though, try out for yourself today! Book a demo with our team here, and let your accounting woes be a thing of the past!
Accountants for effortless growth
Retire your traditional accountant. From returns to discounts, gift cards and global VAT needs, we know ecommerce.
Tailored financial management for online sellers
Accountants that know ecommerce
We can handle processing sales platform fees, discounts, refunds and gift cards. Chat with your local accountant through our app and live chat, and they’ll reply within one day.
Directly integrate sales platforms
Say goodbye to platform hopping. We process platform fees, discounts, returns, and gift cards with Amazon, Shopify and eBay connections. Plus, we process payments from PayPal, Stripe and Square.
Easily sell in international markets. We automatically calculate and file for VAT for every country you sell in.
What you get
Full control and transparency of your sales
- Experts on the groundExpand your business into new markets. Get VAT automatically calculated and returns filed for the country you sell in.
- Absolute clarityKnow exactly what makes you profit. Get complete run-downs for each SKU, market and specific country tax rates.
Easy-to-use tools to handle all your business operations
Know what makes you money
Review revenue and costs at the channel, SKU or country level for cross-border sellers.
Restock what sells
Know the best performing SKUs so you can order them before they run out.
Easy payments from upload to paid
Simply drag&drop the bills: we accurately extract billing data, show you prioritised list of payments so you know what to pay first, and help you pay in a click.
Get clear on your cash flow
See your balance aggregated from all connected ecommerce platforms and bank accounts.
Real-time data
We connect your bank accounts via open banking and exchange data instantly to power your decision making.
From bookkeeping to filing tax
We process your documents within 24 hours. You get a snapshot of your financials at any given moment. When it’s time to file, we have reports at the ready and reach out to you to sign and approve.
Your accountant is always there
Talk to your accountant via live chat, ask questions and get answers within 24 hours.
Who we help
For new and experienced digital entrepreneurs
- DropshippersMake the most of your margins and get seamless returns support. All with the help of our experts.
- Your own brandWhether you’re set up in your garage or opening up your first office. Our services scale as and when you need them.
- White-label sellersFocus on growing your products and revenue sources. We’ll handle the taxes, filing and financial back end.
Plans to fit your business
“Osome just made everything easier.”
James Pinder, Cornish Supply Co.
Facts & numbers
of customers recommend Osome services
“Osome was able to offer me the complete accounting + bookkeeping package to free up so much of my time.”
Switching to Osome is simple
We chat directly with your previous accountant to get all the information required, and transfer your accounting software subscription and data all in one go. Making your transition to Osome effortless.
FAQ
- What is an ecommerce accounting?The definition of ecommerce accounting is reporting your ecommerce business financials to the government. As an online vendor, you move products in and out, manage stock, and sell to customers in different countries via different channels. So, there are several things your ecommerce accounting includes:Bookkeeping, which lists every transaction. For example, when you accept products to your storage, sell on Amazon, or have to accept back a pair of shoes on eBay. Bookkeeping keeps track of every money or asset movement and provides a document covering every event.Management reports gather all the sales data and try to make sense of it. For example, how much of each product you sold, what are the costs of operating every channel, and where do you actually make money.Tax filing & statutory reports. These depend on where you sell, for each government has a different tax system. Tax reports constitute a very detailed recount of every transaction and the categories they fall under. Depending on the categories, different types of tax are derived. An experienced accountant can also help make sure you get the benefits and exemptions available to your business under each specific tax code.
- Bookkeeping, which lists every transaction. For example, when you accept products to your storage, sell on Amazon, or have to accept back a pair of shoes on eBay. Bookkeeping keeps track of every money or asset movement and provides a document covering every event.
- Management reports gather all the sales data and try to make sense of it. For example, how much of each product you sold, what are the costs of operating every channel, and where do you actually make money.
- Tax filing & statutory reports. These depend on where you sell, for each government has a different tax system. Tax reports constitute a very detailed recount of every transaction and the categories they fall under. Depending on the categories, different types of tax are derived. An experienced accountant can also help make sure you get the benefits and exemptions available to your business under each specific tax code.
- How do I start an ecommerce business account?When organising accounting for ecommerce sales, you need to make sure that you have all your needs covered.All your channels. Do you sell via different platforms? It would help if you could consolidate reports from various sources.All your tax jurisdictions. Do you sell in more than one country? You need to report for VAT everywhere you make money.No manual paperwork. Processing invoices and receipts is tiresome, and you probably have better ways to spend your time than that.
- All your channels. Do you sell via different platforms? It would help if you could consolidate reports from various sources.
- All your tax jurisdictions. Do you sell in more than one country? You need to report for VAT everywhere you make money.
- No manual paperwork. Processing invoices and receipts is tiresome, and you probably have better ways to spend your time than that.
- How do I record online sales on Amazon?The best way to track online sales on Amazon is to connect directly to bookkeeping software. We have created our own software available on the desktop or as a mobile app. Whenever you receive a statement from Amazon, it will automatically appear in your Osome account. We take it, sort it into categories, tag it, and deliver up-to-date financials daily.
- Which accounting software and bookkeeping software do you use?We have created our own software available on the desktop or as a mobile app. It shows the daily balance from all connected banks, your outstanding invoices, and the documents you need to upload. We answer questions fast in a chat, track deadlines, and reconcile transactions daily.
Fresh insights from the blog
- What Is The Meaning Of A Limited Liability Partnership (LLP)?Explore the world of Limited Liability Partnerships (LLPs) and discover their unique characteristics. Protecting partners’ personal assets, providing flexibility in management and profit sharing. Weigh the pros and cons, and learn how to set up an LLP to suit your business needs.
- A Complete Guide To Ecommerce AccountingMaster ecommerce accounting with Osome’s comprehensive guide, covering bookkeeping, taxes, and more. Unlock financial insights to grow your online business and ensure compliance. Small business owners, don’t miss out! Read the full article and elevate your financial game today.
If you have set up an E-commerce business in Singapore, there is a crucial aspect of running the business that you cannot ignore. As with any other businesses, your online business’s success or failure is largely dependent on your understanding of e-commerce accounting.
Having the fundamental knowledge enables you to properly manage your business finances and stay operational. E-commerce accounting also allows you to scrutinise and evaluate the financial health of your business by delving into the important figures such as costs, earnings, liabilities and more.
Unsure of how to get started, or confused by how e-commerce accounting differs from other types of accounting? Fret not, read on to dive deeper and learn about everything you need to know about e-commerce accounting.
Difference Between E-Commerce Accounting vs Bookkeeping
While accounting and bookkeeping may sound like synonymous terms, these two functions are not interchangeable.
Bookkeeping is the baseline accounting practice of recording the day-to-work details, transactions and financial documents. This process helps you to describe and organise the state of your business finances.
On the other hand, accounting involves in-depth analysis of all your financial records provided by the bookkeeper. This information is used to produce financial reports, models and forecasts to allow you to better understand your finances and plan for your business’s future growth.
For e-commerce accounting, there are two methods which you could consider.