By Harrace (Hong Kong)

“Do you think a lot of people buy online?” This is one of the questions I asked during our Internet marketing seminars in Hong Kong, Singapore, Malaysia, and other parts of Asia. In each place, invariably, I got two different types of responses, one group nodded their heads and the other group would say no. Those who said no almost certainly never bought online before because of security concern.

This concern doesn’t just happen in Asia. Nearly $1.9 billion lost in e-commerce sales in 2006 due to the security concerns of the US adults, according to Gartner.

According to the Gartner survey done in August 2006, $913 million in e-commerce sales is lost because of security concerns among online shoppers and another $1 billion is lost because of shoppers who refuse to shop online because of security concerns.

eOneNet has been receiving a lot of eCommerce sales, many transactions were a few thousand US$ each. So how did eOneNet reduce loss of eCommece sales? Here are some tips:

#1: eOneNet has built a credible website, which consists of hundreds of pages of contents with professional design, impressive company profile, press room and media video complete with over one hundred media coverages, both print and regional TV, including Bloomberg, CNBC.

#2: We are using secured payment system with our own eCommerce merchant account from Maybank, the largest bank in Malaysia (not a third party online payment account) since 2000. Getting your own merchant account is subject to stringent requirments, including background check of your company, minimum eCommerce transactions of RM50,000 to RM100,000 per month, and fixed deposits for some banks. In Hong Kong, one of the banks required a fixed deposit for HK$300,000. So getting your own eCommerce account is not easy, and shows your company is credible.

#3: Our impressive list of customers using our eCommerce payment solutions, including government ministries and universities.

#4: We offer special incentives to encourage customers to pay online, e.g. online payment fee for our seminar is HK$200, Bank-in is HK$230. As a result, more than 70% of the participants paid online.

In the past, after a customer submitted online payment info, we would check the order info first before we manually processed the credit card info online. This is to reduce fraudulent transactions. However, some customers may still have security concern. To further tackle this problem and eliminate their fears, we have migrated to a new eCommerce payment system this month, verified by VISA/MasterCard.

Unlike the previous system, the online payment will be done by the customer real-time, and once the credit card details are entered, they may be prompted to another secured page of the credit card company, requiring them to enter some personal info in order to verify the real card holder is using the card. So this will prevent someone using another person’s card to pay online. This is much more secured than the previous system and hopefully, this would almost eliminate online payment fraud.

If you have been making payment online in our website since last week, you would have experienced this new system already. Don’t hesitate to leave any comments if you have used this system. It may be more hassle to enter more info, but I think this is worth it to make sure online payment is secure and verified.

Just a gentle reminder: If there is a promo code field in a registration form or order form in our site, you would need to enter the correct code in order to get any discounted price. Otherwise, the normal price will apply. For any questions, please call our respective offices.

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