Online Payment Products (OPVs) are one of the fastest growing products in the Canadian market and demand from consumers is continuously on the rise (see source). Although many Canadians have a credit or debit card, not everyone is comfortable with using them online. That is why this emerging product category is growing in demand, providing customers with alternative ways to pay online. Having Online Payment Products available at your store offers a new revenue stream with repeat business opportunities.
For those unfamiliar with Online Payment Products, in its simplest terms, an Online Payment Voucher is a prepaid voucher that provides individuals with a PIN printed on a voucher that can be used to buy products and services online. Easily available, anonymous, secure, and cost-effective, allowing your customers to make purchases online, without the typical factors that come with using a credit card. Brands such as paysafecard, Neosurf, and ecoVoucher make for a great alternative to traditional payment methods.
Your customers can use these vouchers in a variety of different ways including; online gaming, online shopping, online payment services and more!
Approximately 80% of Canadians shop online and are buying more items, more often than ever before (see source). More and more people are choosing to make purchases online, after all we are living in a digital age. Consumer habits are changing drastically due to the ever growing eCommerce landscape (see source). Because of this, it is no surprise that many Canadians are choosing to make their online purchases through safe and secure alternative payments.
Selling these popular products in your store increases foot traffic and earns you commission on every transaction.