The days when making a payment represented the end of a transaction could be well and truly over, according to the acting managing director of PayPal Australia.
Speaking earlier this month about the country's changing retail space, Elena Wise asserted that retailers – particularly those who take payments online – are perfectly positioned to use these transactions to begin an ongoing relationship with their customers.
She said: "Payments no longer signal the end of a transaction, and if retailers use their data intelligently, they can connect with customers in new ways to drive demand and build loyalty."
Wise added that this process can be approached in a number of different ways – either by presenting online customers with relevant product information while they are browsing a retail site, or by utilising knowledge of a customer's purchase history to their advantage.
All retailers – regardless of size, are required to comply with PCI DSS standards. These international requirements can vary depending on the size of your company – and may be particularly relevant to Australians who shop online with overseas merchants.
PayPal figures from January indicate that with the Australian dollar at a historic high against the British pound, UK retailers such as TopShop, ASOS and Book Depository are particularly popular among an Aussie clientele.
PayPal advises Australian customers shopping online from international retailers to also take matters into their own hands when it comes to protecting their digital footprint – ensuring their personal data remains secure.