SVP, Corporate Communications
Ecommerce Merchants Using NetSuite Now Enjoy Access to Fast and Secure Online Payment Option, Expanding Markets and Decreasing Abandonment
New Feature Provides Instant Payment Option for Buyers in 140 Countries
SAN MATEO, Calif.—June 25, 2009—NetSuite Inc. (NYSE: N), a leading vendor of on-demand, integrated business management software suites for mid-market enterprises and divisions of large companies, today announced the availability of Google Checkout™ for online merchants currently running their operations on the NetSuite Ecommerce platform. The new feature provides a seamless interface between the NetSuite shopping cart and the Google Checkout online payment service. NetSuite's integration of Google Checkout delivers an all-in-one payment platform for Ecommerce businesses that can reduce shopping cart abandonment and increase sales. For more information about NetSuite's Google Checkout integration, please visit www.netsuite.com/googlecheckout.
"We're pleased to be working with NetSuite to provide merchants, and ultimately buyers, with more choice in their payment options," said Dan Rubinstein, Director of Product Management at Google. "Google Checkout helps merchants increase their sales by driving more traffic, increasing conversions, and enabling buyers to shop quickly and easily with one login at stores across the web."
"We are excited to work together with Google to deliver on our shared commitment to Ecommerce businesses," said Mini Peiris, VP of Product Marketing at NetSuite. "With Google Checkout, NetSuite provides online merchants with another payment solution that addresses the needs of their consumers and contributes to their business' bottom line."
NetSuite provides real-time visibility into key business operations in one system – from the online store, to inventory, fulfillment, shipping, marketing promotions and customer buying patterns for up-sell and cross-sell analysis. NetSuite already includes Google AdWords ä integration and now, Google Checkout integration, giving Ecommerce businesses a powerful platform for driving both their sales and marketing efforts to new heights.
Google Checkout is a growing international online payment network and many online shoppers have embraced this fast, secure checkout process. Online shoppers click on ads 10% more when the ad displays the Checkout badge. In today's economy, no seller can afford to turn away a customer who wishes to purchase goods from their site and has the means to pay. Adding Google Checkout ensures that merchants will not be losing business from shoppers for whom Google Checkout is their payment preference and allows these shoppers to make quick and confident transactions. NetSuite customers who have incorporated Google Checkout into their Ecommerce operations have already seen double-digit improvements in click-through and conversion rates over conventional payment methods.
Safe and Secure Payment Option for Shoppers
NetSuite Google Checkout Integration makes it easy for even casual shoppers to commit to a purchase as they only have to register for the service once, and can do so directly from the integrated Google Checkout screen. Google Checkout allows buyers to pay with credit, debit, or gift cards branded by the leading card issuers: Visa, MasterCard, American Express, and Discover. After the initial sign up, they can use the same username and password to sign in and pay for goods and services at all Google Checkout sites with their selected preferred payment type. Shoppers feel safe and secure knowing that their financial information is not shared with Ecommerce merchants, while gaining the flexibility to make quick transactions using the payment card of their choice.
Easy Setup for Ecommerce Merchants
It's easy for merchants using NetSuite to offer Google Checkout in their online stores. All they have to do is enable the feature and register a Google merchant account, which is accessible through the Google portal in NetSuite. Then, the Google Checkout button automatically displays next to the Proceed to Checkout button in their Shopping Cart, or on their Web site checkout landing page. When shoppers click the Google Checkout button, NetSuite directs them to Google Checkout, securely passing along the items in the shopping cart, shipping options, and tax information. After the shopper completes their transaction through Google Checkout, NetSuite is notified and a sales order is automatically created based on the detailed order information provided by Google.
Improved Online Presence for Ecommerce Merchants
Ecommerce businesses gain tremendous flexibility by adding Google Checkout to their slate of accepted payment options. If they advertise on Google AdWords they can elect to display a Google Checkout badge on every insertion, which can lead to greater click-through and conversion. The Google Checkout service is available to buyers in over 140 countries and offers automatic currency conversions at competitive rates. Google provides a range of seller protection tools to help minimize fraud and charge-backs, preserving merchant margins and integrity and reducing the risks of Ecommerce.
"It's very nice to give our customers another option during checkout, to increase the likelihood that they'll purchase from us," said Zach Barzee, Ecommerce Marketing Manager, SportsDiamond.com Inc., (www.sportsdiamond.com), an online retailer of sporting goods with two retail stores in St. Michael and Lakeville, MN. "We've been using NetSuite Ecommerce for three years. In the past month since we've had the Google Checkout option, we've had 50 to 60 purchases on it, which is about 2 percent of our total order volume. We feel that's pretty good, especially since we haven't advertised this anywhere. As it continues to grow, we expect our conversion rates to increase, which is exactly what we need to stay successful in this tough economy."
Pricing and Availability
The NetSuite Google Checkout Integration online payment option is included with NetSuite and carries no setup fees or monthly fees. Merchants pay a per-transaction fee to Google of 1.9 percent to 2.9 percent plus 30 cents per transaction, depending on monthly sales volume. NetSuite Google Checkout Integration is available now for US customers and will be available at the end of June 2009 for UK customers.
For more information about NetSuite, please visit www.netsuite.com.
NOTE: NetSuite and the NetSuite logo are registered service marks of NetSuite Inc.
Google, Google AdWords and Google Checkout are trademarks of Google Inc.