Are you trying to decide if alternative payment methods (APMs) are right for your ecommerce business? Well, you’re on the right track. Alternatives to traditional credit card transactions are becoming a go-to way for digital merchants to boost revenue, expand markets, and reduce fraud exposure. Check out these ecommerce payment stats and facts:
Consumers Need Payment Alternatives for Digital Content.
Credit Cards Cost Consumers.
Fraud Costs Consumers.
Fraud Costs Ecommerce Merchants.
It’s time to add alternative payment methods to your digital shopping cart. To learn more about what APMs will do for you, contact ILD Teleservices, an industry leader in LEC (or phone) billing, which allows customers to easily and safely charge purchases to their phone bill.
From Osama Bin Laden phishing scams to PlayStation Network’s hack, consumers have become increasingly aware of the risk of providing sensitive information, such as credit card numbers, online. But you don’t have to say “good-bye” to wary customers when you offer easier and safer alternative payment methods.
The risk of identity theft discourages risk-averse consumers from ecommerce shopping.
A 2010 study by the Identity Theft Resource Center found:
Digital merchants who rely solely on traditional payment methods, like credit cards, or alternative payment methods (APMs) that request bank account info, like some PayPal transactions, could be sending business to competitors who offer less risky checkout choices.
The right alternative payment method gives customers the peace of mind to shop safely.
Not all APMs are created equally. For example, some platforms allow customers to shop without a credit card, but they must share their bank account information instead—and, not surprisingly, some view that as an even riskier method of ecommerce shopping.
If you want to expand your digital store’s market to welcome risk-averse consumers, then it’s time to consider adding an alternative payment method like LEC billing. This simple checkout alternative allows customers to charge their purchase to their phone bill.
For more information about expanding your digital market to reach risk-averse consumers, contact the ILD Teleservices team about Bill to Phone. Our LEC billing will provide an online shopping experience that creates less risk for your customer and more revenue for you.
The chargeback is a financial liability that commonly stings ecommerce merchants. When a credit card holder disputes the validity of a sale, it can be the result of anything from processing errors and authorization issues to fraud attempts and data entry mistakes. But how much are chargebacks really dinging an ecommerce merchant’s bottom line?
If the card payment processor rules a chargeback is valid, the merchant is left holding the bill. Here’s what digital merchants lose:
One way to avoid ecommerce chargebacks is to provide customers with alternative payment options, such as LEC billing. This checkout option, which allows consumers to charge their purchase directly to their phone bill, provides a credit card free way to shop.
But the right alternative payment processor will also offer validation services that quickly and affordably verify the customer’s identity, reducing your exposure to bad transactions.
For more information about ILD Teleservices’ LEC billing option, Bill to Phone, contact one of our account reps. As an industry leader in third-party payment processing, we’ll provide a ready-to-go checkout option that takes away some of that chargeback sting.
Anniversary Showcases Business Evolution Reinforced By Groundbreaking Digital and Social Media Solutions.
ILD Corp., a global leader in digital back office solutions is proud to announce that today is the company’s 15 year anniversary. Originally a call center for telephony services, ILD has grown into one of the largest digital back-office support providers in the United States. Best known by the company’s brands, RollCall Business Conferencing Solutions (conferencing and webcasting services), ILD Teleservices (bill to phone payments), ILD Call Center and Social Strategy1 (social web services), ILD Corp. continues to serve over a thousand national and global enterprises.
“Reaching this milestone is a true testament to our employees and our partners. Over the years, hundreds of individuals have worked together to make ILD what we are today, and we’ve very proud of the achievements that have taken place since we founded the Company,” said Mike Lewis, Chairman and CEO. “It’s an important time to pause and acknowledge the accomplishments of the past, but even more importantly it is a time to focus on continually improving our operations and developing new and innovative services to ensure a long and bright future for each of our business units. In this technology savvy world, we continue to evolve our businesses and service offerings with the needs of the digital age.”
President and Chief Operating Officer Dennis Stoutenburgh added, “We’ve introduced new innovative services to our product portfolio, which are all on a strong growth path. We’ve made a commitment to provide the latest technology, the most experienced people, and with this, our customer service levels are higher than ever! Investing in technology has streamlined our processes and made us quicker, more efficient and more competent in offering the technical expertise and insights that our customers have come to expect from us.”
ILD is part of the INC 5000 list and has also been named one of the Best Companies to Work for by Florida Trend Magazine.
Your customers have the need. You have the product. Traditionally, credit cards have been the way ecommerce merchants and customers have completed that transaction. But between rising credit card interest rates and the fear of identity theft, consumers may not be as comfortable breaking out the plastic to subscribe to a service or download digital content; that’s why merchants who want to lift revenue and expand their market add alternative payment options to their checkout.
When it’s time to invest in a third-party payment processor, ask the company these four questions:
If it’s time to look for an alternative payment method, such as LEC billing, contact ILD Teleservices. Our team delivers the payment processing tools you need and the service you deserve. Learn more today.