The volatile economy is causing many consumers to be more mindful of their wallets. Will they have a job in 6 months? How high will credit card interest rates rise? These are the discussions millions are having around their kitchen tables. In fact, the August 7^th Bloomberg Consumer Comfort Index showed that consumer confidence dropped to its second-lowest point of the year.

Digital merchants who want to succeed in these uncertain times need to take action.

One of the simplest paths to easing consumers’ concerns and making their decision to spend money on your ecommerce store easier is by offering alternative payment methods (APMs), like phone billing. This payment alternative works by allowing consumers to purchase digital goods and services, like downloads or Internet services, by charging the purchase to their phone bill.

Phone billing saves consumers money.

Shoppers spent less on credit cards during July 2011, according to a First Data report. As credit card companies increase interest rates and impose steeper penalties on late payments, plastic is becoming a less attractive way to pay for ecommerce products.

Digital merchants who add a phone billing option to their shopping cart give consumers a no-additional-cost way to complete the transaction. Shoppers aren’t forced to pay interest or fees to banks in order to get the goods and services they want. It’s a win for the customer; and that means it’s a win for you, too.

To start integrating consumer-friendly phone billing into your ecommerce store, contact ILD Teleservices, a leader in the third party payment processing industry. Our Bill to Phone alternative payment method offers timely settlements, increased customer satisfaction, and an easy-to-integrate interface. Learn more today.