Bill to phone – Is your ecommerce strategy missing this revenue booster?

Are you doing everything you can to generate revenue through ecommerce? Well, if you’re not offering bill to phone payment processing, then perhaps you’re missing out. It’s time to learn more about how this increasingly popular payment method can boost revenue.

In a bill to phone transaction, the customer submits their telephone account information as their payment method—much like they would enter credit card information. After the info is authenticated, the billed amount is added to the customer’s monthly phone bill. The customer simply pays the amount in full at the same time they pay for their phone charges. The payment is then remitted to the merchant. For a full explanation of the process, check out this ILD Teleservices blog entry.

Why should you offer this payment option? Here are just two advantages of bill to phone payment processing:

• You gain instant access to unreachable customers – Maybe your ideal customer is part of the senior set that shuns the use of credit cards. Perhaps some of your clients don’t have bank accounts. Engaging in ecommerce with these customers can be virtually impossible. In fact, in some cases you might find yourself consigned to doing business old-school style, complete with illegible handwritten order forms and personal checks or money orders.

By offering this payment solution you instantly gain access to groups that were previously inaccessible—after all, bill to phone services are available to more than 90% of the U.S. More customers. More revenue. What’s not to love?

• You provide customers with peace of mind – There’s no doubt your clients are worried about identity theft and credit card fraud. In fact, the 2010 Unisys Security Index found that 62% of Americans are seriously concerned about credit card fraud. (To put that number into perspective, the same survey found that a virtually identical number, 65%, of Americans are seriously concerned about national security.)What’s more, they found that the fear of credit card fraud is at its highest level in three years.

A bill to phone solution provides an alternative that alleviates this very real fear among consumers. Because they’re not required to share credit card information, the risk of fraud and indentify theft is lowered. This makes bill to phone an excellent way to reduce customers’ vulnerability.  When consumers are more confident in the safety of the transaction, they may be more likely to initiate and/or continue their relationship with you.

To learn more about how bill to phone processing can build your company’s bottom line, contact the team at ILD .