Offering a payment option that enables online and telephone shoppers to pay for purchases using their personal online banking system has increased sales and decreased costs for one electronics retailer.
After implementing the eBillme service from electronic payments vendor ModaSolutions in May, pcRush.com realized a 40% increase in average order value over orders paid for using credit cards and a 60% reduction in transaction costs due to transaction fees lower than those for credit card payments, the retailer reports.
It took pcRush.com 37 days to implement the personal online banking payment option into its online checkout platform. To use the option, online shoppers select eBillme at checkout while customers paying by phone request eBillme when completing their orders. An electronic invoice is e-mailed to customers confirming purchases and providing instructions on how to pay the bill through online banking. Consumers then log in to their banks` web sites and pay the invoice through a checking or savings account. Consequently, no financial data is sent to any entity other than a consumer’s bank, and the payment transaction is securely transferred from the customer’s bank to the retailer’s bank. PcRush.com is No. 241 in the Internet Retailer Top 500 Guide.
“Adding eBillme to our checkout payment platform furthers our customer commitment by offering shoppers a safe and convenient new way to shop online and in our call centers,” says Mark Crary, director of marketing at pcRush.com. “It has allowed us to reach new customers and increase revenue by offering an option that appeals to consumers without a credit card, those who are security conscious and those who use online banking to pay bills.”
As an introductory offer, pcRush.com is offering customers who pay with eBillme a free 1GB USB device through July 31.