From Russia with love: JewelrySprite targets foreign markets with e-cash
With more than 4,500 jewelry items for sale, JewelrySprite.com says it has no trouble attracting customers in both the U.S. and abroad. But offering an effective online payment system to all of its customers is another matter--particularly to shoppers from foreign countries who have difficulty using credit cards or getting money orders, JewelrySprite director of marketing Rey Tamayo tells InternetRetailer.com.
"One of the areas we have growth opportunity is in Russia, but getting Russians` credit cards authorized is hard," Tamayo says.
To better accommodate purchasing by Russians as well as other foreign and domestic customers for whom credit cards and money orders may be not be the payment method of choice, JewelrySprite is offering customers the option of paying through the Pay Cash System from Cyphermint Inc. The system enables consumers to make online payments by deducting funds from a networked, prepaid account.
Tamayo says the Pay Cash payment method should also assist purchases made at auctions, which JewelrySprite conducts on sites such as Yahoo.com.
Consumers can add value to the Pay Cash System by mailing checks or money orders to Cyphermint or setting up direct deposits from their checking accounts. They can also load value with credit cards at Cyphermint.com, but Cyphermint advises against the use of credit cards because it only accepts cash advance transfers, which typically charge higher interest rates than credit card purchase transactions, says Ken Stempler, vice president of sales and marketing for Cyphermint.
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