October 31, 2005, 12:00 AM

Credit cards dominate

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Of the companies that are -offering more types of -payment, including PayPal, the online payments -program that began as a mechanism for buyers and sellers on eBay to settle transactions and is now accepted as a new form of alternative payment by web merchants such as TigerDirect Inc., the Internet Retailer survey found that e-checks and alternative payments are helping to generate and close more sales. For instance, of the web retailers responding to the question "Is there evidence that accepting alternative payments has increased sales?," and who accept alternative payments, 42.2% responded "yes" compared with 28.1% responding "no" and 29.7% with "don`t know."

Clearly, as demonstrated by the answers supplied by web -merchants to Internet Retailer`s latest survey, alternative payments won`t -supersede credit cards any time soon as the industry`s main payments program. But the results do show that web retailers are open to trying new forms of payment. Cash, deferred -billing, e-checks and PayPal in time will drive more new and repeat sales by giving online shoppers new and -different options to pay for -merchandise.

mark@verticalwebmedia.com

Click Here for the Guide to Payments Processing Products & Services

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