Are you leaving money on the table??? : BUISNESS THREAD

[Ben.Z]

Let?s talk about billing options for a minute. After all, THIS IS our bottom line, right? It always amazes me how many paysite owners don't offer online ACH (checks) as a payment option. Without multiple payment options for your surfers, your not capitalizing on every potential sale.

Think about it for a second. There are millions of Americans who either don't have credit cards, can?t get one, or will not use them on the internet. If your not offering them other payment options, you?re missing out on entirely different revenue streams!

WTS has been processing transactions for majority of the largest programs on the Adult?Net since 1997. Do you really think the ?big-boy?s of adult" would take ACH if they weren?t making more money by doing so? I?d like to clear up any myths that give paysite owners reservations about accepting online checks as a payment option.

So I?ll ask? do you offer checks? If not, please post your reasoning.

[shuki]

I just wanted to bump an actual business thread

[RayBonga]

You raise a valid point but I guess it would depend of the program, for some the costs in time and money of implementing ACH are just not worth it.

If you get 1 or 2% of your sales this way is it worth the extra effort?

[woj]

Isn't fraud/chargeback rate MUCH higher for check transactions compared to credit cards?

[Deej]

Isn't fraud/chargeback rate MUCH higher for check transactions compared to credit cards?

Thats the reason

We used to in phone sex, but they had the highest chargeback ratio in payment methods

[seeric]

i've been trying to do this.

[andrej_NDC]

I used checks. My revenue was down. Check sales meant less cc sales and with the amount of check fraud, its just not worth the hassle.

Honestly, I don't believe there are people in the US who have money but dont have a cc.

[Ben.Z]

i've been trying to do this.

WTS / PartnerSoft integration is almost complete. Once we wrap things up you'll be good to go!

You raise a valid point but I guess it would depend of the program, for some the costs in time and money of implementing ACH are just not worth it.

If you get 1 or 2% of your sales this way is it worth the extra effort?

Hi Ray, thanks for your reply.

Your right, it may not be worth 1 or 2%, however, the actual number is upwards of 25%-35% in additional revenues on your existing traffic when processing through WTS. Additionally, there are no setup fee's, and implementation can be done within 24hours.

Isn't fraud/chargeback rate MUCH higher for check transactions compared to credit cards?

Although you can never stop ALL of the fraud associated with check signups, WTS does the best job of limiting those cases. It is the nature of the business. I can tell you that you'll make a lot more in revenues by offering checks, than not offering them!

Another thing to add is that check signups tend to recur alot longer than credit card signups so that helps make up for the amount of checks that don't clear. We also have an in-house collections dep't that goes after those bad check writers. Adding an additional 30% in collections to your bottom line.

[fraggle]

look forward tro it being added to ps5

[Fetish]

We do fairly well with checks but there are much more returns than credit cards. We use Netbilling and have a pretty low rate with them. I do recommend have ACH processing for sure.

[Fetish]

look forward tro it being added to ps5

I think Netbilling checks are already added to PS5 from what Bryan over there told my tech guy.

[Fetish]

I have heard good things about WTS as well

[Quagmire]

Painfully high fraud rate, at least from my experience in gaming. I don't even like to hear someone mention ACH, it makes me think of loss instead of profit.

[sfera]

well if you have a chacking account dont u get a visa debit card?

[Manowar]

I can tell you that you'll make a lot more in revenues by offering checks, than not offering them!

A successful paysite owner said he didn't earlier in the thread.

[$tandaman]

Another thing to add is that check signups tend to recur alot longer than credit card signups so that helps make up for the amount of checks that don't clear. We also have an in-house collections dep't that goes after those bad check writers. Adding an additional 30% in collections to your bottom line.

I have to give props to WTS where it's due. I am getting check recurrings from 3-4 years back!

Another big reason, check accounts do NOT expire unlike credit cards, which will easily make up for the higher possible returns/nsf's from your check processing.

[pornguy]

We took them for a long time. But they were not worth the issues. And now days with check cards, most people that are using checks seems to be using stolen checks, or bad accounts.

[Ben.Z]

Painfully high fraud rate, at least from my experience in gaming. I don't even like to hear someone mention ACH, it makes me think of loss instead of profit.

Unfortunatly I can't comment on your situation as we don't accept gaming transactions, nor have history with this type of business.

A successful paysite owner said he didn't earlier in the thread.

Exactly why I started this thread. It amazes me how many programs still don't accept checks on their paysites. Chalk it up to a bad taste from past experiences with other processors. Just because one company doesn't work for you, doesn't mean you should completely remove the option. Take a look at the program in your signature. None of the "whales" have stopped taking checks, you should think about why that's the case.

I have to give props to WTS where it's due. I am getting check recurrings from 3-4 years back!

Another big reason, check accounts do NOT expire unlike credit cards, which will easily make up for the higher possible returns/nsf's from your check processing.

Good stuff $tandaman, I love to hear things like this. Thanks for the reply.

[xNetworx]

We just got dialed in with WTS and have been pleased so far. I like the fact that it rebills their bank account. I would think less people nit pick their bank statement as closely as credit card statement. Hence, rebill time

[Ben.Z]

We just got dialed in with WTS and have been pleased so far. I like the fact that it rebills their bank account. I would think less people nit pick their bank statement as closely as credit card statement. Hence, rebill time

... and we're happy to have you on with us!
As for the rebills, your logic is right on track.