Are you leaving money on the table??? : BUISNESS THREAD - GoFuckYourself.com

Ben.Z · 02-07-2006, 10:45 AM

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 · 02-07-2006, 10:51 AM

I just wanted to bump an actual business thread

RayBonga · 02-07-2006, 10:52 AM

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 · 02-07-2006, 10:55 AM

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

Deej · 02-07-2006, 10:59 AM

Quote:

Originally Posted by woj

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 · 02-07-2006, 11:00 AM

i've been trying to do this.

andrej_NDC · 02-07-2006, 11:08 AM

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 · 02-07-2006, 11:18 AM

Quote:

Originally Posted by A1R3K

i've been trying to do this.

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

Quote:

Originally Posted by 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?

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.

Quote:

Originally Posted by woj

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 · 02-07-2006, 11:35 AM

look forward tro it being added to ps5

Fetish · 02-07-2006, 11:42 AM

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 · 02-07-2006, 11:43 AM

Quote:

Originally Posted by fraggle

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 · 02-07-2006, 11:48 AM

I have heard good things about WTS as well

Quagmire · 02-07-2006, 11:51 AM

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 · 02-07-2006, 11:51 AM

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

Manowar · 02-07-2006, 11:57 AM

Quote:

Originally Posted by WTS - Ben

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 · 02-07-2006, 01:04 PM

Quote:

Originally Posted by WTS - Ben

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 · 02-07-2006, 01:13 PM

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 · 02-07-2006, 01:54 PM

Quote:

Originally Posted by 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.

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

Quote:

Originally Posted by Manowar

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.

Quote:

Originally Posted by $tandaman

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 · 02-07-2006, 01:57 PM

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 · 02-07-2006, 04:27 PM

Quote:

Originally Posted by pimpporn

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.

02-07-2006, 10:45 AM	#1
Ben.Z Confirmed User Industry Role: Join Date: Sep 2004 Location: CardReady.com Posts: 1,164	Are you leaving money on the table??? : BUISNESS THREAD 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. __________________ *Credit Card Processing for Adult Merchants* Contact me: Ben Z. (ben\|AT\|CardReady.com) ICQ_138827832 Toll Free: 1.888.398.6001 Ext.212

02-07-2006, 10:51 AM	#2
shuki Confirmed User Join Date: Aug 2004 Location: Boston Posts: 3,070	I just wanted to bump an actual business thread __________________ Looking to buy established paysites contact me [email protected]

02-07-2006, 10:55 AM	#4
woj <&(©¿©)&> Industry Role: Join Date: Jul 2002 Location: Chicago Posts: 47,882	Isn't fraud/chargeback rate MUCH higher for check transactions compared to credit cards? __________________ Custom Software Development, email: woj#at#wojfun#.#com to discuss details or skype: wojl2000 or gchat: wojfun or telegram: wojl2000 Affiliate program tools: Hosted Galleries Manager Banner Manager Video Manager Wordpress Affiliate Plugin Pic/Movie of the Day Fansign Generator Zip Manager

02-07-2006, 11:35 AM	#9
fraggle Confirmed User Join Date: Jan 2003 Posts: 932	look forward tro it being added to ps5 __________________ Marketing - Design - Development - Ecommerce High Quality, Very Experienced & Flexible Team, Great Rates www.ammediainc.com

02-07-2006, 11:51 AM	#13
Quagmire Confirmed User Join Date: Jul 2005 Location: Stinkin' up your bathroom Posts: 6,490	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. __________________

02-07-2006, 10:52 AM	#3
RayBonga too cool for highschool Join Date: Nov 2005 Location: East side, West side, Worldwide! Posts: 12,164	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?

02-07-2006, 11:00 AM	#6
seeric .......... Industry Role: Join Date: Aug 2004 Location: .......... Posts: 41,917	i've been trying to do this.

02-07-2006, 11:08 AM	#7
andrej_NDC Registered User Industry Role: Join Date: May 2004 Posts: 7,760	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.

02-07-2006, 11:42 AM	#10
Fetish Confirmed User Join Date: Mar 2005 Posts: 823	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.

02-07-2006, 11:48 AM	#12
Fetish Confirmed User Join Date: Mar 2005 Posts: 823	I have heard good things about WTS as well

02-07-2006, 11:51 AM	#14
sfera Confirmed User Join Date: Aug 2005 Location: ICQ: 248877409 Posts: 8,597	well if you have a chacking account dont u get a visa debit card?

02-07-2006, 01:13 PM	#17
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	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. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

02-07-2006, 01:57 PM	#19
xNetworx So Fucking What Industry Role: Join Date: Jan 2004 Location: Whore Island Posts: 14,445	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