Business Thread.... Paysite Owners,What % of sales do online checks account for?
 

Hi Guys. It's a pretty straight forward question. I've been looking thru our stats and in 2005 our Online Checks have accounted for 3.5% of all sales. That seems low. I know in the past it was close to 10%.

What % of your sales do online checks account for?

2.9% here for this year, I have WTS on email varify, which slows it down a little.

My numbers are about the same 4-5%.

Hey shap what about 1900 numbers? I've been thinking about putting that as one of the option for payments with ccbill but haven't seem to get around to it yet, just curious if you have any luck with it.

48% to ccbill
41% to epoch
7% to EuroBill
2.9% WTS Checks
2.8% Web900
1.9% My Virtual Card

I used rounded off numbers, so it adds up to a little over 100%.

Interesting Numbers Doc. Here are ours (Web900 included RiceMaster)

Ccbill CC 87.5%
Paycom CC 8.4%
Ccbill Check 2.9%
GxBill Modem Access 0.7%
Gxbill Web900 0.4%

Ok here's a question:

Should we factor in checks that get RETURNED? Or take those out of the % ?

If i take RETURNED checks out, the percentage becomes a decimal for us almost :1orglaugh

I factored in returned checks. My numbers are the net revenues for each source from the past 6 months.

3 to 4% this year.

if 3-5% is all, i wont be bothering with implementing online checks as an pay option

0%, because I dropped them, they suck...

As a processor, our check processing accounts for about 4% of total merchant revenue for both mainstream and adult merchants combined.

Of course, our merchants conrol the scrubbing for credit cards and checks so results vary between merchants and business type.

Contact us if you are interested in saving some $$$ with your check and credit card processing.

Mitch

I got some check signups this year, they work out pretty good

Depending on your volume, that could be alot of money you are disregarding.

Mitch

interesting figures here... hehe... ;)

I didn't, and I can presume that I still get a 1 - 1.5% out of that number back with their credit card .... ( some are scared to use their cc on line... ).

About 4%

What about 1-2-3bill? Anyone uses that as an option?

Hi Mitch,

well, since you're my processor you prolly know what my volume is, lol
and yes i'm leaving some money on the table.

TBH, another concern i have is reconciling the orders as the checks clear, since we sell tangibles, we'd have to watch the bank account- note each check as it clears and which order it is for then fill that order - too much manual input for us at this time to justify ~4% increase in sales.

Or am I not seeing this right??

Love Netbilling by the way :thumbsup

somebody knows the way how to say surfers don't use a checks and pay by CC?

checks are only 2% of my program's net sales

Checks are 4% for us.

I got some, too, but 30-40% of them were fraud + the ppl who used the check option didnt sign-up with their cc then, so my sales almost didnt go up. Everybody who doesnt have a cc in the USA and wants to pay by check is suspicious for me... :)

Hi,

Thanks for your business and the kind words avbout us. With our syswtem, you can autoimate checking our system with your shopping cart to check when an ACH payment actually clears and then ship the products. Contact us on Monday to discuss the options further if you are interested.

Mitch

Guys with check issues, WTS has a feature, which makes the member email confirm before the transaction is finalized. This really cut down on the surfer fraud, which was a majority of the returned checks.

Thanks Mitch, I'll call in and get more info, I did not realize it was automated to that degree.