Which payment method do you make more $$$'s on..... CC's or Checks???
 

When considering all aspects of each payment method (recurring price, retention rate, processing fees, cb fees, credits issued, collections, etc) which one makes you the most money???

Inquiring minds want to know!

Most of the check purchases on my site bounce.

Yup. I had that same issue. I eliminated checks all together about 6-9 months ago.

So it's CC for me. Although I get some SMS and EU Direct DBt, but they are probably under 10%.

:2 cents:

24% of our checks are returned, but when we figure in rebills it drops to only 7%. Worth keeping for us.

From what I heard CCs are the most used

Our sales never dropped even when we eliminated the checks. So that was a good sign. Although we had maybe 10-15% of people using checks maybe?

I like to keep our refund, or chargebacks low. So whatever accomplishes that. A mentioned previously, anyone who does a chargeback/refund etc we make sure that they gets blacklisted by the processor.

:)

90% on CC...

You must be kidding...

Credit Cards/Debit Cards account for the VAST MAJORITY of the revenue.

credit cards, but when we added your online check processing years back, we noticed a nice amount of extra money coming in each month. so it's definitely worth having.

Yeah, CC's are at least 90% for us too. Checks and Phone are a nice bonus, but they wont get you rich.

How to get read of return checks?

Do ANY of you guys know how much you make PER CC SIGNUP ?
Now compare that with how much you make PER CHECK SIGNUP!

What's the hard part about this question??? :upsidedow

well per signup i make more with checks.
yay wts!

wts really does a good job going after people and putting them into collections and actually collecting money. :)

Just thinking out loud here and not trying to stir up shit...

But don't almost all (if not all) checking accounts come with a check/debit card that works exactly like a visa/mc?
If so, why do we need checks as a join option when those people can just use their debit cards?

Since check sign-ups are a big source of fraud why offer them at all?

I don't have a debit card and I have 3 checking accounts. Debit cards are great until fraud comes around and you don't know it until your monthly checks start bouncing.

Obviously there are a LOT of people using checks and not debit cards because I've heard that WTS company is doing OK :thumbsup

Not all do.

With some banks, you have to have a certain credit rating. Others you have to wait a grace period before you get your MC/VISA. You may get your debit card, but not necessarily the VISA/MC part of it.

:2 cents: