2000 Charge Presents Its Business Case For Why You Need Alternative Payment Methods On Your Website.
- 1.Alternative Payment Solutions Business Case 2013
2. Business Case2000Charge delivers a complete spectrum of alternative and traditional payment solutions to maximize your sales and minimize your risk.Solutions 2000Charge has provided web-based merchants with alternative payment solutions and traditional payment card processing for more than a decade. We are the primary payment provider for tens of thousands of websites worldwide. Our payment services are developed in-house and provide a simple and easy to use solution for online merchants to accept payments worldwide in a variety of methods.American Express and Discover, and we provide traditional Visa and MasterCard credit and debit card processing for merchants that have their own merchant account. Shop Globally, Pay Locally Our solutions are designed to address a global market place, regardless of where the merchant may be located, but offers consumers worldwide with a variety of local payment options that they are familiar with.Alternatives Alternative solutions means those payment methods that are an alternative to credit and debit card payments, which provides merchants with additional options to accept payments online from consumers that do not have or wish to use payment cards. Bank driven payment methods, such as Automated Clearing House (ACH), EuroDebit or DirectPay are popular alternative payment examples.Gateway Our certied gateway connects to all major bank gateways worldwide, which allows us to process payments in a variety of currencies and methods. The combination of alternative payments and traditional credit card processing through one single gateway provides merchants with a simplied process and a total solution for all their transactions worldwide.Traditional 2000Charge also provides merchants with payment processing solutions to accept charge cards, such as JCB,Safe and Secure 2000Charge is fully compliant and a PCI level 1 certied processor. To mitigate risk, we employ the latest2013 - 2000Charge, Inc. All Rights Reserved.fraud scrubbing technologies and perform various functions for our merchants, such as IP and address verication, velocity and negative database checks. Some of our services completely eliminate the risk of charge backs and guarantees merchants their funds. One Button, All Payment Options Our simple but extremely effective one-button approach guarantees success for our merchants because it makes the payment process at checkout for consumers uncomplicated and effortless. Advantages Each service we develop has its own unique features, but all of our solutions offer compatibility with existing payment platforms, multi-language and currency support, enhanced security and unlimited customer support. Each merchant has access to an array of reporting and admin functionalities to manage all their payments from anywhere in the world. We do not use or sell third party provider services, we are the provider.Page 2 3. Numbers dont lie! The Internet Today Internet Users in the World - 2012 Currently North America has the largest Internet penetration rate per 825.1 Asia population (77.4%) versus Europe 475.1 Europe (58.4%). However, Europe has over 800 million people versus 340 million 266.2 North America people in North America, thus the growth potential for new users in 204.7 Latin America/Caribbean Europe is signicant. This is further 110.9 Africa demonstrated by the 352% increase in Millions of Users user growth in Europe from 2000 to 63.2 Middle East 2010 versus 146% user growth in 21.3 Oceania/Australia North America, which clearly shows that the European market is a growing 225 450 675 900 and important target for all online merchants. sector and the increased number of had the third largest percentage competitive landscapes that lowers growth of users (1,032%) from 2000 to Internet Users - 2012 the cost of access to the Internet for 2012. North America all Asian users. 13.5% The European, Latin American and Both Asia and Europe each Asian markets represent a major individually have a larger share of opportunity and web-based users than North America and a merchants, located in the USA or combined market of over 1.3 billion anywhere in world, must tap into these Internet users, which represents new and burgeoning segments. Given 66.2% of the online market place. that the majority of these Internet Rest of the World users do not have or or use credit 86.5% The Latin American and Caribbean cards, it is imperative that merchants market segments have a combined offer alternative payment solutions to 34.5% Internet usage penetration, but complement their time and efforts. Growth Areas Europe has almost one quarter of the online market with over 475 million Internet Penetration Per Population - 2012 users, however Asia has the largest segment with more than 825 million 77.4% North America Internet users, which makes up 42% of the users worldwide. Asia only has 58.4% Europe a 21.5% Internet penetration rate, but with the largest number of users, 28.7% World Average Internet user growth from 2000 to 2012 was still a remarkable 621.8%. 24.9% This number will continue to grow Rest of the World spurred on by the infrastructure expansion in the telecommunications 21.5% Asia 2013 - 2000Charge, Inc. All Rights Reserved.Business Case - Page 3 4. Why Use Alternatives? Of the 64% of online Europeans that do own a credit card, more than half will not use their card to buy online! (Forrester Research) The Great Divide Credit cards are the most popular method of payment in the United States. However, this is not the case in the rest of the world and alternative payment solutions have established themselves in a variety of ways to further monetize a merchants website. From local postal derived payment systems to sophisticated bank programs, most countries have their own domestic online payment and clearing system that consumers are using daily to make online payments.It is important for merchants to understand that credit cards are not the primary payment method in the world.While perceptions about money and credit may cause some cultures to spend differently, economic realities also play a key role. Some countries just haven't had the access to credit, nor a sizable middle class to fuel its use and as such non-credit card payment schemes have ourished.A study by CyberSource Corp. found that websites providing four or more payment methods other than credit cards had a sales conversion rate 12 percent higher than those offering just one online payment option in addition to credit cards.important role, but are not the only reasons; what if you cant read the payment page and you dont know how much youre paying because the amount displayed is not in your local currency? Furthermore, what if your preferred and trusted payment method is not offered? Not everybody has a credit card, so payment processors in numerous countries have recognized the need to offer domestic payment solutions to their consumers and have developed alternative solutions to satisfy the demand.In other cases, security and local requirements combined with the advancement of technology are the driver to implement alternative payment methods. For example, all debit cards issued in China, Japan, Cultural differences also fosters Korea and many other Asian Pacic different payment habits. In Germany countries do not work on the for example, with over 65 million traditional credit card networks. To internet users and a 61.2% enhance security the local banks penetration, only 32% of the In other words, the require a 4 or 6-digit PIN before consumers use credit cards to make more online payment authorization can be provided. In other purchases online versus 61% that use options you offer, the words, they cant use their debit cards a direct debit bank driven payment more online payment to make online purchases at websites method. that do not have the solution. As with processing you'll do on several of the alternative payment Differing perceptions on credit cards your site and the more solutions we offer, the PIN requirement can also be seen in online shopping money you'll make! is a huge benet to the merchant, as it habits. While credit cards today are eliminates the charge back risk and the main tool used in the United States guarantees the payment, which is for online shopping, the British and Motive extremely comforting to merchants French prefer debit cards, while Millions of online shoppers abandon that ship high ticket items or for those Germans rely primarily on online bank their shopping cart everyday. Trust and who wish to attract clients from all transfers, according to Forrester unfamiliarity with the merchant play an over the world without running a risk. Research. 2013 - 2000Charge, Inc. All Rights Reserved.Business Case - Page 4 5. More Options, Means More Sales Why would you decrease your sales potential by limiting the ways potential customers can pay for your products or services online?Our MarketServiceLanguages Improves SalesOur customers are online merchants from all geographic locations in all categories and sizes. The merchant underwriting process for alternative solutions is different from typical credit card merchant accounts, because the risks associated with many alternative solutions is minimized due to the lack of chargebacks and payment reversal options for consumers.We are a dedicated team of people that understand the business and we have proven this to our customers for more than decade. We strive to get our merchants up and running in 48 hours or less and we provide customer support 24/7 to our merchants and their clients.As part of our service offering, all of our payment pages are automatically displayed in the language of the user. We use a GEO-IP feature that detects where the enduser is located based on their IP, and every step of the payment process is then displayed in their native language and backed by local customer support p