TulipTools Internet Business Owners and Online Sellers Community

Quote:For Internet purchases, credit cards dominate the payment landscape.

However, the balance of power between credit cards and cash-like options is starting to shift. In just three years, alternative payments volume is expected to jump from 12 percent to 26 percent, while credit card volume will drop below 50 percent...

Quote:As more and more merchants consider online banking as a payment option to service new customer segments, they maximize the investments made into scalable e-commerce sites. With online banking, consumers enjoy safe shopping throughout the year, and merchants reap the lucrative benefits of offering payment options and great customer service.

full article: http://ecommercetimes.com/story/l05mZiPz...Boom.xhtml

http://web.modasolutions.com/
http://web.modasolutions.com/template.php?unique=41

Secure e-Bill's FAQ doesn't list their fees  :

Maggie,

I just looked at Secure E-Bill also and didn't see anything. From what I can tell, there don't seem to be any associated fees for the merchant offering this option. I suspect it is a service designed to assist the banking industry and perhaps they are not charging merchant fees or perhaps the customer simply pays a fee to the bank itself for transactions?

However, I may well be wrong. 

I'm going to do a little research and see what I can find out.


Btw, thanks Mandy!

Very interesting!

I'm a bit skeptical, however.  The power of buyer protection using plastic on the internet is tremendous.  Unless you only deal with *known* or reputable sellers... the drop below 50% seem unlikely to me.

Cheers

Okay, just did a live chat with them and although I did find out that they do charge fees to the merchant offering SEB as a payment alternative, they could not provide me with info as to the actual fee schedule.

Quote:    Support Chat


[Operator] Welcome to SECURE-eBill support, how may I help you?
[Visitor] Yes, a question for you, please. Are there any fees for the merchant offering SEB as a payment option?
[Operator] Yes, merchants are charged transaction fees for using SECURE-eBill. Are you a merchant?
[Visitor] Yes. Where can I find info on the related fees, please?
[Operator] You can find out our fees through SECURE-eBill sales.
[Operator] May I have someone from business development contact you? I am sure they will be able to answer all of your questions.

[Visitor] No, at this time, I simply would like to see a fee schedule.
[Operator] OK well you can also send an email to sales@secure-ebill.com if you like and someone will respond to you.
[Operator] Just to give you an idea it is priced on trasactions based on volume.
[Visitor] Okay, I will email. Thank you for your time.
ConnectedSend Message:

The link to Live Chat is:

http://www.secure-ebill.com/

A related article on one merchant's results with Secure E-Bill:

Quote: Customers at computer retailer CompSource.com choosing to pay through an e-mailed invoice, or e-bill—which lets them pay directly from their personal bank account—spend about 15-20% more per order than other customers...

About 4% of CompSource customers opt to use the Secure-eBill service, Bellone says. “It seems to be popular with a certain breed of customers that choose Secure-eBill for security reasons,” he says. When customers use Secure-eBill, the retailer doesn`t hold any of their personal information like credit card account numbers of birth dates, he adds.

The use of Secure-eBill among CompSource customers rises to over 6% when the e-billing service is tied to special promotions such as $10 off purchases...

full article: http://www.internetretailer.com/dailyNews.asp?id=21288

The cost to the merchant is approximately 1%--------less than you pay for accepting a cc payment.

Secure e-Bill  is offered by ModaSolutions:

              http://web.modasolutions.com

I will be offering this solution to my customers. Is anyone else here utilizing this option yet?