How Electronic Checks Boost Your Profits
The more payment options you offer at checkout, the more sales you make.
Electronic checks capture new sales from buyers that do not have credit cards or simply prefer to pay by check. Adding electronic checks as a payment option increases sales 8-20%.
Over 75 million Americans do not have credit cards. Electronic checks give these customers a convenient, familiar and easy method to buy from you.
Top 10 Benefits Electronic Checks Give Your Business
Here are the top 10 advantages you get when offering electronic checks as a payment option.
- Increase Sales. Electronic checks are the most popular alternative payment option for internet merchants. 30% of ecommerce sites already have electronic checks on the checkout page.
- More Orders. Over 90% of US shoppers have bank accounts and can buy from you with electronic checks.
- Decrease Shopping Cart Abandonment. Rescue sales that otherwise would be lost. If a credit card is rejected, offer electronic checks as another way to pay.
- Save Money on Payment Processing. Rates for electronic checks are amazingly low, saving you 50-90% over credit card processing fees.
- Enhance Cash Flow. Electronic check processing ensures that orders are fulfilled. Use electronic checks to automatically debit your customers’ bank accounts. Take away payment-delaying tactics and eliminate the wait for a check to arrive by mail.
- Boost Revenues. By increasing customer payment options with electronic checks, you generate more sales and increase revenues.
- Satisfy Consumer Demand. Buyers expect to have multiple forms of payments offered at check out. Most Americans already pay utility and household bills with electronic checks and trust the familiar payment option.
- Competitive Advantage. Offering electronic checks at checkout gives you a competitive edge over merchants that do not Don’t risk unnecessarily losing a sale to a competitor.
- Lower Administrative Costs. Electronic checks virtually eliminates preparing and mailing customer invoices. Electronic checks decrease accounts receivable follow up costs, reduce bank fees; and lower administrative expenses.
- Increase Profit Margins. Because electronic checks cost less to process than cards, you reduce your cost per sales and boost your profit margins.
Stop Losing Sales. Start Accepting Electronic Checks Today.
Without an electronic checks payment option, sales are lost. Buyers have infinite places to shop online, including many that offer electronic checks as a payment option. Buyers that want to pay with electronic checks will leave your site and purchase from a merchant that offers electronic checks.
What are Electronic Checks?
Electronic checks automatically debit payments from a buyer’s bank account and deposit the funds into the seller’s account. A single electronic checks account lets companies accept payments online, by phone, fax or mail.
- Increase Sales by 8-20%.
- Give buyers another way to pay you.
- Easiest way to increase orders.
- Fast approval. Low rates.