I was shopping for a birthday gift for my mother last week.
Like most online buyers, I clicked from site to site looking for the perfect gift. Finally, I found exactly what I was looking for. Then I searched site to site to find the lowest price on the item.
Finally, I found the site that I wanted to buy the item from. I put it in the shopping cart and headed to the checkout page.
Imagine my dismay when I discovered I could not buy on this site. The reason? I prefer to pay using an electronic check rather than a card. And the merchant did not accept checks online.
Returning to my list of other sites that had the product, I discovered another merchant that accepted echecks This merchant got the sale. And I will return to buy other items from the merchant’s site in the future.
How many shoppers are there like me that want to pay with an echeck yet cannot because the merchant does not accept checks online?
It amazes me that in these days when so much has been written about the value of accepting a variety of payment methods, some online merchants still do not accept echecks.
After all, electronic checks are the most popular alternative payment method for US shoppers. Millions of Americans regularly pay for goods & services online with electronic checks.
Certainly, credit. and debit cards are the most common method of paying online for US consumers. Yet, many shoppers prefer to pay with an echeck rather than a card.
Electronic checks get you sales from customers that do not have cards, are maxed out on cards, or who simply prefer to pay with a debit from a bank account rather than a card.
How much money are you throwing away because you are not accepting checks online?
The more ways buyers can pay you, the more money you make. You increase sales 10-40% simply by adding echecks as a payment method on your checkout page.
Electronic checks save you money on processing fees. There is no “interchange” associated with echecks as there is with cards. As a result, echecks save you 50-80% on processing fees compared to cards. Reducing your cost of sales for items paid for with electronic checks rather than with cards.
If you do not accept checks online, you are losing losing sales to your competitors who do. Accepting electronic checks as a payment method at checkout is the fastest and easiest way to increase sales, with no additional work.
The site that I was originally going to buy my mom's gift from will never see me again because it did not accept my preferred payment method. There were many other sites where I could buy the same product and pay with a check online.
That merchant lost the sale for this order. And future orders from me.
The merchant did not accept the payment method I preferred. But their competitor did. And that is where I am shopping now.
Do you want to accept checks online to increase sales & profits?
Contact firstname.lastname@example.org today. Or call 866-ACH-7600.