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Online Dating Service Attributes Firms Success to Debit Cards

Friday 30 April 2004 09:44 CET | News

In just 9 months since signing up with UseMyBanks online debit payment service, The Ashley Madison Agency has increased sales by 10% and attributes the up-tick in revenue to customers being able to pay using their online bank. More options means more revenue.The Ashley Madison Agency, which operates one of Canadas busiest online dating services says that the option to add debit cards to its stable of payment options was necessary. Ashley Madison signed up for the online payment solution in August 2003 after customer buying patterns and surveys suggested their members would acclimate to an instant, online debit card payment system. Online debit is similar to the experience of swiping your bankcard at a Point-of-sale terminal through the Interac Network. Under the terms of their agreement, UseMyBank will facilitate Ashley Madisons customers for all online debit transactions. As an alternative to using cheques, credit cards or money orders, members enjoy the additional payment option of using their existing online bank account. This will be advantageous to the 40%-50% of consumers that dont have or use credit cards online. Checkout abandonment occurs in nearly 50 percent of all cases at the time credit card information is requested. Thats a lot of lost sales. Ashley Madison can rely on immediate confirmation of receipt of funds as the payment is debited immediately from the customers bank account and queued for settlement - without holdbacks, chargebacks or NSFs. Together with over 500 other online merchants, Ashley Madison enjoys the capability of accepting instant online debit payments from over 8.4 million major bank consumers. UseMyBank is currently expanding with most major US and European banks to offer worldwide service. To prepare for this, their debit service now supports multiple currencies such as the U.S. dollar and the European Euro.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce