PaymentOne Hits $1 Billion Milestone

Wednesday 31 March 2004 09:50 CET | News

PaymentOne has surpassed the $1 billion mark for Internet content and service transactions processed using the companys integrated global payment platform. This significant milestone represents $1 billion of incremental online service and digital content revenues for PaymentOnes clients. Typically, PaymentOne clients realize an increase of 15 to 35 percent or more in customer acquisition rates when deploying PaymentOnes alternative payments strategies and best practices. Previously, without the benefit of PaymentOnes revenue optimization best practices or alternative payment options, many potential online customers were unreachable or abandoning a site at the point of purchase. Abandonment rates at the point of purchase range from 25 to 90 percent at typical online sites. To help online merchants address these significant obstacles, PaymentOne not only provides traditional credit card processing, but also sophisticated fraud management tools, global coverage and a unique set of non-credit card alternative payment options on one integrated platform. Non-card payment options include micropayments, prepaid accounts, putting charges on a consumers phone bill, direct bank debits and offline invoices for offline payment. For example, with PaymentOnes PhoneBill alternative payment option, consumers are not required to provide any private financial information over the Internet and can simply elect to have charges billed to their regular phone bill. As a result of PaymentOnes advanced validation technology and fraud control systems, there have been no known cases of identity theft fraud reported using PhoneBill, addressing the main consumer concern about shopping online.

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Categories: Payments & Commerce | Payments General
Countries: World
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