Paying by Cash

I'll grant you paying by cash in the context of stores isn't particularly interesting, but in my quest to try new payment methods I decided to pay by cash at an online store. Using a credit card means I have to hoist myself off the couch, find the card, and enter all those digits. Google Checkout certainly makes that task easier by storing my credit card information, but what happens to all those people that don't have a credit card? What about the ones that are afraid to use credit cards over the internet.

There are three main options for cash payment, not all of which are accepted by every merchant. The most popular is PayPal. The issue I have with them is that returns and disputes have to be handled with PayPal, not the merchant. I once used PayPal at a shady online store and lost my money. Yeah, my bad but they wouldn't help me at all. PayPal was purchased by eBay in 2002.

BillMeLater is best for larger purchases, because at checkout they actually run a credit check to make sure you're credit worthy. Assuming you are, they pay the merchant on your behalf and mail you a bill, which you better pay quickly or interest will start to accrue. That's nice for the merchant because they get paid right away, and I presume there's no charge-backs. BillMeLater was purchased by eBay in 2008.

eBillMe.JPG

Last night I tried eBillMe for the first time. After checkout, they send you a bill via email and expect you to pay either via online banking (they provide the instructions to set everything up) or walk-in locations across the US (typically banks). The process was quick and easy. The merchant doesn't ship the product until the bill is paid, so there's a day or two delay. For the merchant there are no charge-backs, and the fees are less than credit cards. For the shopper, they provide buyer protection similar to that offered by credit cards, and 1% cashback on purchases. Once the online bill-pay is setup, its easy to reuse in the future. Seems like a win-win for merchants and shoppers.

Comments:

David thanks for your review of eBillme. I agree this is certainly a "win-win for merchants and shoppers".

The fees for eBillme are normally 1.0% for the merchant, which is a huge discount off the high rates that the credit card companies charge (normally 2.5% - 3.0%).

For the consumer we offer them the opportunity to shop online without using a credit card. People love this because it allows them to "shop debt free" along with security benefits that credit cards can't match. eBillme also offers users buyer protection like Best Price Guarantee and Fraud Protection. Plus, as you stated, Cashback with ever purchase!

Currently there are over 800 online stores that accept eBillme including Sears.com, Buy.com, ShoeBuy.com, TigerDirect.com & CSNStores.com and more stores are coming on-board every month.

If your readers would like try eBillme we have a great offer for them! Use coupon code "tryebillme" and save $10 off orders $50 or more. Visit us at shop.ebillme.com today.

Posted by Eric Lituchy on March 31, 2010 at 02:14 AM CDT #

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David Dorf, Sr Director Technology Strategy for Oracle Retail, shares news and ideas about the retail industry with a focus on innovation and emerging technologies.


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