SMS billing increases customer conversion |
One thing every m-commerce merchant has to think of, is how difficult it is for someone to actually pay.
Although everyone and his son has a credit card, actually it is not so trivial to pay with it, it requires at least a minute (more like 3 minutes in average) and typing of name, address and all the card details. Of course you have to find your card first.
Conversion from putting a product/service into a shopping cart, to actually paying for the product are not exactly idea for credit cards. With SMS payments, and basically most forms of mobile billing, customers can usually pay with either one click (if they are buying from their mobile – which means that the network operator can detect their mobile phone number), or at most in 3 easy steps, which do not require any information the customer does not already know by heart (mobile phone number).
If has been proven that SMS payments, having lower payouts to merchants (percentage of sales value which merchant actually gets to his bank account) compared to cards, more than make up for the difference by the great conversion ration.
With some Direct Mobile Billing services, like PayForIt in the United Kingdom, conversion rates are huge, more than 70%. We invite you to Signup for free to PencePay and allow your customers to pay/donate/support your service or product with one click!