Push Payments Offer Zero Chargeback, Instant Settlement Online Checkouts For Online Retailers At Half The Costs Of Credit Cards. Using The Real-Time Payments Network Funds Are Settled Instantly.
Agile Payments Announces New Push Payment Online Checkout Solution
The online checkout landscape has a new payment option that offers zero chargeback, instant settlement and significant savings compared to credit cards.
For the vast majority of online retailers, credit cards have been the dominant payment channel and for good reason. Credit card payments are authorized at the point of sale and the retailer knows they will be receiving the funds from that sale in 24-48 hours. Merchants typically pay around 3% for accepting cards as payment.
Wayne Akey, President at Agile Payments said “While credit cards do offer payment certainty there are multiple potential problems.The first is card declines. Depending on what is being sold and risk levels, declines can often exceed 15%. This can cause cart abandonment and loss of the sale. The second issue revolves around chargebacks and fraud. The consumer has the right to dispute the charge and if the card was compromised or they were unhappy they can initiate chargebacks for disputed debits. The third is the high cost of accepting cards. “
The new Push Payment solution turns the transaction flow around. Rather than debiting or pulling money from the customer, the consumer connects their bank account and then authorizes a Push Payment or credit to the merchant.
This revolutionary checkout change solves all three of the issues mentioned regarding credit card payments. If the consumer does not have the requisite funds in their account they can’t push money that is not there. Because they are initiating the payment there is no chargeback recourse. Push Payment costs are typically 50%+ less than credit cards.
Mr. Akey continued “Push Payments operate on the Real-Time Payments (RTP) payment rail and settle to the merchant’s bank account in seconds not days. Both the merchant and consumer must bank with a Real-Time Network participating bank. Currently around 60% of US bank accounts participate.
For more information around Push Payment Solutions visit AgilePayments.com/PushPayments
Name: Wayne Akey
Email: Send Email
Organization: Agile Payments
Address: 15 Ingersoll Road, Saratoga Springs, NY 12866, United States
Release ID: 89086385
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