Should I make my Online purchases with CASH or CREDIT?
DebitWay.ca offers 2 ways to accept cash on line via Debit Transfer services:
- DDT Direct Debit Transfer
- IOP INTERAC® Online Payment
IOP is geared toward Canadian consumers and eMerchants who seek to process cash transactions from Canadian eShoppers.
DDT, Direct Debit Transfer, is an entirely different kind of beast. eMerchants who offer the DDT (cash) payment option to their clientele, effectively open the their doors to the World. DebitWay’s DDT allow online merchants to accept debit (cash) transactions from over 150 banks worldwide, in over 60 distinct countries.
Make no mistake, credit cards are and will forever be a mainstay in the online payment industry. the question is NOT which method is best; Debit, eChecks or credit cards. The question is which method are YOUR clients most comfortable using?
Cash predates all forms of transaction methods. Intrinsically, people will trust, like and migrate toward what they have known for years. Cash is a safety blanket for many consumers so to speak, a savvy online merchant will make it a point to offer their consumers a “safety blanket”.
Choice is key, it has and will always be, Key. People want to know that they are able to choose what they prefer, whether that is Electronic Funds Transfer (eChecks; EFT or ACH for American consumers), credit card processing or Direct Debit Transfer (DDT or IOP for Canadian consumers).
The Holiday season is upon us and for a large contingency of online merchants it is their most profitable time of the year, for some, however, the spike in sales and transactions seem to skip them over and the holiday period comes and goes as just another day or week.
Which begs the question:
Are YOU Ready for Black Friday?
You may think that you have done your due diligence, that you have made the appropriate arrangements with your internet provider to up the bandwidth in anticipation of a deluge of web surfers rushing to your site.
You may well have strategically placed ads to lure eShoppers to your site and you may have even doled out some money of your own to hire extra staff in order to ensure that everything moves smoothly.
All of which is GREAT! But… what happens when this giant Tsunami of eShoppers and eConsumers turn their attention to completing their transactions? Will you be ready to process their requests? Will you have the payment method that they are set upon using?
Did you Know that Black Friday is the largest retail sales period year wide? More than Christmas and more than Boxing day… that is nothing to scoff at.
During the Black Friday period, consumers have been reported to make Debit Transactions in excess of 31 million dollars worth. Reports have indicated that a staggering 80% of purchases/transactions were done via Debit in 2010 and this number has grown to the tune of 1% a year since 2008! Now is the ideal time to make sure that your online store is equipped to offer its eConsumers the payment method that they want.
- Have YOU contacted DebitWay in order to make sure that you can offer IOP (INTERAC Online Payment) processing for your Canadian consumers?
- Have YOU inquired about DebitWay’s DDT (Direct Debit Transfer) to make sure that you can accept Debit Transactions from all around the Globe for consumers worldwide?
These questions may seem second nature and redundant now that you read them. However you would be surprised (or perhaps not if you don’t have Debit Processing) of just how many eMerchants neglect the most important aspect of their online businesses; processing the transactions!
You may think that if you have credit card and eWallet processing that you are good to go. And you’d be right; Good to go shoot yourself in the foot and watch another holiday bonanza pass you by!
And here is some more food for thought;
Not all Online Debit Transaction Processors are created equal, in fact quite the contrary. DebitWay Alternative Payment Processing offer you a choice of IOP or DDT (or BOTH), the beauty of DebitWay’s Debit transaction processing is that they are immune to CHARGE BACKS/REVERSALS.
Don’t waste time, find out more today and sign up ASAP! Don’t let millions of potential transactions pass you by.
Sign Up for IOP – Contact a Rep
Sign Up for DDT – Contact a Rep
Make Certain that Your Online Clients are as Happy as She is!
Since day 1 eMerchants have been clamoring for a global version of DebitWay’s INTERAC© Online Payment (IOP) method and while DebitWay has indeed offered such a service for numerous years, recently the “cash” payment option has been tweaked and refined to make it an indispensible commodity for all eMerchants, particularly those in the crypto currency and social gaming industries.
Consumers don’t want to know about that logistics behind payment processing, they don’t care. What the eConsumer wants to know is that he or she can pay for their online purchase anyway they want. Sure credit cards and eWallets may well saturate the online landscape; the truth is that the reign of these payment methods may well soon be at an end.
How and Why the average Online merchant should care (and make no mistake, they SHOULD care) about DebitWay’s online Direct Debit Transfer really shifts from industry to industry. lets dispense with the obvious benefits that correspond to ANY and ALL eMerchants who are using DebitWay’s DDT payment options:
- DebitWay’s DDT is a CASH purchase
- DebitWay’s DDT is protected from ChargeBacks/Reversals
- DebitWay’s DDT is Real-Time Transaction Processing
For more information on DebitWay and its family of payment methods feel free to reach out to our social department:
Payment Processing Info
If you are an online merchant, you have surely been made aware of the dreaded “Charge Back” or perhaps you have even fallen victim to it.
At DebitWay.ca we understand the electronic merchant (eMerchant) and we can empathize with the trials and tribulations of the detested charge back that go hand in hand with typical payment service providers and the payment methods they offer.
As an alternative payment service provider DebitWay.ca proposes different payment methods and this is to the eMerchant’s benefit. DebitWay.ca’s certified INTERAC® Online Payment (IOP) processing and DebitWay’s Direct Debit Transfer (DDT) provide online merchants with the luxury of receiving payments without the threat of charge backs.
DebitWay’s IOP (for Canadian consumers) and DebitWay’s DDT (for international consumers) are direct debit transactions, or if you prefer, “cash transactions” and as such they are not subject to charge backs.
In order to better understand what Charge Back/Reversals are and mean to the online merchant, we have drawn up the following article for you to use in order to ascertain a firm grasp/comprehension of what Charge Backs are, what they entail and why you should stay as far away as possible from them.
WHAT IS A CHARGE BACK AND HOW DOES IT START?
- A customer obtains a card from a bank or
- Transfers money into an eWallet
- Issues an online check
- The bank in question is called the “Issuing Bank”
- Chargebacks are a form of customer protection
- This customer protection is provided by the Issuing Bank
- A charge back is put into motion when a customer files a complaint due to fraudulent activity on their statement
- Once a customer complaint is filed, the Issuing Bank begins an investigation
WHAT HAPPENS IF THE COMPLAINT IS DEEMED INVALID?
- If the issuing bank concludes that the complaint is not valid, no refund from the merchant is requested.
- Processing Fees may be requested from the merchant
WHAT HAPPENS IF THE COMPLAINT IS DEEMED VALID?
- The issuing bank refunds the customer the original value
- The issuing bank takes back the entire value as well as a fee from the eMerchant
- Depending upon the merchant’s sponsoring bank, the additional fee can range from 0$ to 100$
VALID OR INVALID COMPLAINTS; AS A MERCHANT YOU WANT NOTHING TO DO WITH CHARGE BACKS
- The risk of product or service loss is always present
- The fees for payment processing are non recoverable
- The chargeback penalty is inescapable
- Funds can be held by the issuing bank for 90 days
- Risk of being “blacklisted”
- Damage to the merchants public profile
The law stipulates that a cardholder has up to 2 years to file a complaint and request a reversal/charge back. As a merchant this entails the need to maintain documentation safely for two years. Although some banks maintain a 6 month policy, the threat of a 2 year old transaction being subject to a reversal remains possible.
Make no mistake, as an online merchant, in regards to charge backs, YOU ARE GUILTY UNTIL PROVEN INNOCENT
The bottom line is that while every eMerchant’s goal is to process as many transactions as possible in order to earn as much profit as possible, a savvy eMerchant should do his due diligence and try his best to avoid falling victim to transaction reversals/charge backs.
The old adage “cash is king” holds true online. Direct debit transactions are indeed a “cash” transaction because of the nature of the payment processing. Imagine a virtual ATM that an online consumer can access to pull out cash and pay for your product or service.
WHY IOP AND DDT ARE MORE RELIABLE FORMS OF ONLINE PAYMENTS:
- They preclude the existence of reversals/charge backs
- Funds are directly deposited into the merchant account
- Funds are transferred in real-time
- Consumers need not disclose personal information
For more information on Chargebacks/Reversals or to inquire about DebitWay’s family of available payment methods,
please feel free to email us at:
From all of us at DebitWay we would like to wish you all a safe and Happy Halloween!
Collect bag fulls of candies and let us worry about all of your payment processing needs!
In case your stumped on ideas for what to dress up as. Here is a Top 10 list of the most popular Halloween Costumes:
Easy, quick and a sure fire costume for anyone who is short on time and in need of a disguise.
Every little girl (oh heck every woman) deserves to be a princess! When all else fails, dress up as one for Halloween!
Wether you are a fan of Bram Stoker’s Dracula, Anne Rice’s Lestat or a staunch advocate of the Twillight “glittering” vampire series, the truth will always remain that a little white powder and some fake fangs will go a long way towards getting you the awesome costume!
7. Ninja Turtle
Get a supersized Turtle shell, strap it to your back, select your favorite color Bandana *Purple, Blue, Red, Orange) with slits cut out for eyes and invest in some green… paint? And you can be anyone of Leonardo, Donatello, Raphael, or Michealangelo
6. Black Widow
From the Movie the Avengers! While not everyone can pull off a tight leather outfit quite like Scarlet Johansson, you can certainly try!
From the Movie Frozen. I know, I said Princess already and this is somewhat redundant. But you have to understand that Elsa is no ordinary princess!
From the Movie Guardians of the Galaxy
I am not quite sure how you would fashion a costume to look like a walking, talking tree person, but Groot is awesome!
3. Captain America
From the Movie the Avengers
That’s right, I said it. With so much movie fanfare you really can’t go wrong.
2. Billionaire Playboy Bruce Wayne
Batman’s alter ego is probably the easiest of all the costumes. Rent a Tux and walk around, Confident and self sufficient, easy as pie
And the Number 1 Halloween Costume!
You Can’t go wrong with the trusty Zombie Costume, need we say more?!