Bill payments lastest benchmarks

POS SOFTWARE

Right now what people that do Bill Payments are that some of the power companies are going to get more into it. This, I am told will open up some more business opportunities. I personally not clear as to what is happened, I have just been told that something will be arriving soon and the Bill Payment processing companies are very excited about it. 

Overall looking over the lastest results for my clients using our integrated Bill Payment service, I see a slight decline in the use of Bill Payments. Still, overall Bill Payments are a huge market, the primary plus most see in it is that it brings people into the shop. Currently taking out those that do very few, because almost certainly they are just doing their bill payments, I get an average shop doing about 1 to 3 bill payments a day.

When I looked at the sales history, it does appear that they do tend to buy more than just doing a Bill Payment. So it does seem to be working from the perspective of bringing people into the shop.

The time taken to do a transaction is minimal. My benchmark study shows seconds. 

The shop gets paid instantly.

If you are thinking of getting involved, please note there are no commitments or money upfront, no fees and if it does not work for you, you can stop using it whenever you like. 

PS If you are doing Bill Payments now, contact us as far as I know our offering is best as unlike others we do not charge or take anything out of your commission. Most importantly we probably have more billers - Australian Post, for example, I saw in a post with BPAY had about 2,000 to 3,000 billers while our Bill Payments service has over 40,000 billers. From a marketing perspective, there are many advantages in this larger pool of billers as our clients as in many areas will have a monopoly on many products as they are the selling long-tail and niche products. Also, in practice retailers today make most of their profits from items that few others have. Someone needs to pay an obscure bill, and they need to pay in cash, where are they going to go? They cannot go to a post office as they do not handle it. So hopefully, they will come to our client, once a month.

Add new comment

Restricted HTML

  • Allowed HTML tags: <a href hreflang> <em> <strong> <cite> <blockquote cite> <code> <ul type> <ol start type> <li> <dl> <dt> <dd> <h2 id> <h3 id> <h4 id> <h5 id> <h6 id>
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
CAPTCHA This question is for testing whether or not you are a human visitor and to prevent automated spam submissions.