Bill2Phone™ provides a fast, secure telephone bill payment alternative with new purchasing demographic for online merchants
SAN ANTONIO, TEXAS – March 12, 2007 – BSG Clearing Solutions, (BSG), the telecom industry’s leading clearing and settlement provider, today announced the availability of Bill2Phone™, a real-time payment solution that offers online merchants, content aggregators and e-wallet providers the ability to process electronic payments to consumers’ local telephone bill. Bill2Phone™ includes risk management, advanced transactional and settlements reporting, recurring payments and a virtual terminal. Since its availability on January 15, 2007, BSG has closed five new Bill2Phone™ customer contracts.
With over 1,400 LEC billing partnerships, BSG’s Bill2Phone™ gives merchants expanded consumer reach with access to over 140 million local telephone bills. Online merchants will also be able to expand their customer reach demographics by providing Bill2Phone™ to new consumers that don’t have, can’t have, or don’t use credit cards. This new demographic allows merchants to optimize their revenue through consumer expansion.
“BSG has taken a leadership position by working very closely with the LEC community and online merchants to ensure Bill2Phone™ provides the industry’s most secure, convenient telephone billing payment option,” commented Greg Carter, President of BSG Clearing Solutions North America, LLC. “With credit card-like, web service interfaces and competitive prices, merchants can now easily add this unique payment solution to their shopping carts, thereby opening up new customer demographics, realizing purchasing uplift, and providing a world class buying experience.”
According to the Yankee Group, 40% of the population using the Internet does not have credit cards, and in a study conducted by Internet Retailer, 78% of consumers said “they would be more inclined to purchase online if given a safer, more convenient payment method than a credit card.” Not only can the Bill2Phone™ increase customer satisfaction by offering a safer alternative, but it can also reduce checkout abandonment for the merchants by offering a non-credit card payment solution.
As part of BSG’s Advanced Payment Gateway (APG™), Bill2Phone™ shares the same high-availability architecture and PCI compliance features of BSG’s credit card processing and acquiring solutions. The feature set is designed to make it easier for merchants to accept multiple payment options and use a single payments processor for Terminal Services, Real-Time and Batch Processing, Reporting, Recurring Billing, Risk Management and more. Bill2Phone™ features include:
• E-Statements: Emailed statements of all purchases made in a given day helps the consumer accurately keep track of spending on the telephone bill
• E-Mail Purchase Confirmations: Available to merchants who would like their customers to receive a confirmation of goods just purchased
• Virtual Terminal: Allows merchants to enter or modify a single transaction on behalf of the user
• Recurring Payments: Allows merchants to set up a recurring charge for a consumer with appropriate notifications
• URU™ Authentication Services: Verifies that a consumer is who they say they are and are authorized to purchase
• WebTrack™ Reporting: Includes reports for full transaction life cycle management and settlement positions to properly manage the merchant’s business
• Real-Time and Batch Interfaces: Common unified interfaces between all payment types in near real-time or batch to simplify usage and match merchant requirements. APIs are available for recurring billing or single transactions
• Risk Management Solutions: Optional fraud management controls, analysis and models to maximize profits and reduce risk
Bill2Phone™ also includes BSG’s URU™, from its Risk Management solutions. BSG’s fraud solutions can provide the following: Balance Management Authorizations, Real-time Authentications using any of the following databases: (LEC databases, credit bureaus), LEC specific authorization types like BillBlock, the largest phone number-based negatives database, fraud monitoring with advanced heuristics and merchant specific transaction analytic modeling.
For more information, please contact Ben Scroggs from BSG Clearing Solutions at +1 210 949 7043.
BSG Clearing Solutions
Tel (210) 949-7043
Cell (210) 483-3715