Consumer perceptions are integral to managing the user experience while online shopping, and only thoughtful and careful management of this process leads to repeat business and success. Some important current perceptions on security were revealed by a recent survey conducted by Javelin Research on behalf of eBillme and First Data.  It asked consumers the following question: If you were to experience identity theft as a result of online shopping, who would you consider primarily at fault? The responses showed that a majority (60% of those surveyed) put the merchant at fault, followed by 22% who didn’t know, 10% who said other, and 8% who blamed the payment provider.

On the other hand, when asked who they would turn to for assistance upon experiencing identity theft, the leading answer was the payments provider, at 42%, and not the merchant. 17% responded that they did not know who to go to for help, 14% would go to the merchant, and another 14% would go to the police or a law enforcement agency. 5% chose other, and 3% selected the Federal Trade Commission (FTC).

These results suggest two things. Firstly, merchants should carefully evaluate what payment providers they choose for their shopping sites, lest it reflect badly on them. A good payment provider will minimize the risk of identity theft and provide a good experience for customers. Secondly, consumers need more education on where to turn for assistance should identity theft occur. Protecting consumers with a secure payment provider is crucial for the integrity of their private information, the safety of the transaction, and the merchant’s long term business success. Here are some questions for merchants to consider when evaluating payment options for their sites:

About Customer Information

- Does the payment option collect personal information (such as DOB or SSN)?

- Does the payment option collect personal financial information (such as card number, routing numbers, or bank login/passwords)?

- Does the payment provider store this information?

- Is their storage process/facilities secured?

- What happens if there is a data breach?

- Is the payment option susceptible to phishing attempts?

- Is ID theft easy to commit with the payment option?

About Protection and Processing

- How does money flow from the customer to your account?

- What level of protection does the payment option offer a customer?

- Are there limits to the coverage?

- Is the consumer liable for any of it? Are there deductibles?

- Is there a time limit after which the customer is liable for the total amount?

- Does the payment option offer addition protection to you and the customer?

- Does the payment option force you to underwrite the payments?

- Are there any NSF and Chargeback risks with the payment option?

From a historical standpoint cash has been the long time favorite method of payment, with credit coming a distant second for the simple reason that using credit means you’ll incur the wrath of interest—and historians are unanimous that there has never ever been a period in history where people have truly enjoyed paying interest. (People have always enjoyed living debt free)

With the introduction of the internet credit became the natural option for payment. It had been the method of payment for all shipped goods up until that point and was a no-brainer, but is that really what we want? The opportunity to pay more interest?

According to the eBillme Online Spending Index, 21% of Total respondents said ‘Yes’ when asked ‘I would purchase more online if I could pay using available funds through my bank’s bill pay web site.’ If anything, it proves that historians continue to be right, even in the internet age.

Here’s another interesting fact: at one point in time it was illegal to charge interest! Nowadays we’re unfazed when something as unlikely as a parking meter charges interest on the amount of time we’ve spent parking.

Isn’t it about time for a change? Find out more about alternative payment options, and how to pay cash online!

These numbers show that there is a call for more stringent fraud protection for online transactions. On your end, you can make sure that your browser is secure, and never enter your personal information on a public computer. Also, make sure that the site you’re shopping on guarantees the security of your information in writing, or you can shop with eBillme where you can safely pay cash online!

Learn more about how to start shopping directly with the internet’s foremost cash payment option.

When you go to a store near you, you walk up to the teller, hand off the new blender you like, get it scanned and pay. When you pay, you the customer make a choice, you can pay with credit instruments, or you can pay with cash or cash alternatives. The credit card bill will absolutely have some impact on how people will pay in general, but unlike brick and mortar location, online merchants have by in large depended on credit instruments to process payments. This has several implications especially to those retailers serving the under 21 market.

The credit card bill has reduced the ability of those younger than 21 to borrow, with some exceptions

1. You may still get credit if your parents sign off
2. You will need to take a course before you qualify for credit
3. Show proof that you have stable income and the ability to repay what you borrow.
4. OR, You can get Married

If you are younger than 21 and are not ready to walk down the isle just for the privelige of shopping (especially shopping online), you can turn to cash payment alternatives such as “eBillme Teen” to buy online with cash.

“This recent financing represents a significant milestone for eBillme and comes at a time of exciting company growth,” says Marwan Forzley, President and CEO of eBillme. “We will use this funding to further our merchant acquisitions and our expansion into new markets and consumer segments. Canaan Partners is highly regarded in the investment industry and we are excited to work with them to drive even greater growth for our company.”

eBillme transactions occur securely, bank to bank, with no personal or financial information required or transmitted over the Internet. Because shoppers pay directly from their online bank account, they don’t release any financial information online. This helps consumers manage their spending and debt, while better safeguarding themselves from identity theft and fraud risks. eBillme’s buyer protection program takes security a step further. Provided at no cost to shoppers and retailers, the buyer protection features have the same or a better level of buyer protection than premium credit cards. Protection features include a return guarantee, price guarantee, in-transit protection, and fraud protection. Consumers can shop with confidence knowing their eBillme transaction is guaranteed and protected.

“eBillme’s technology addresses a growing demand for truly secure, online payment methods that aren’t credit based,” said Maha Ibrahim of Canaan Partners.

“eBillme allows consumers to shop online with confidence that each transaction is protected, and it gives merchants an opportunity to capture new sales. As the alternative payments industry continues to grow, we are excited to help eBillme continue their market leadership and expand their payment offering across multiple channels.”