Philadelphia, Pa - February 22, 2006 Leading aquatic retailer Big Al’s Online is netting new customers and repeat business, thanks to a new payment option that allows online shoppers to easily pay for goods using their online banking account. MODASolution’s SECURE-eBill is a unique payment alternative for consumers who don’t have a credit card, don’t want to use their credit card, or don’t want to enter sensitive personal or financial information online.
During the launch period Big Al’s Online (www.bigalsonline.com) saw a 6% adoption rate, with 45% of their customers returning to the site to make at least one additional purchase. Even more impressive, 39% of the SECURE-eBill users were brand new customers, demonstrating the appeal of this payment option to new segments of consumers.
With SECURE-eBill shoppers simply click the payment option at checkout and complete their purchase by providing only an email address – no personal or financial information is required. Seconds later an e-mail invoice (eBill) confirming their purchase arrives in the shopper’s e-mail. Customers then pay the eBill through their online bank, just as they would pay a utility bill.
In addition to expanding sales, SECURE-eBill cuts expenses for online merchants with fees approximately 60% less per transaction than credit cards.
“Simply put, MODASolutions’ SECURE-eBill has simultaneously increased our revenue and reduced costs,” says Dan Hamilton, Director of eCommerce for Big Al’s Online, which has been offering SECURE-eBill since last May. “And repeat order rates have exceeded our expectations. In fact, so many customers have been taken with the convenience and ease of SECURE-eBill, they’ve made it their preferred online payment option.”
“Big Al’s Online demonstrates the significant financial impact SECURE-eBill can have on a merchant’s business by making it easier for people to shop safely online,” says Marwan Forzley, President and CEO of MODASolutions. “People want better checkout options, total security, and peace of mind when shopping on the Web. SECURE-eBill gives them that and more, while helping merchants build repeat business, reduce fraud, and cut costs. It’s simply a better way to do business online.”
ABOUT MODASolutions
MODASolutions provides payment and order processing capabilities that link online banking with online shopping to reduce the risk of e-commerce transactions for consumers and merchants. The company’s proprietary software, processing technologies, and services allow merchants to expand markets, manage fraud, and reduce costs, while satisfying consumer demand for secure online shopping. MODASolutions’ flagship offering, SECURE-eBill™, lets consumers pay for products and services purchased online through the security and convenience of their existing online bank account. SECURE-eBill is integrated into leading e-commerce platforms.
MODASolutions has strategic relationships with some of the industry’s leading companies such as Novator, an online retail service provider; CardinalCommerce, the leading provider of Verified by Visa, MasterCard® SecureCode™, and JCB J/Secure Worldwide; and MasterCard RPPS®, an electronic payment network that leading consumer service providers, billers, and lockbox service providers utilize as their single service connection.
MODASolutions has offices in Philadelphia, Atlanta, and Ottawa. Find out more about MODASolutions and SECURE-eBill by visiting www.modasolutions.com and http://www.SECURE-eBill.com.
About Big Al’s Online
Big Al's Online, ‘The Aquatic Mail Order Specialist’, was originally launched as a division of Big Al’s, Canada's largest aquarium retail chain. Recognizing that online retail could offer customers great savings, selection and the convenience of around-the-clock shopping, Big Al’s formed an e-commerce division in 1999. Today, Big Al’s Online offers consumers in the US and Canada over 7,000 aquatic products from more than 100 manufacturers.
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