Online billing system 123Bill is waiving the set-up fee for any established merchants with existing businesses.
“123bill is the next phase of evolution for billing online,” owner Brad Mitchell told AVNOnline.com. “By combining our advancing technologies with proven methods from our past, we have developed a system that overcomes the problems associated with e-commerce billing.
“Waiving the set-up fee is part of an introductory offer and is scheduled to continue through the end of August 2004,” he continued. “Since we know what it’s like to be faced with exorbitant fees for merchant accounts, we decided to open our doors with an offer that no online merchant could refuse. We give every online vendor the opportunity to make more money with no financial risk.”
123Bill verifies customer identity through various credit reporting agencies. Once the information is verified, customers receive both an e-invoice and a hard copy invoice via postal mail, which they can pay by check or money order. Simultaneously, the customer receives immediate access to the products or site and has 30 days from the date of purchase to pay the bill via check or money order.123Bill not only handles all of the details from invoicing to collections, they also assume all of the risk to deliver guaranteed funds to you. Plus, there are no length-of-term stipulations in their contracts.
The system uses a driver’s license and social security information to verify customer identity. This qualifies 123Bill as a true age verification service. Unfortunately, this also means that 123Bill is only viable for U.S. customers. However, merchants worldwide are able to use 123Bill for verification purposes and to increase revenue. Having it as an alternative payment option does not compromise current operations and affiliate network, the company assures. Their technology is set up to handle one-time payments, rebills, affiliate reporting, cancellations and more.
Additionally, 123Bill guarantees all of its merchant clients 65 percent gross of every sale made through the company. When a credit card processor rejects a sale, it is typically lost money for a merchant. 123Bill assumes all the responsibility and risk of turning that lost sale into cash in a merchant’s account.
“As Internet commerce continues to expand and evolve, we are confident that 123Bill will become a standard in online payment options,” said Mitchell. “Of course, we are not suggesting we will overtake credit card sales; rather, we offer the most viable option for a credit card alternative. We are confident in the thoroughness of our system and our ability to collect from customers. Our business model was designed, from the ground up, to take all factors into account when deciding percentages, so that we are able to guarantee a payout to every merchant on every sale.”
