Online cash processing explained

[emjay]

As we slowly emerge from the longest recession in living memory, the online adult industry faces the additional challenge of having to compete with the seemingly unlimited amount of free material out there. With this in mind, the attractiveness and transparency of your join page is now more important than ever. The easier you make it for people to pay you, the better chance you have in exceeding your ROI and making a profit.

A brief glance at join pages currently being deployed will confirm the fact that the vast majority of them are still credit card centric. However, it must be bourne in mind that many people’s cards nowadays are maxed out. And even if they are not, ever increasing incidents of fraud and identity theft has made card holders increasingly reluctant to use them online merchants that they do not know or trust.

Despite a shift towards more forms of ecommerce in developed markets, cash still remains the most trusted form of money in the eyes of most people. And thanks to cash based online processing, you can benefit from the advantages of both.

Here’s how it works: let’s say that you decide to stick to the price point that the majority of webmasters seem to feel comfortable with: $29.90 for a month’s membership to your site. If the customer elects to pay you by cash, clicking the relevant button on your join page will both display this in their local currency, and serve a map indicating the nearest local convenience store or paypoint that will accept that amount in cash in return for the voucher needed in order for them to gain access to your member’s area.

Upon receipt of the cash, the issuing point will automatically notify the processor via an existing secure payment network infrastructure such as Paypoint or Payzone. The processor then authorises access to your site once the secure and unique voucher ID is entered into the relevant area of your website. If the cash value of the voucher exceeds your subscription value, then the resulting ‘change’ can be used at another website that utilises the same mechanism or even be donated to charity.

Thanks to its patented technology, UK based www.ukash.com are the only noteworthy processor in this space, and have effectively cornered it accordingly. Already a significant processor for the online gaming industry, it now has its sights firmly set on the adult one.

Their solution allows consumers in Austria, Australia, Belgium, the Czech Republic, Denmark, Estonia, Finland, France, Hungary, Ireland, Italy Latvia, the Netherlands, Norway, Poland, Portugal, Russia, Slovakia, Spain, Sweden, Ukraine and the UK to pay for goods and services safely and conveniently online. Blue Label Telecoms Group, who have been working with Microsoft Corporation since 2007, became a strategic partner Ukash a year later.

You can therefore expect to hear much more about this innovative company whose underlying billing mechanism remains the most traditional and trusted form of money – cash is indeed still king.