Non-bank card payments in cash starting at $0.01 to $100.00.
The Merchant adds a WPID button as a payment option.
A Member can make a purchase and select WPID to process the payment of the purchase.
The funds are processed similarly to a credit card transaction.
Payments are posted to the Merchant WebPicid account and settled weekly.
Funds are wired to the Merchant bank account on the following Wednesday.
A statement of account is available online.
All invoices are sent to the Merchant via Secure Message.
Tracking and delivery information is sent to WebPicID by the Merchant.
WebPicID forwards this information to the Buyer via Secure Message.
One less piece of information not sent by email.
The fees for Micro Payment are:
10% on the first 23 cents and then $02 cents + 1%.
The net to the Merchant for $1.00 is $0.97 compared to the $0.82.5 of a credit card.
Consider the benefit of no charge-backs and the lack of returns.
The credit and debit memos are sent to both parties by Secure Message.
All disputes are between the Merchant and the Buyer.
Benefits to the Merchant
Can process a payment for $0.01.
Increase NOI on $1.00 sales from $0.82 to $0.097 increasing to $1.58 on $100.00.
No charge-backs or frauds.
New Markets
Suppliers of virtual items under $1.00 are opened up.
Individuals under 18 years of age with parental approval. (50 Million)
Individuals who are afraid to use a bank card online. (50 million)