Payforit
Clients have seen on average a 28% increase in revenues
Payforit allows consumers to buy content and services on the mobile and fixed internet and bill it straight to their mobile phone. Payforit will soon be mandated by all UK Mobile Network Operators for mobile internet purchases.
With Oxygen8, Payforit is available across all UK mobile networks. It charges directly to the consumer’s mobile phone bill, and is the most transparent and trusted way to buy goods and services on the internet using their mobile. We operate the latest version of Payforit (2.0) with its advanced features allowing you to maximise your revenue potential.
To reinforce consumer trust and confidence, the Payforit scheme is governed by ‘The Trusted Mobile Payment Framework’, a strict set of rules governing the actions and responsibilities of service providers, accredited payment intermediaries and the mobile network operators.
The Payforit Advantage
Using Payforit has many unique advantages for both consumers and merchants.
CONSUMER BENEFITS
- Trusted - The association of the Payforit logo with the Mobile Network encourages consumer confidence in purchasing from content providers using Payforit. The scheme ensures that consumers know what they are purchasing and how much the product or services cost with clear pricing, access to terms and conditions and merchant contact details before a purchase is confirmed.
- Easy to use - Consumers enjoy the familiar benefits of ‘click and buy’ purchasing without receiving multiple SMS billing messages. Once the payment request has been processed, consumers can continue their browsing session and make further purchases.
- Consistent - The consumer is presented with the same purchasing pages regardless of the merchant offering the services. With the growing popularity of Payforit, consumers will feel immediately familiar with the payment process leading to better conversion rates and greater ease of use for consumers.
- Convenient - Consumers do not need to register for Payforit. Their existing account with their mobile network operator provides all they need to purchase. No entering credit card details. Simple, anonymous purchases!
MERCHANT BENEFITS
- Increases your Market Size - Payforit allows consumers who do not have debit or credit cards to purchase. In the UK, that is estimated to be as high as 16% of the adult population for debit cards and 38% for credit cards; and amongst the youth sector, the prime target for many mobile services, it’s even higher.
- Opens up new marketing channels - Payforit’s MSISDN pass through feature (identifying a unique user as soon as they enter your site), facilitates the use of mobile internet marketing campaigns and click through advertising increasing the options you have to promote your service.
- Easier Opt in to Services - Unlike Premium SMS billing, an SMS from the end user’s handset is not needed to collect billing permission, whether it’s a once off purchase or subscription to a service. This creates a seamless consumer experience and means your customers stay on your site for longer.
- Flexible Pricing - Unlike Premium SMS which is limited to one tariff per Short Code in the UK, Payforit merchants can bill at a range of tariff points - up to £10 - through a single Payforit account. Consequently, merchants can make considerable savings on short code costs and operate flexible, dynamic pricing models.
- Guaranteed Revenue - Full payment is processed before delivery of goods and services meaning that there’s no more partial payment or out of credit re-billing and fewer customer complaints. Users receive a payment confirmation or screen encouraging them to top up. Transactions can be delayed until they have credit.
- Reduced customer care costs - Improved pricing transparency at the point of purchase, along with payment confirmation pages, result in fewer customer care queries. Furthermore, any refunds can be easily processed directly to a user’s mobile bill, reducing the cost of customer care and improving the customer experience. Simply put, costs go down and margins go up with Payforit.
- Automated Subscription handling - Payforit supports timed and event-driven subscription models, without the need for subscription reminder messages, reducing your costs and increasing your subscription lifecycles.
- Enhanced Conversion Rates - The ability to offer personalised browsing experiences through user tracking allows you to target content and advertising, improving your product offerings. Combined with the single click seamless payment process within a browsing session minimises purchase drop-offs and improves your conversion rates. At the end of a purchase, end users are returned back to your site for further purchases. Clients have seen up to a 28% increase in revenues.
- Build Opt in Data for the Future - Payforit provides the ability to build a solid database for future marketing with its ability to collect marketing opt in for both your own services and 3rd parties at the point of purchase. Opt in data is passed to the merchant which can be linked to a users previous browsing and purchasing behaviour.
Getting started with Payforit is simple
Oxygen8 is one of the leading and most trusted providers of integrated billing services. Oxygen8 offers simple-to-use, high-quality billing services across both the mobile and web.
To find out how Payforit can improve the profitability of your mobile or web services and help your business with WAP billing contact the Oxygen8 Sales Team today.
