Is Phone Billing the Next e-Wallet?
As published in Phone Plus Magazine http://www.phoneplusmag.com/articles/07marsoap.html
Despite the increased sophistication of the online marketplace, and the staggering growth in the number of e-commerce transactions conducted in 2006, payment acceptance limitations remain a significant issue to the digital merchant community.
The large majority of transactions conducted online are performed via credit card. Yet, according to countless consumer surveys, the security of personal information when conducting online payments remains a major concern for consumers when performing digital transactions. With the rise of identity theft, they continue to perceive serious shortcomings with today's online payment options.
As this concern grows, reliable and safe online payment options become ever more important for digital merchants. Most consumers now think twice before paying with a credit card over the Internet, and argue that many merchants are not doing enough to protect customer information. This new consumer market is setting the stage for a change in e-commerce payment methods, creating a demand for alternative payment options.
"Once perceived to be declining along with traditional wireline long-distance service subscribers, Phone billing is proving to be a viable payment option to new growth markets with substantially less consumer risk."
- Dennis Stoutenburgh, President and COO, ILD
Realizing that the Internet is an important vehicle for reaching consumers, local exchange carriers are stepping outside of traditional telephony and embracing digital content, like digital TV, ISP services and a variety of entertainment services. The evolution of LEC billing has moved beyond traditional long-distance and telecommunications services to the digital marketplace. Given these changes, it begs the question, is LEC billing a viable payment alternative for the digital content community? Continue |
