Online Micropayment Technology Saves On The Merchant Transaction Fees
(digitalmoneyworld.com) Have you seen the ad on TV where a guy runs into the convenient store, grabs a soda, waves his payment card and runs out. Today’s technology has created fast, convenient, non cash payment options for any size purchase. The soda may have only cost $.75 cents but he charged it instead of paying cash. More and more merchants around the globe are moving towards the plastic and away from the green stuff. Merchants are now more widely accepting a charge (debit or credit) for the very small payments.
But what about the fees involved when accepting a few thousand $.38 and $1.74 cent plastic purchases? Won’t the merchant lose money in the long run because of all the credit card processing and bank fees? Seems like the old processing fees would put that merchant right out of business.
A company called Javien, has created an easy solution which allows customers to continue making those small purchases and not eat up the merchant’s profit.
“Javien Digital Payment Solutions, Inc. delivers to content providers a total commerce solution for powering online and off-deck mobile sales of digital content and physical goods. Their platform is flexible, adaptable and scalable. Javien is backed by K&K Capital Group, which ranks among the most significant financial groups in the Czech Republic. It manages assets of 2 billion USD and employs more than 7,000 people. K&K Capital Group’s portfolio includes more than 20 companies around the world.”
Javien Micropay’s patented* adaptive micropayment aggregation engine can minimize the payment processing fees making it possible to accept a million $.78 cent transactions from customers’ plastic.
Consequently, no matter if its ten $.99 cent payments over the course of a day or 100 of them, the merchant can set their own rules to avoid the big fees. Javien will batch together a multitude of small payments thus saving the merchant some big money. *javien.com/press
In addition to batching transactions according to rules determined and created by the merchant, the sellers have even further control of their online shop with the use of Javien’s advanced business rules. These rules can be set up or modified to meet certain criteria which are determined by the customer’s behavior. The data which creates the rule, can be based on an individual buyer’s behavior or the behavior of a entire category of buyers over a specific time frame.
How does that work?
The merchant rules can be set up so that a group of transactions are ‘batched’ together and charged only when the amount is equal to a pre specified dollar figure. Say your best selling items are all between $.89 and $1.10, you can set your rules to transact a charge only after a total aggregate of $10 has been reached. Hence, you batched together 9 or 10 actual sales into one charge fee. Over just a short time, this can be a monster savings to your bottom line. Javien Micropay also can helps merchants provide the method of payment convenient for the customer.
I believe the idea is to increase sales while decreasing the processing costs.
The Javien platform powers the sales of leading companies in entertainment, media and publishing including MTV Networks, Trans World Entertainment, Ruckus Network(very cool), SNOCAP and Forbes.com. In fact just about two weeks ago Javien announced a deal offering their alternative payment options for a large MMOGs company called K2 Network. K2 has has over 10 million registered users!
Javien’s technology supports subscription-based models and pay-per-view products. Javien is certified for multiple payment gateways including Authorize.net, Chase Paymentech Solutions, Cybersource, GlobalCollect, Optimal Payments and Paypal.
