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Offer cash as a selling point

For customers worried about sharing their credit data online, there are services that can ease their fears.

With the crucial Christmas season approaching, it is vital for online retailers to ensure they can accommodate a wide range of customers. Offering cash payment online could be one way to ensure this.

Payment supplier PayPoint has implemented its PayCash system into streetwear etailer Urban Industry’s website www.urbanindustry.co.uk, which claims to be the first clothing store to embrace this new online payment method.

Using the PayCash system, the customer completes an order and receives a confirmation email from the online retailer. Attached to the email is a PayCash receipt, which contains a barcode. The customer prints this off and takes it to one of 20,000 stores which offer PayPoint, which include local corner shops, Spars and newsagents across the UK, and presents the receipt to be scanned. The customer then pays the balance in store and the PayPoint system automatically notifies the retailer that payment has been completed and the goods can be shipped.

UKash also provides a cash payment system, but in a slightly different way to PayPoint’s PayCash. UKash, which has software in more than 40,000 locations in the UK via PayPoint, Payzone and Epay systems, allows customers to go to one of these UKash payment points and purchase a “ready-to-spend PIN”, essentially a generic online voucher, which can then be used to purchase items at participating online sites.

If the total voucher amount is not spent in a single purchase a change receipt is then emailed to the customer with a new PIN for the remainder of
the balance.

The advantage for customers of using what is effectively a cash payment is that it rids them of concerns about entering personal data online and completely protects their financial identity. Online cash payments also  give complete control over spend and build confidence because customers feel they are using “real” money. They also appeal to a younger audience who may not yet be entitled to credit cards and to those who are not eligible for credit. 

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