Anyone do 7 or 30 Day "Holds"?

The Oilman · 10-23-2009, 11:56 PM

Does anyone do the 7 or 30 day "holds?"

This is where you give a free trial for an amount of time and after X amount of days the CC is charged.

If you have, I'd like to talk to you.

Is it a merchant account nightmare?

TommyBussey · 10-24-2009, 12:03 AM

I know that it is pretty easy to do using PayPal. In my opinion anything to do with merchant accounts is a nightmare! haha

Anyways, I've used this method of offering a free 7-day trial and then billing on the 8th day and everything worked perfectly (but that was with PayPal).

I know that you can integrate PayPal with merchant accounts where PayPal will actually serve as the gateway. This link may be helpful.

The Oilman · 10-24-2009, 12:15 AM

Thanks pal. Did it help conversions? You related to Gary Bussey? Oh wait, that is Busey.

The Oilman · 10-24-2009, 02:46 PM

Anyone else do this kind of stuff?

Ken Leatherman · 10-24-2009, 03:17 PM

I have used this on several different occasions and not a lick of trouble using PayPal. I don't remember if it increased conversions or not, but mine was for $7.77.

I'm thinking it might would work better with a higher price point. But let's face it if you give them value the majority will stick around anyway.

I can't give you any info on how it would work with a merchant account. Sorry.

Ken Leatherman
The Old Geezer

seasoned · 10-24-2009, 05:43 PM

You can't LITERALLY do it with paypal. The best you can do with paypal is wait 7 days, and charge. GRANTED, in a perfect world, it LOOKS the same, but it ISN'T!

A TRUE hold would be an auth. That means that, for a time, it would be considered a LEGITIMATE charge. You have ALLOCATED(held) the funds, but the customer won't be billed for it, and it won't generally show up. Later, you can do a capture, and get the funds.

Outside of a person that doesn't want the extra interest, etc.... Logically it wouldn't help conversions. But WHO KNOWS? I think this is a throw back to the hold of a check for a period of time. THEY get the float and, if they aren't happy, they get the check back. In a perfect world, that is easier for everyone. Of course, the merchant assumes the risk! Then again, if paypal waits to charge(as opposed to auth), HOW can you guarantee the customer won't simply close all the accounts? With an auth, the credit card company would at least WAIT, since an auth is basically THEIR guarantee that the money is there!

Steve

The Oilman · 10-24-2009, 08:58 PM

I will be doing it with a merchant account.

It just minimizes the risk -- the person doesnt' have to have any charges.

And yes, it does come from Gary Halbert with the actual check thing he pulled off years ago.

I think it will increase conversions.......

10-23-2009, 11:56 PM	#1
The Oilman Drinking Milkshakes War Room Member Join Date: Oct 2008 Location: The Wild West of the Internet Posts: 602 Thanks: 5 Thanked 13 Times in 8 Posts	Anyone do 7 or 30 Day "Holds"? Does anyone do the 7 or 30 day "holds?" This is where you give a free trial for an amount of time and after X amount of days the CC is charged. If you have, I'd like to talk to you. Is it a merchant account nightmare?

10-24-2009, 12:03 AM	#2
TommyBussey HyperActive Warrior War Room Member Join Date: Oct 2009 Location: Palm Beach, FL Posts: 291 Thanks: 79 Thanked 63 Times in 40 Posts Social Networking Contact Info	Re: Anyone do 7 or 30 Day "Holds"? I know that it is pretty easy to do using PayPal. In my opinion anything to do with merchant accounts is a nightmare! haha Anyways, I've used this method of offering a free 7-day trial and then billing on the 8th day and everything worked perfectly (but that was with PayPal). I know that you can integrate PayPal with merchant accounts where PayPal will actually serve as the gateway. This link may be helpful.

10-24-2009, 12:15 AM	#3
The Oilman Drinking Milkshakes War Room Member Join Date: Oct 2008 Location: The Wild West of the Internet Posts: 602 Thanks: 5 Thanked 13 Times in 8 Posts	Re: Anyone do 7 or 30 Day "Holds"? Thanks pal. Did it help conversions? You related to Gary Bussey? Oh wait, that is Busey.

10-24-2009, 02:46 PM	#4
The Oilman Drinking Milkshakes War Room Member Join Date: Oct 2008 Location: The Wild West of the Internet Posts: 602 Thanks: 5 Thanked 13 Times in 8 Posts	Re: Anyone do 7 or 30 Day "Holds"? Anyone else do this kind of stuff?

10-24-2009, 03:17 PM	#5
Ken Leatherman The Old Geezer War Room Member Join Date: Sep 2005 Location: , , USA. Posts: 2,257 Thanks: 612 Thanked 641 Times in 240 Posts Contact Info	Re: Anyone do 7 or 30 Day "Holds"? I have used this on several different occasions and not a lick of trouble using PayPal. I don't remember if it increased conversions or not, but mine was for $7.77. I'm thinking it might would work better with a higher price point. But let's face it if you give them value the majority will stick around anyway. I can't give you any info on how it would work with a merchant account. Sorry. Ken Leatherman The Old Geezer
	Native English PLR 1 Article A Day Original Content Link Wheels

10-24-2009, 05:43 PM	#6
seasoned Senior Warrior Member War Room Member Join Date: Jan 2003 Location: , , USA. Posts: 11,102 Thanks: 1,444 Thanked 742 Times in 645 Posts	Re: Anyone do 7 or 30 Day "Holds"? You can't LITERALLY do it with paypal. The best you can do with paypal is wait 7 days, and charge. GRANTED, in a perfect world, it LOOKS the same, but it ISN'T! A TRUE hold would be an auth. That means that, for a time, it would be considered a LEGITIMATE charge. You have ALLOCATED(held) the funds, but the customer won't be billed for it, and it won't generally show up. Later, you can do a capture, and get the funds. Outside of a person that doesn't want the extra interest, etc.... Logically it wouldn't help conversions. But WHO KNOWS? I think this is a throw back to the hold of a check for a period of time. THEY get the float and, if they aren't happy, they get the check back. In a perfect world, that is easier for everyone. Of course, the merchant assumes the risk! Then again, if paypal waits to charge(as opposed to auth), HOW can you guarantee the customer won't simply close all the accounts? With an auth, the credit card company would at least WAIT, since an auth is basically THEIR guarantee that the money is there! Steve

10-24-2009, 08:58 PM	#7
The Oilman Drinking Milkshakes War Room Member Join Date: Oct 2008 Location: The Wild West of the Internet Posts: 602 Thanks: 5 Thanked 13 Times in 8 Posts	Re: Anyone do 7 or 30 Day "Holds"? I will be doing it with a merchant account. It just minimizes the risk -- the person doesnt' have to have any charges. And yes, it does come from Gary Halbert with the actual check thing he pulled off years ago. I think it will increase conversions.......