Register Advertise with usHelp Desk Today's Posts Search

Closed Thread
Thread Tools Search this Thread
Unread 25th Feb 2013, 09:28 AM   #1
Active Warrior
 
Join Date: 2012
Posts: 92
Thanks: 12
Thanked 2 Times in 2 Posts
Default
Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

Hey guys,

Anyone know of any places that allow you to charge consumers and allow them to take the payment via SMS. Ive heard of PIN submit methods, where they put in their phone number and a verification code is texted to them, then they input that into the site and the payment is stacked on their phone bill. Aka, PIN submits.

Ive seen a company charge 30%! + $.075/per transaction.. thats crazy!

Has anyone had any similar experiences or know of any alternative options?

Thanks
soudy is offline  
Unread 25th Feb 2013, 10:45 AM   #2
brickandmobile.com
War Room Member
 
Kevin Z's Avatar
 
Join Date: 2010
Location: Toronto
Posts: 309
Thanks: 60
Thanked 106 Times in 64 Posts
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

SMS was never meant to be a payment option.

If you are looking into mobile payments you should look for NFC solutions.

[
brick&mobile
Click here to start your
Mobile Marketing business
Kevin Z is offline  
Unread 25th Feb 2013, 10:57 AM   #3
Active Warrior
 
Join Date: 2011
Posts: 87
Thanks: 10
Thanked 14 Times in 12 Posts
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

I'm not sure I've ever seen this before. I know pay pal had/has this option but I'm not sure of their fees.

FREE "21 Step Report To Position Yourself As An Expert to Offline Clients"
-------->>>>http://goo.gl/gojkt
TJ Rose is offline  
Unread 25th Feb 2013, 03:56 PM   #4
Warrior Member
War Room Member
 
Join Date: 2013
Posts: 9
Thanks: 3
Thanked 1 Time in 1 Post
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

There are a lot of solutions for payments via SMS and direct carrier billing. I assume that you're talking about payment for a non-card-present transaction? NFC might be a solution for card-present transactions, but not the type of transaction that would typically require premium-rate SMS payment (PRS).

As you already mentioned, the transaction fees are substantial. You'll be lucky if you pay just 30%... it's more likely to be 40+% until you're doing enough volume to have your own premium-rate codes. Until then you'll be paying the carriers (typically 30+%) and an aggregator, and a payment gateway. At volume you can eliminate the payment gateway, but not likely the aggregator.

Different countries and carriers will have different margins. Some are borderline extortionist. Most would be considered outrageously expensive by credit card processing standards. But it's just standard for the industry.

What you give up in significantly higher fees, you can make up for in conversion rates. It's a much lower friction payment process. And it can dramatically improve your conversion rate if done right.

Some resources to check out:

bango.com
text2pay.com
smscoin.com

Somewhere I've got a list of a bunch of alternative payment processors for mobile. If that would be of value, let me know and I'll dig it up.
squark192 is offline  
The Following User Says Thank You to squark192 For This Useful Post:
Unread 25th Feb 2013, 07:35 PM   #5
Active Warrior
 
Join Date: 2012
Location: Makati, Philippines
Posts: 32
Thanks: 0
Thanked 3 Times in 3 Posts
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

Paypal is the best solution for payments. Just use Paypal instead.
leslieyoung is offline  
Unread 26th Feb 2013, 10:35 AM   #6
Active Warrior
 
Join Date: 2012
Posts: 92
Thanks: 12
Thanked 2 Times in 2 Posts
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

Yes but having the ease of payment process with a PIN submit rather than someone ( on their cell phone mind you ) whipping out their credit card for a small service fee my site charges. The original idea was to charge .99/per action* but since the fees are OUTRAGEOUS, Ive had to go back to the drawing board and up that to $3.99 or even 9.99 ( and if this includes monthly rebilling thats better) but now I have to justify the 9.99/MONTH vs the .99/per transaction. but having the ease of processing payments is what im looking for.

Thanks for the info guys, very helpful
soudy is offline  
Unread 11th Jun 2013, 08:38 PM   #7
Active Warrior
 
ballparkbob's Avatar
 
Join Date: 2011
Location: Philly
Posts: 35
Thanks: 1
Thanked 5 Times in 5 Posts
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

My company is involved in premium sms services and quite frankly, premium sms in the USA has never lived up to its potential. There are some other very good billing mechanisms, especially in Canada, that you should consider in addition to premium sms.

ballparkbob is offline  
Unread 12th Jun 2013, 06:07 AM   #8
nrgdesign
 
nrgdesign's Avatar
 
Join Date: 2010
Location: Manila, Philippines
Posts: 33
Thanks: 0
Thanked 1 Time in 1 Post
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

"...$.075/per transaction.. thats crazy!" Really CRAZY!

vGraphic Artist: Reuel Giray a.k.a. "LeD"
eMail: nrgdesign@live.com
Online Portfolio: www.coroflot.com/nrgdesign
Skype: led.freelance -YM id: ledmanila
Linkedin: http://ph.linkedin.com/in/nrgdesign
nrgdesign is offline  
Unread 13th Jun 2013, 12:37 AM   #9
Senior Warrior Member
War Room Member
 
Join Date: 2005
Location: Michigan
Posts: 1,112
Thanks: 13
Thanked 249 Times in 154 Posts
Default
Re: Taking payments via SMS
Share on: 
fb share twitter share gplus share more share

Originally Posted by leslieyoung View Post

Paypal is the best solution for payments. Just use Paypal instead.
Paypal can take payments via SMS but the customer has to send a specific text to a short code.

Information can be found here.

https://www.paypal.com/us/webapps/mp...le/mobile-text

I tried to set up Twilio today so that someone could text a keyword to a Twilio phone number and text back an amount they would like to donate. Everything worked great except for forwarding the text message to the Paypal short code. I soon learned that Twilio does not allow for a text message to be sent to a non-Twilio short code so the app didn't work.
xlfutur1 is offline  
Closed Thread


Bookmarks

Tags
payments, sms, taking


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off




All times are GMT -6. The time now is 08:23 PM.