One of the most important and popular WebMoney features is the ability to conduct credit transactions such as financing your customers, and using credit to pay for products and services. The system automatically keeps record of the financed amounts, financing period, payment history, and monitors timely repayment of credits.
Please note that WebMoney itself does not finance anyone. But what it does offer is a powerful and flexible platform to conduct various types of credit transactions. The ability to offer credit to purchase products and services is an exclusive opportunity available to WebMoney members, which greatly simplifies establishing trustworthy business relationships online. Credit services provide e-commerce businesses with several advantages, such as:
Expanding the customer base
Offering customer financing allows e-commerce businesses to significantly expand their customer base by attracting Internet users who have yet to try online shopping, and will be interested in using credit to do so.
Transitioning to offering paid services
Customer financing can become a key transition instrument for an online business that started out offering its services for free, but is now facing the necessity of making the enterprise commercially viable. E-businesses that are charging for their services right from the start, risk being ignored by the online public since only a certain percentage of it has already been exposed to online payment systems. This is where offering financing and credit services helps to solve this problem at the right time and place. By offering the customers the ability to “buy now, pay later”, an e-business expands its market to all interested customers regardless of their current cash resources.
Establishing new markets
Offering credit allows many new online services and products that were affordable only to a limited group of customers to become commercially marketable to a wider audience. This gives new products a real chance to form a market by offering customers an accessible way to pay for them.
Overcoming the distrust barrier
Many potential customers pass through online stores only to browse the catalogs without buying anything. They are not assured that by paying online they will receive the goods ordered. Financing helps to overcome such prejudice against online shopping. Once a customer is satisfied with first experience, most likely he or she will be glad to re-pay the credit, and become a regular online consumer.
An opportunity to retain a customer
Financing is one of the key means to retain a customer right at the time when he or she has shown interest in your product or service. If a customer needs time to deposit funds into a purse, then it is more than likely that during that time he or she will change the mind, find a lower-priced competitive product, or simply forget your site’s URL. It is important not to lose potential customers even if they do not have cash to make the purchase immediately by offering them financing for the products or services on the spot. The rest will be taken care of by WebMoney who will keep reminding customers of their credit obligations.
Establishing positive business image
By financing its customers, an e-business shows them trust as well as underscores own stability and trustworthiness. We all know that fly-by-night operations would never offer credit to anyone. The WebMoney credit system is used only by the most reputable and stable businesses.
For customers themselves, the WM credit services are a fast and easy method of shopping online with an opportunity to pay for purchases at a convenient time frame. The WM credit system also protects e-customers from fraud by offering a protected transaction feature.
