CLEVELAND — Third-party processor NetCash has introduced CashCading, allowing customers who have had their credit cards declined the option of paying with cash at stores worldwide.
NetCash says it's an industry first, perhaps a "game changer," and that customers through geo-locating have more than 700,000 locations to make payments.
"It’s similar to cascading," said Peter Kusner, president of NetCash."If a credit card transaction is declined, the customer receives a popup asking if he would like to pay for this transaction using cash. Upon clicking 'yes,' the customer is issued a payment slip and using geo-location the customer is shown the three closest locations he can take the payment slip into pay. Immediately upon payment, access to the website is granted.
Kusner described CashCading as a "game changer in the adult business."
"With credit card declines rising, merchants are looking for ways to increase conversions and add incremental sales," Kusner said. "This does just that. There’s nothing to lose for a merchant to throw this solution into their cascade and start reaping the extra sales immediately.”
There’s no need for merchants to change their primary biller, Kusner said, and it is also available through NATS and MPA3. Rates are the same as credit card processing fees but without the risk of chargebacks.
NetCash has been processing in the adult market for seven years and is a payment option for more than 5,000 adult websites.