With the deal, the companies anticipate that merchants will see a 5 to 15 percent increase in sales volume when the prepaid phone cards are added as a payment option for online merchants.
Terms of the agreement were not disclosed.
“We leverage the largest and most successful micropayment system – the telephone network, which has helped process countless microtransactions globally for years,” DuoCash CEO Victor Nappe said. “The micropayment functionality that [we] maintain is truly the best available — it has been around for decades.
The DuoCash.net network enables stored-dollar value for phone cards from GTS Prepaid, ePins, IDT, Auris and NetworkIP, among others.
The patented DuoCash payment method should be available through iBill within the next two months.
The agreement, announced last week, provides Deerfield Beach, Fla.-based iBill exclusive use of the DuoCash network to the online entertainment market, and Master Merchant status in all markets.
Ft. Lauderdale, Fla.-based DuoCash is privately held and has been in business for five years.
IBill has recently renewed its efforts to retain and find more adult business. The online adult payment processor rolled out a number of new services last month designed to ramp up its business.
The 8-year-old company recently rolled out a phone transaction processing platform called WebPhone that gives consumers the ability to purchase monthly recurring subscriptions using their telephone.
“IBill has redoubled its investment resources and continues to execute a plan to deliver the most competitive and functional services to our customers,” iBill spokeswoman Cathy Beardsley said.
The company also revamped its commerce management interface, allowing merchants to use a single password for all iBill applications instead of several passwords that are application specific.
Web merchants can now configure their account to receive an electronic posting to their own internal reporting system, notifying them of a consumer sign-up, cancellation, refund, revoke, chargeback or re-bill.
IBill also is streamlining the current sign-up process for participants in its RevShare affiliate management program. The enhanced program offers single payouts to RevSharers for all sites to which they drive traffic, as well as wire payments.
Nearly 78 percent of iBill’s revenues are from adult entertainment content. In 2003, iBill averaged 1.2 million transactions per month and completed approximately $330 million in gross transactions.
In July, Care Concepts I Inc. agreed to acquire Media Billing LLC and Internet Billing Co., collectively known as iBill, from Penthouse International for $55 million in an all-stock deal.
The company, according to iBill's Mark Smith, is continuing to evolve beyond payment processing.
"It's something we're excited about," Smith said. "While we are going back to our core competancy [with adult], we're also looking at different business models, particularly with the growth of broadband.
"We’re going to be in a lot of spaces, and at the end of the day we're going to be known for more than a payment processor," he said.
