Merchants
Merchants benefit from connecting to ClearPurchase,
and is easy to install into the merchant’s online shopping cart system.
No Fraud: 5% online savings
ClearPurchase guarantees no fraud:
the merchant will not be held liable for any fraud relating to a customer claiming they were not the buyer of goods/services.
An approved transaction means they will get paid for the goods and services.
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Fraud:
On average, fraud is about 1% of all online transactions in the US.
However, for smaller merchants, especially those with higher priced items, this number can be as high as 10% to 20%, driving many to abandon online sales entirely.
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Fraud Resolution:
Merchants spend considerable time and money dealing with fraud when it happens.
Javelin Strategy & Research for LexisNexis estimates this cost to the merchant to be about $233 for every $100 of fraud.
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Fraud Prevention:
As ClearPurchase guarantees no fraud, there is no need for the merchant to spend time and money preventing fraud.
Fraud Prevention programs cost the merchant on aversge 0.5% per transaction.
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Invalid Declines:
Financial Institutions have fraud prevention processes that decline transactions that they suspect are fraudulent.
Some of these transactions should have been approved, resluting in lost sales for the merchant.
It is estimated this represents about 1.6% of all transactions.
This does not happen with ClearPurchase.
Combined, these account for at least a 5% cost of fraud for online transactions.
Data Security Savings
Merchants save money as there is no need to request, store and secure personal financial information.
This can be a huge expense for merchants if done properly.
This is not necessary with ClearPurchase as there is no personal financial information to store and retain.
Average Transaction Fee of 1.35%
Merchants benefit from a lower total cost of online and in-store mobile transaction.
This is the total cost - there is no connection fee, statement fee, or any other fee.
Micro-Payments
Merchants benefit from a lower minimum transaction fee than other payment systems, allowing greater use of micro-payments.
ClearPurchase charges a minimum transaction fee of 5¢.
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