PREMIUM RATE SERVICES
Premium rate services (PRS) are goods and services that you can buy via your landline, mobile phone, the internet, interactive digital TV or fax. Our next generation billing service enables easy and safe payments for goods and services using the customer’s mobile phone.
No credit card, cash or bank account is needed, just a mobile phone number.
This is a direct carrier for mobile billing where our clients can instantly charge varying amounts directly from the customer’s mobile phone bill.
Our premium rate service systems run under the moniker 2Bill, a nationally known and respected brand that can be found on many of Ireland’s biggest websites.
2Bill offers four simple ways to charge goods directly to a customer’s mobile phone bill:
- Texting: texting a shortcode advertised alongside a product or service
- Website: entering a mobile phone number on a website
- In-app: clicking in-app advertisements
- IVR: calling an IVR Autovocal system which brings the customer through the payment process
“We see 2Bill as offering an additional payment channel that is fast and efficient for remote payments. This comes at a time when mobile payments are expected to average 42pc annual growth between 2020 and 2025, increasing to a global value of US$617bn with 572m users.”
Jim Moore, Co-Founder
Studies have shown that ease of use and choice drives volume, and 2Bill fits exactly at the centre of both. For the customer, it is functionally identical to any other payment method such as debit or credit card, however the charge is made to their mobile phone’s credit or monthly bill directly rather than via their bank account.
2Bill helps cater for the large percentage of people in Ireland who currently don’t own a credit card but want to make purchases and transactions online. It’s hassle free and skips the need to fill out time consuming forms online.
PRS and the Opportunities they Present
Premium rate phone services offers a faster, more secure way to pay for purchases in seconds.
The mobile billing industry standard has a 60-70% conversion rate on transactions completed. The conversion rate for credit card usage for virtual goods is much lower, around 5-15% depending no the goods in question and the territory. Offering 2Bill to your customers can therefore significantly increase your sales.