The New TIP's Blog

Why Pre-Authorized Payments for the New TIP?

The main reason for pre-authorized payments was to see how many TIP subscribers would actually pay for the information they'd been getting for nothing at http://www.eTIP.ca.

To find out required a system that allowed them to tender payments that would not be cashed until I decided there was enough interest in a paid version to make it worthwhile. Monthly pre-authorized payments filled the bill.

This is a system the life insurance companies have been using for ages. The insured signs a form authorizing his bank to withdraw the monthly premium from his account and deposit it in the insurer's bank account.

So subscribers to New TIP would complete the authorization form and send it to me. These did not go to my bank immediately, as I wanted to see how strong the interest was before proceeding.

The downside to this method is that my bank charges me $1 for each monthly transfer of $9!

So, the pre-authorized payment process is no longer offered to would-be subscribers. Instead, there's a less costly process using credit cards (which you can read about at http://www.New-TIP.com/join.html).

However, the PA process was a good way of testing the waters before fully committing to this new venture.

Don

p.s. Check out the new "Survey Freeby" at http://www.eTIP.ca

posted by Don @ 10:02 AM