Converting Customers With TrialPay · through more checkout conversions— ... on the merchant’s business results. ... Offering a wide range of payment options helps reduce the

Converting Customers With TrialPayA New Payment Alternative for Online Merchants

Research Brief

Russ JonesScott LoftesnessGlenbrook Partners

January 2008

Converting Customers With TrialPay

2

Glenbrook has been following TrialPay since we first met CEO and founder Alex Rampell earlier last year. Unlike most of the new payments companies we see, we found TrialPay’s approach quite unique—and were impressed to learn about the real benefits it brings to online merchants.

This Research Brief reviews TrialPay’s value proposition, what we find most intriguing about it, and our recommendations for where the TrialPay solution might best be put to use by online sellers.

TrialPay At a GlanceTrialPay’s goal is to help online merchants achieve higher revenues through more checkout conversions—conversions that, for many merchants, may also yield higher margins on the goods and services being sold.

Although typically categorized as an alternative payment mechanism, TrialPay’s solution is quite different from the other online eCommerce payment alternatives such as Google Checkout, PayPal, and Bill Me Later. It’s really in a different class—instead of providing consumers that are ready to buy with a more secure or more convenient way to pay, TrialPay provides consumers that are hesitant to buy with added incentives to push them into taking action.

TrialPay is an example of a growing number of payment companies that are based primarily on helping to drive increased sales for merchants rather

than simply providing lower cost payment processing.

TrialPay enables this “magic” for merchants and shoppers by bringing together advertisers (who themselves are seeking new customers) with merchants and their shoppers at the precise time that a purchase decision is being considered by the consumer. When it’s successful, as TrialPay says, “shoppers get a free product, advertisers get new customers, and merchants gain new sales.” Everybody wins.

For most online merchants, only a very small percentage of their website visitors actually follow through to order completion. TrialPay helps merchants convert shoppers that are hesitant to buy into revenue-generating customers.

In addition, because many advertisers are prepared to pay handsomely to actually acquire new “high-value” customers, merchants may also be compensated for a successful transaction at a level that’s actually greater than the price for their goods or services as listed on their website.

A Quick ExampleLet’s look at an example of how TrialPay is being used today. One of TrialPay’s merchants is WinZip International, developers of the popular WinZip® compression utility program. Like many software products, an evaluation version

TrialPay is an example

of a growing number

of payment companies

that are based

primarily on helping to

drive increased sales

for merchants


3

of WinZip can be downloaded immediately at no cost—but, of course, the trial version is limited in its capabilities and only works for a short evaluation period. To license the software and unlock its full capabilities, the consumer must purchase a $29.95 license before the end of the evaluation period.

Near the end of that evaluation period, WinZip shows a reminder to the consumer that the evaluation period is just about over. The window includes an offer to the consumer to obtain a full WinZip license for free by using TrialPay. They click on the TrialPay button, provide minimal contact information, review various promotional offers, and then accept an FTD offer to send flowers to their mother for $35.99.

Behind the scenes, TrialPay has dynamically brokered the relationship between WinZip and FTD and manages the whole process including the subsequent payment back to WinZip from FTD for delivering a new customer to FTD. The consumer gets their free WinZip license, FTD gets a new paying customer, and WinZip gets paid for providing the license to the consumer. And the buyer’s mother gets a nice bouquet of flowers!

How TrialPay WorksTrialPay has built a network of over 2,000 advertisers who are interested in

TrialPay because it uses the pay-per-action (PPA) model, where they only pay when they get that most important result: a new customer. For advertisers, TrialPay is a new way to reach the online shopper at the point of sale when they are making purchasing decisions and ready to spend money.

How much will an advertiser pay to acquire a new customer? It depends on the lifetime value of that customer to the advertiser. If each new customer has a lifetime value of $200 to an advertiser, for example, they may be willing to pay $10 to capture that customer. But if the lifetime value is $2,000, they may be willing to spend over $100 to capture the customer. At the very heart of the TrialPay model is the idea that a shopper may very well be worth more to an advertiser (as a new customer) than they are to the merchant.

For consumers, TrialPay’s value proposition is simple and clear—get the goods for free (or at a substantial discount) by simply signing up for an offer from one of TrialPay’s advertisers. For consumers that are hesitant about making the purchase, these special offers sweeten the deal. Instead of buying WinZip for $29.95 they can get a full WinZip license and send flowers to their mother on her birthday for $35.99.

As part of implementing TrialPay, merchants specify the minimum price they’re willing to accept on a

At the very heart of

the TrialPay model

is the idea that a

shopper may very

well be worth more

to an advertiser (as

a new customer)

than they are to the

merchant.

.


4

TrialPay transaction. This minimum can be the same as the price of the goods or services being purchased, or it can be higher or lower. TrialPay’s optimization of the offers presented attempts to maximize the yield to the merchant, a combination of the “right” offers being presented to the shopper (which maximizes the chance of a conversion) and the “right” value of those offers to the merchant (in terms of maximizing the compensation.)

As a result, some merchants may receive more revenue from a successful TrialPay transaction than they would have if the shopper had simply paid directly. For example, a software publisher selling a software license for $30 could receive $40 or $50 or more on a successful TrialPay transaction. It all depends on just how valuable the new customer is to the advertiser. TrialPay believes this is the Holy Grail for merchants: getting higher shopper conversions, more sales, and completing those sales at a higher margin to boot.

The examples discussed so far illustrate how TrialPay works when a shopper buys a second product from an advertiser in order to get the first product for free or at a discount. But TrialPay also works when a shopper agrees to try other products, apply for new accounts, or complete other actions with an advertiser. Instead of sending flowers via FTD in our WinZip example, the shopper could just as easily have applied for a new

Citibank credit card, if that had been one of the offers presented.

Mechanically, TrialPay sits in the middle of this ecosystem and determines the optimal mix of offers, handles the competitive bidding between advertisers, monitors offer acceptance, routes funds back to merchants for accepted offers, and absorbs all risk of fraud. Merchants are paid directly by TrialPay on a monthly basis, not through their existing merchant acquiring relationship. TrialPay provides comprehensive online reporting to merchants of all of their TrialPay activity.

The Merchant StoryOnline merchants spend a lot of time and money pulling consumers through the funnel—from searching on price and availability, to comparing colors and sizes, to reviewing the shopping cart, into the checkout process, and on to the final click on the BUY NOW button. Along the way many potential customers abandon the process. For many merchants, the vast majority of their potential sales simply evaporate—a problem, which if solved, could have a dramatic impact on the merchant’s business results.

The reasons for shopper abandonment are actually quite complex—consumers may simply lose interest, be distracted away, ultimately decide against making the purchase, get


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frustrated with the merchant’s website, checkout process, or available payment options.

There’s no one “silver bullet” that merchants can use to reduce shopper abandonment. Fortunately, online sellers, unlike physical world retailers, can mine an awful lot of useful data logged by their websites and use it to diagnose and fix some of the most obvious abandonment issues. Even if their website is optimized, however, consumer behavior is still a complex issue to understand and additional opportunities to further reduce abandonment likely still remain.

By offering consumers a wide range of payment options, many merchants try to remove any hesitation by consumers to complete their online purchase. Those consumers concerned about entering credit card information online can be enticed by the merchant offering PayPal or Google Checkout as payment options. Consumers that are tapped out on their credit line can be offered Bill Me Later. Similarly, consumers who are shopping in their pajamas away from their wallet can use any of those methods to pay more conveniently than with a credit card.

Offering a wide range of payment options helps reduce the checkout friction and increases the consumer’s willingness to pay—thereby raising the odds of a successful purchase completion.

However, even if the merchant offers a wide range of payment options, some consumers will still decide not to go through with the purchase and abandon. For those consumers, TrialPay provides the merchant with a new alternative—one that reduces the last psychological barrier in the consumer’s mind by offering the consumer a “deal they can’t refuse” and converts that shopper into both a sale for the merchant and a new customer for the TrialPay advertiser.

In this sense, TrialPay is a payment system for consumers that really want the goods, but just can’t bring themselves to pull the trigger and click on the BUY NOW button. It’s also a payment system for merchants that want to monetize every shopper possible (who wouldn’t?), regardless whether the shopper wants to pay directly for their purchases.

Where TrialPay FitsWhile the value proposition is clear and powerful for shoppers and advertisers, TrialPay has been designed first and foremost to address the needs of online merchants. Merchants control when, where, and how TrialPay is offered as a payment alternative. Its suitability and the specific use model varies from merchant to merchant and across merchant categories (e.g., what works best for e-retailers may be different

TrialPay provides

the merchant with a

new alternative—one

that reduces the last

psychological barrier

in the consumer’s

mind by offering the

consumer a “deal

they can’t refuse.”


6

that what works best for digital goods or software merchants). Here are several examples that illustrate the flexibility:

As Payment AlternativeSome merchants may want to make TrialPay available as another payment option in their checkout flow, alongside all of the other tender types they accept—pay with Visa, MasterCard, American Express, or TrialPay. This approach works best for merchants that don’t have a lot of repeat buyers, and want to capture revenue from both customers that are willing to pay and customers that are hesitant to buy.

As Churn Management Tool Merchants that use a subscription model and value long-term relationships with their customers might require initial payment directly and then use TrialPay as part of their churn management strategy. As subscribers fall out of good standing with their subscription (either voluntarily or involuntarily), recurring merchants can use TrialPay to extend the subscription and retain the consumer as an ongoing subscriber.

As Return Buyer Incentive Merchants that have a large base of dormant customers may want to use TrialPay as a click-thru link in an email marketing campaign. There’s something about an immediate “get it free” call to action that can help stimulate sales through that channel.

TrialPay is ideal for software companies selling on the web. In addition to the trial-period opportunity discussed earlier in the WinZip example, where both free and upgrade versions are available, TrialPay can be used to help maximize the upgrade opportunity. TrialPay can be included, for example, in the software’s uninstall screen - providing one last opportunity for the consumer to “get it for free” before uninstalling.

TrialPay can also be used as a loyalty-marketing program where the merchant, as part of order confirmation (on a web page or in an email) offers a “thank you” opportunity to the customer to obtain a discount on future purchases by completing a TrialPay transaction.

It’s also possible for merchants to detect a consumer who has items in their shopping cart but is moving off the merchant’s website and, at that instant, to pop up a “last ditch” TrialPay offer in the consumer’s browser. Again, one more opportunity to swing the consumer over from just a shopper to revenue-producing customer.

In other words, in a lifecycle view of the relationship between a merchant and a customer, TrialPay can help in both converting shoppers into customers earlier as well as extending the relationship beyond when it otherwise might have ended. The lifetime value of the customer to the

In a lifecycle view

of the relationship

between a merchant

and a customer,

TrialPay can help

in both converting

shoppers into

customers earlier as

well as extending the

relationship. beyond

when it otherwise

might have ended.


7

merchant is increased by the effective use of TrialPay.

TrialPay offers another potentially useful benefit to online merchants—a new way to expand their footprint for incremental sales outside the US. Because of concerns about potential fraud, some online merchants specifically limit their sales to their domestic market, where they can obtain assurance of address verification checks on payment cards or accept better accept local tender types. While these merchants want to go global, they are not ready to accept payment and manage fraud in foreign markets.

Many TrialPay advertisers are domestically local in the “foreign” country, and ready to do business online with local tender types. A US merchant might not be ready to accept an order from South America, but there are TrialPay advertisers that are willing to make offers that when accepted result in a new customer for them and incremental revenue for the US merchant. This is a great example of how TrialPay can be used to expand the opportunity for merchants to increase sales.

Today, the TrialPay advertising network spans 25 countries and the system has been localized into 10 languages. Nearly 50% of the transactions are outside the United States.

Retailer Implementation

TrialPay is relatively straightforward to implement, as the checkout process (buyer registration, offer presentation, and offer selection) is handled directly by TrialPay acting as an ASP. Retailers are only required to establish the merchant offer, figure out their fulfillment process, and then link to TrialPay. While not directly in control of the checkout process, merchants are able to extend their branding, pricing, and product description into the TrialPay order pipeline.

Controlling the Merchant OfferAt the most fundamental level, merchants control what the TrialPay offer represents to the buyer. Most TrialPay merchants with an average ticket size less than $50.00 will use TrialPay to provide “free” access to the underlying product or service. Merchants with average tickets over $50.00 will often use TrialPay to provide a discount to the buyer.

In addition, the merchant controls the minimum offer (from an advertiser) it will accept for their goods. This helps TrialPay optimize offers that are presented to the buyer, and guarantees the minimum payout for completed conversions. Merchants can also filter out particular advertisers and offers they do not want their shoppers to receive. This helps eliminate a direct competitor’s ability to poach the merchant’s potential customer.


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Merchant FulfillmentThe second step is to determine the technique the buyer will use as proof they completed a TrialPay offer, and are now ready to claim their free or discounted goods.

The simplest way to fulfill TrialPay purchases is to use any existing coupon or promotion code capabilities to convey TrialPay completion. With this approach, TrialPay simply provides the shopper with a promotional code in a confirmation email once they’ve successfully completed the TrialPay transaction. The consumer then takes that promotional code back to the merchant’s site and completes the sale using the code as payment.

If the merchant doesn’t have a coupon program, TrialPay can generate gift certificates or voucher codes that can be used in the merchant’s own checkout process. Going one step further, software vendors have an option for TrialPay to directly provide shoppers with product serial numbers or activation codes.

Merchant IntegrationWith the merchant offer defined and a fulfillment process designed, the final step is to simply integrate the link to the unique TrialPay offer. Merchants have flexibility here to integrate the TrialPay link into their website, use it in promotional email campaigns, or even embed the link directly in

software screens. Regardless where the link is embedded, when the buyer clicks on the link, they are taken via their Web browser to the merchant’s TrialPay page.

Results to DateWhile TrialPay is relatively new in the marketplace, it has already demonstrated strong customer adoption. In its first twelve months TrialPay built an ecosystem of 2,000 advertisers, 2,400 merchants (growing 10 merchants per day), and 4.5 million shoppers (growing 10,000 new shoppers per day.) Across its network, TrialPay presents an advertising offer to a potential buyer every couple of seconds, and is currently processing 10,000 to 15,000 transactions per day.

Merchants using TrialPay today include such online sites as The New York Times, Broderbund, ZoneAlarm, Skype, American Singles, and The Wall Street Journal. But how merchants are using TrialPay is far more interesting than what merchants are using TrialPay:

TrialPay and the Installed BaseZagat.com, for example, provides annual access to its restaurant review service for $24.95 to subscribers, but only provides limited access to registered users that are sampling the service. Zagat uses TrialPay as the call-to-action in a regular email offer it sends to consumers that have lapsed on their subscription or are sampling

In its first twelve

months TrialPay built

an ecosystem of

2,000 advertisers,

2,400 merchants

(growing 10

merchants per day),

and 4.5 million

shoppers (growing

10,000 new shoppers

per day.)


9

the service, but not yet subscribed. These non-paying customers can use TrialPay to get a year subscription to the premium offering for “free”.

TrialPay and the UpsellMcAfee, the popular virus detection software provider, attempts to upsell upgrades to SiteAdvisor Plus for $19.99 at the point the shopper attempts to buy SiteAdvisor. After the SiteAdvisor is installed and running on the user’s personal computer, McAfee uses TrialPay to offer the same upgrade for “free”.

TrialPay and AbandonmentBoca Java, an online gourmet coffee bean eRetailer, uses TrialPay to combat its shopping cart abandonment problem. When shoppers are in the checkout process, Boca Java will trap any attempt to close the browser window and make one final offer with TrialPay close the sale.

In Glenbrook’s review of these three merchants, we see TrialPay being used to reach a segment of customers that are not being monetized through normal channels—customers that that were paying and now aren’t (Zagat), had a chance to buy but didn’t (McAfee), or were on the verge of buying but decided not to (Boca Java).

Advertisers using TrialPay include Blockbuster, Citibank, Comcast, eBay, Gap, GEICO, Home Depot, Real Networks, Stamps.com, Starbucks, and TiVo.

Glenbrook’s AnalysisTrialPay is a fascinating new Payment method on multiple levels, and one that reflects a growing sophistication in the eCommerce market. We found many striking aspects in our evaluation.

Multi-Party AdoptionNew payment systems always struggle with the chicken-and-egg adoption challenge—the legendary “poultry” problem. In order to get enough buyers, there has to be enough sellers; and in order to get enough sellers there have to be enough buyers. In the case of TrialPay, it’s actually a little more challenging—they must ramp consumers, merchants, and advertisers in order to make the overall value proposition sustainable to all of the stakeholders.

Based on the results to date, it appears the core value proposition is solid with both consumers and advertisers. While merchant adoption has been strong, most of the adoption has been from digital content providers and software providers. We believe the value proposition will also work with hard good providers as well, and expect to see more traditional eRetailers adopt TrialPay in the future.

Checkout FrictionMost of the time, merchants are obsessed with reducing checkout friction. In the case of TrialPay, the


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system actually increases checkout friction. Instead of simply buying the product, the customer must first evaluate an unrelated third-party offer, consummate that offer on the advertiser’s website, return to the original merchant website, and finalize the initial purchase. This is all good.

One of the classic retailing strategies is to maximize profits by offering products at multiple pricing points—most typically an easy-to-buy standard pricing point and a harder-to-buy lower price point. The theory is that customers that are not overly price sensitive will always take the convenient path, and customers that are price sensitive will go to any length (no matter how inconvenient) to receive the lower price. By offering goods at multiple pricing points, retailers are able to maximize their revenue by appealing to different tiers of buyers with prices appropriate to their tier. This is why the storewide sales are always next month, why rebate terms are always hard to fulfill, and why discount outlets are always two-hours away. These merchandising techniques work because of their inconvenience.

TrialPay fits right into this model. As a point-of-sale tender type, TrialPay provides online retailers with a way to offer the same good at multiple price points. In our WinZip example, the easiest way to get the WinZip license is to just buy it. But for those that believe the price is too expensive, TrialPay offers a way to get the license

for free if the buyer is willing to do a secondary transaction with FTD and then return back to the WinZip site.

Economic ModelThe economics associated with a successful TrialPay transaction benefit all three parties involved in the transaction. Price sensitive buyers get a better deal than they would if they were simply paying for the product or service outright. Advertisers are able to reach new customers—but only pay when they actually get a new customer or an incremental sale as a direct result of their advertising offer.

Merchants are the main beneficiaries in the TrialPay ecosystem and are able to monetize potential customers that are unwilling to directly pay the standard rack rate for the product or service. Online publishers have long enjoyed this capability; they are able to derive advertising revenue from readers that browse their site unwilling to subscribe to the premium service.

We believe TrialPay is the first system that brings the same two-tier benefit to eRetailers. There are some other subtleties for online merchants as well. In addition to the incremental sales, TrialPay transactions are immune from the traditional chargeback risk associated with card payments.

And, of course, TrialPay’s own revenues are driven by being the “middleman” in the TrialPay

Merchants are the

main beneficiaries

in the TrialPay

ecosystem and are

able to monetize

potential customers

that are unwilling

to directly pay the

standard rack rate

for the product or

service.


11

ecosystem. We believe their revenue model is most likely transaction based, and directly aligned with the interest of the other three stakeholders.

OptimizationTrialPay does more than just match up potential advertisers with potential buyers. The company uses sophisticated optimization algorithms in an attempt to maximize the chances that the right offers will be presented to the right buyer at the right point in time. The net result for shoppers is that TrialPay is able to deliver advertising offers that are highly relevant to the shopper. The net result for merchants is a higher-than-expected conversion rate that helps indirectly monetize customers that would otherwise generate no sales revenue.

To pull this off, TrialPay takes into consider the minimum offer set by the merchant, the originating merchant category, historical data on which offers are most compelling for that particular transaction, and dozens of other passive clues that can be used to differentiate one shopper from another. These factors, and the underlying optimization algorithms themselves, are the secret sauce that powers TrialPay in the marketplace.

Structured SimplicitySophisticated merchants have long been able to develop relationship incentives and relationship rewards. Years ago you could open up a new

savings account and get a free toaster. Today, you can buy a RAID disk drive and get a free iPod Shuffle. The offers may change with the times, but the concept itself is timeless.

The interesting thing to us is how TrialPay has taken this basic retailing concept and reinvented it for online merchants. Merchants no longer need to have an expensive business development staff that cooks up and negotiates a handful of special offers.

By incorporating TrialPay into their merchandising strategy, online merchants are able to tap into a sea of buyer incentives—not just special offers from three partners, but special offers from thousands of advertisers. And instead of one-size-fits-all, the offers are optimized on a buyer-by-buyer basis in order to produce the best results for the merchant.

Final ThoughtsAs we’ve explored TrialPay over the last several months, and discussed the company with other payments professionals, one question keeps coming up over and over again. Other than its name, is TrialPay really a new alternative payment system? This is a fair question.

In the TrialPay transaction model, the buyer doesn’t directly pay the seller. But so what—many other payment systems have the buyer directing funds to an intermediary, which then relays the funds on to the seller. This question is a bit nonsensical in our

The net result for

merchants is a

higher-than-expected

conversion rate

that helps indirectly

monetize customers

that would otherwise

generate no sales

revenue.


12

opinion; TrialPay facilitates millions of dollars a day in online sales.

More interesting in our mind is how TrialPay opens up the traditional business model a bit and provides an online merchant with more ways to monetize customers—before a potential purchase when they’re still kicking the tires, at the point of sale when they’re ready to buy, and after the sale is long complete and they haven’t returned to the merchant site in months. In this sense, TrialPay fits much better into the customer

lifecycle model than it does against the traditional checkout process.

TrialPay is also directly tracking the growth of one of the biggest trends in online payments today—the blurring of payments and advertising. Our merchant clients care far more about growing their top-line revenue with payment innovation than they care about reducing their payments acceptance cost by a couple of basis points. We expect to see many of them evaluate TrialPay for exactly this reason.


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About Russ Jones

Russ Jones is a partner at Glenbrook with over 25 years

of experience as an executive, analyst and consultant.

Russ directs Glenbrook’s research efforts and brings

a strong background in strategy development, market

development, and product management.

As an early thought leader in business use of the

Internet, Russ pioneered many of the online marketing

techniques now used throughout the industry. He

described the lessons learned from this experience in

The Internet Strategy Handbook: Lessons from the

New Business Frontier. Russ is also the co-author of

Managing Internet Information Services, which was

published in 1994 by O’Reilly & Associates. This first-

of-its-kind book describes use of the Internet from a

content provider’s point-of-view.

Russ has lectured throughout the world on electronic

commerce technologies, online marketing techniques,

and Internet business models. Earlier in his career, Russ

served as director of emerging technologies for Digital

Equipments’s corporate research group.

Contact: [email protected] | +1 (650) 776 6886

About Scott Loftesness

With more than 30 years’ experience in information

technology—as a technologist, senior executive, board

member, venture investor, consultant, advisor, and

mentor—Scott brings seasoned judgment and a unique

business perspective to his work with Glenbrook.

Earlier, Scott was group executive vice president at

First Data Merchant Services. Scott also was group

executive vice president at Visa International, where he

led the development of Visa’s global payment systems

strategies, including Visa’s research and development

initiatives related to card payments, Internet payments

and advanced card technologies. Scott began his career

as a systems engineer with IBM where he held a series

of technical management and product planning positions

over the course of seventeen years.

In addition to his work at Glenbrook as a consultant,

Scott is the Partner in Charge of Glenbrook’s online

web services serving payments professionals: Payments

News and Payments Jobs.

Contact: [email protected] | +1 (650) 465 3421


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About Glenbrook Partners

Trusted relationships. Deep experience. Unusual insights.

Out-of-the-box thinking.

Founded in 2001, Glenbrook is a unique payments

consulting and research firm that brings to our financial

services and financial technology clients the unique

combination of our specialized skills in payments,

many years of hands-on experience in the field, and our

network of professional relationships.

Each team member at Glenbrook is both a consultant

and an analyst with unique insights and knowledge of

financial services businesses and enabling technologies.

As analysts, we track a number of related markets

to assess trends, surface opportunities, and identify

threats to our clients in the financial services industry.

As consultants, we focus our knowledge and real-

world experience on your specific needs, offering

recommendations that reflect your situation.

We have senior-level experience with some of the top

firms in the financial services and technology industries,

including Accenture, Amazon.com, Citibank, Digital

Equipment, First Data, IBM, McKinsey, and Visa. We

have worked extensively with startups and spinoffs,

helping them get to market quickly and penetrate the

financial services marketplace. Our strong relationships

© Glenbrook Partners, 2008. All rights reserved. WinZip is a registered trademark of WinZip International LLC. All other company and product names mentioned herein are the trademarks or registered trademarks of their respective owners. Information in this research brief is based on best available resources. It is distributed on an as-is basis, without warranty. While every precaution has been taken in the preparation of this report, Glenbrook Partners shall have no liability to any person or entity with respect to any loss or damage caused or alleged to be caused directly or indirectly by the advice or recommendations contained in this report. Opinions reflect judgment at the time and are subject to change. All citations must be accurate, quoted verbatim, or duplicated without being manipulated, adapted, paraphrased, or summarized. All citations must be sourced “Glenbrook Partners, 2008.”

with senior management in financial services, Internet

infrastructure, and security firms allows us to tap non-

public sources of information to form a more complete

assessment.

Through consulting services, the firm helps clients

with strategy definition, product development, and the

application of technology to solve leading edge problems

in the financial services industry. We offer a broad

industry perspective that reflects opportunity, urgency,

competitive pressures, and the likelihood of success.

Our background, experience, and skill coupled with

our extensive industry contacts enable Glenbrook to

identify market opportunities, competitive threats, and

industry developments that may not be apparent to

most observers. We are uniquely positioned to help our

clients understand and take action on opportunities in

the financial services industry.

More Information: www.glenbrook.com

Payments News: www.paymentsnews.com

Payment Jobs: www.paymentsjobs.com

Documents

Converting Customers With TrialPay · through more checkout conversions— ... on the merchant’s business results. ... Offering a wide range of payment options helps reduce the