Podcast 1: B2B E-Check Pay Hello and Welcome to BILLION DOLLAR IDEAS LADY PODCAST Every Tuesday, I will introduce a new business idea that can generate billions of dollars per year. Stay tuned for revolutionary ideas for the next 52 weeks! Today’s idea is: Business Check Pay Most businesses accept Credit Cards. These are good for small amounts. However SME or even large corporations with big accounts, still go the normal route of receiving a check in the mail. This is because, although E-Check offers quick payment alongside credit cards, they are charging nearly the same amount of fees and percentage of sale as that of credit cards. If a wholesaler is working on 10-15% margin of profit and is selling $10K-$20K per transaction, that wholesaler will prefer to receive a check in the mail rather than pay $7.50 per e-check and 2.78% of $10K which is $278! If a company like American Express or Paypal would introduce E-Check Pay where the e-checks are charged a flat fee depending upon the amount, it will change the way a lot of businesses do business. Eg: Amounts between $100-$1,000 a fee of $2.50; $1,000-$10,000 a flat fee of $5. Advantage: No longer people will have to ship with COD charges (UPS charges $12.50 per COD package). The payment transaction will be as instant as credit card transaction. No longer people will have to check mail and then stand in bank lines to deposit the money. A lot of businesses would easily sign up for this service immediately. Eg: If 1 Billion transactions occur per month via E-Check Pay, then Expected Profit is: 65% of 1 Billion transactions under $1,000 : $2.50 x 650 Million = $1.625B 30% of 1 Billion transactions under $10,000: $5 x 300 Million = $1.500 B 5% of 1 Billion transactions under $20,000: $10 x 5 Million = $1 B So, the total revenue with only 1 Billion transactions is over 3.25 billion dollars of fees that the industry can earn. Offcourse, this concept is copyrighted. It will be my pleasure to sell the Billion Dollar Idea to a company ready to implement it. All who have liked this idea, do give this podcast 5 stars now so you can hear more great ideas every Tuesday. Next Week’s idea will be for a Facebook App, which I wrote for Town Hall Meeting for Mark Zuckerburg which got over 57,600 likes by May 14! So stay tuned for another great Episode from Billion Dollar Ideas Lady on Tuesday or log on to BillionDollarIdeasLady.com. Thank You for listening and have a Magical & Blessed Day today!