How the Credit Card Bill will Impact eCommerce?
eBillme and Forrester Research
On May 22, 2009, President Obama signed the Credit Cardholders’ Bill of Rights Act (HR 627). This new legislation, part of the Truth in Lending Act, will have the following impact on retailer’s websites:
- Reduced sales from credit instruments
- Reduction in Average Order Values as overall spending on credit shrinks
- Inability to sell to those under 21 years old
While this bill is designed to help consumers in debt, it impacts the ability for consumers to acquire credit and shop online. Find out what retailers need to implement at the checkout, to prepare for the legislation and payment preferences. This legislation will come into effect in February 2010, is your website ready?
Learn more with the eBillme and Forrester Research webinar.