It is said that necessity is the mother of invention. Companies needed to have a more reliable and secure method of accepting payments from customers. This led to the development of solutions that make it easy and convenient for customers to make payments.
There’s A Lot Of Ways To Pay Bills
It’s becoming difficult nowadays not to pay your bills considering how many payment methods are out there. Here’s just a few.
A recent survey noted that 28% of mobile phone users had made a mobile payment in the past year. However, it’s a 127% increase from the number of users that have made such a payment just five years ago; that number continues to grow.
Customers benefit because they can pay their bill without waiting in line, running to the post office or wondering if their check got lost in the mail. Best of all payments are securely handled in a PCI compliant environment. Best of all Compass Pay doesn’t require a smartphone. Payments can be made from any mobile phone or even a landline. With Compass Pay, customers can have the ability to pay either by phone call or by text.
Did you send customers a reminder?
Want to curb a customer’s habit of making late payments? Outbound notifications allow customers to receive a reminder that a payment is due soon and minimizes the chances of late payments occurring. The Seventh Annual Billing Household Survey from Fiserv recently showed that 66 million online households are interested receiving such notifications, and 77% percent of respondents interested in receiving alerts believe that it would improve their overall customer satisfaction.
Businesses benefit because an IVR phone payment solution allows payments to be verified within minutes, rather than within days. Finally, companies can help by enabling staff members to be dedicated to other tasks. IVR payment solutions also benefit businesses by allowing the window for payments to be 24/7. When a customer can make a quick payment without even having to speak with a customer service agent, this will boost mobile payments made overall.
A pay by phone system, however, is more than just a convenient bill pay method. It’s an innovation that allows your company’s goods and services to be paid for within a few simple steps. Introducing new, on-the-go ways to pay is an absolute necessity for every business.
Take Taxify as an example. Taxify, an Estonia-based company, recently released an app that allows customers to order and pay for a taxi within a single user interface. As such, it became the first app in the world that allows for the mobile billing of a taxi ride. This means that Taxify customers can use their phone to call a cab and pay for their cab ride.
Taxify customers still have the option to pay with cash or credit card. However, as proof of this “new ways to pay” trend, hundreds of people took advantage of the new payment option on the weekend it debuted.
How Will Your Customers Pay?
It’s easy to see the benefits of a pay by phone system, such as Compass Pay. Our system allows your customers to make a payment and check their balance. We also offer the option to send text notifications to notify your customers of special offers or remind them a payment is due.