With integrated online payments, businesses can finally offer their customers more ways to make and manage payments instantly. It’s faster, safer, and more convenient than ever before.
It’s proven that companies experience an increase in sales volume when they set up online functionality for the first time. It’s like going from a horse and carriage to a Ferrari; you’re going to get to your destination much faster. Depending on the quality of the provider you choose, you can also see a plethora of other benefits, including more engaged users, higher on-time payment rates, faster payments, improved security, and the list goes on.
So how exactly do payment providers help increase and improve payments?
Some customers want to pay by card, while others find it easier to log in and manage their payments via an online portal. By offering people more options, you’re giving them more opportunities to have a better experience with your business. Over time, this builds trust and better brand recognition. Setting your business apart is the first step toward increasing your target audience. That’s why first impressions are critical for success down the road. You need to start strong by offering more.
Manually entering a customer’s card information, EVERY TIME is the worst. That’s why companies like Amazon allow you to create accounts, so you can quickly buy something with the click of a button. With an integrated payments system, all your processes are automated, which saves time, money, and resources. Now, you can give your customers or patients the same level of convenience, all while reducing administrative costs.
Remember the time . . . well, now you don’t have to. If you want reliable on-time payments from your customers, you need a way to send reminders that don’t end up in spam folders or take weeks to get to a physical mailbox. Tools like SMS payments and IVR payments can help ease the burden on your staff, which has to call customers that forget to make a payment. Additionally, customers will receive a confirmation as soon as they make their payment, ensuring that their finances are in order.
This is probably one of the biggest reasons why companies choose integrated online payments. When a company like FICO is handling sensitive financial information from their customers, they have to guarantee that all of its processes are secure. BillingTree’s Payrazr solution is PCI, SSAE-16 & HIPAA Certified, and fully compliant, so businesses don’t have to worry about hacking or government compliance.
Many collection agencies will keep their files and essential records in different places. They may use spreadsheets, paper invoices, emails, text messages, and electronic files to store their information. An integrated online payments system keeps all the crucial documents and data, including invoices, payment history, and customer accounts, all in one place. You can also use your historical data to make your business more efficient with comprehensive custom reporting tools as well.
Businesses need payment processing solutions that are modern, effortless, and convenient for customers. Integrated payment systems, like Payrazr’s payment portal, change the payment game, and you reap all the benefits. When you give your customers more options that are faster, more secure, and more convenient, you shouldn’t be surprised that the result is an increase in both on-time payments and your customer base.