Advance your credit union payment processing strategy today!
These days, consumers have more choices than ever before when it comes to financial service providers. That’s why a successful digital strategy is critical if you want to rise above the competition during this pandemic.
By helping consumers recognize the benefits of choosing your organization, you can encourage them to register for your services. However, credit unions find themselves scrambling when setting up new systems to replace outdated forms of payment. Too many businesses have been operating in the past and are suffering because of it.
While banks and large financial institutions already have many digital tools at their disposal, credit unions are lagging. As a result, they are losing out to larger financial organizations, even when offering better value for members. Many potential members are not even aware that credit unions provide many of the same services as banks. Providers of card services for credit unions now offer options, such as online and mobile payments. Upgrading your payment system during this critical time should be top-of-mind.
Credit Union Payment Processing: The Problem
There is still a perception among the public that credit unions are old-fashioned and offer limited facilities. This is no longer true. Most credit unions are now offering a range of excellent services to members. BillingTree works with many credit unions to bring members various digital solutions that keep members and their financial information safe.
The problem is that the public is unaware of this. Better marketing is, therefore, essential. Consumers need to know that credit unions offer online services and the option to access accounts through mobile devices. This is where effective marketing comes into play.
When customers discover that credit unions have an online and mobile presence, member numbers increase. Not only that, but costs are significantly reduced. Fewer members will require in-person interactions with employees to get basic tasks done. They will also enjoy a better user experience, which, in turn, boosts the reputation of your organization.
Credit Union Payment Processing: The Solution
The best providers of card services for credit unions give members more options for making payments. With online payment portals, members can make their payments via their methods of choice. They can also pay at a time and in a place to suit them. They can even pay from a mobile device if they prefer. BillingTree tailors its payment solutions for credit unions specifically to meet the COVID-friendly needs of these financial organizations, offering the following contactless solutions:
By giving members more flexibility, these payment solutions can improve the user experience. As a result, the reputation of the credit union increases, and more members sign up. Yet, while these services are highly beneficial, the key to benefiting from them is letting the public know they exist. Therefore, it is vital to highlight those benefits to both existing and potential new members.
Many changes are happening across all industries, but it’s safe to say that we are shifting gears toward safer, more digital means of transactions. That means you need to start implementing these digital strategies before your competition.
BillingTree makes setting up a digital payments system a fast and straightforward process. Your members can start making payments. Contact us today to get started.