Nobody looks forward to a hospital visit, but collecting payments via SMS can make a patient’s hospital experience better. Paying by text means avoiding the crowded billing office, and  patients leaving the hospital, doctor’s office, etc. as soon as possible (instead of waiting to make a payment). 

SMS stands for Short Messaging Service, and centers around cell phone texting. SMS Payment Solutions allow businesses to text customers with payment reminders/confirmation and accept payment via the cell phone.

Interactive Voice Recognition (IVR) is computer technology that offers automated secure payment by phone by replacing human interaction within call centers. A phone system offers voice prompts that route calls to an IVR system instead of utilizing live customer service operators. An IVR system can handle huge loads of calls that would otherwise require substantial man hours.

SMS payments, or “Pay by Text payments”,  allow customers to pay for services or goods via a mobile phone text message. The customer typically receives a text prompting them to initiate payment via a website interface or additional text messaging. Almost any business that takes payments for goods or services can realize operational costs savings and an uptick in collected revenues by choosing to accept payments by text message.

The 2021 payments landscape demands sophisticated check acceptance risk mitigation tools. Businesses now have a new tool for collecting customer payments. SMS Payment Solutions allow businesses to:

When rent payments come due, you don’t want your property management staff overwhelmed! If your property management complex is closed on the weekends, clerks are likely to be overwhelmed as soon as they open on the next available business day. Likewise, today’s customers expect to be able to make payments whenever, wherever.

Today’s consumer expects service easily and instantly, with practically 80% of consumers expecting national brand service leves from their local service provider counterparts. Pay by Text solutions, or Short messaging service (SMS) solutions, are a great way for your Utility Company to offer a simple, effective customer service option.

Despite the convenience of online payments, 62% of utility customers claim to prefer making a payment without logging into a system. Likewise, more than ¾ of general consumers have claimed to make at least one payment per month via the phone. 

78% of consumers have reported making at least one payment per month via phone payments, with 60% preferring our phones to make payments. This means storage facilities are in a prime position to utilize an IVR Payments system in 2020.

The waste management sphere is seeing a major increase in the volume of electronic payments. More than 3/4 of consumers expect local service providers to offer the same degree of service as national brands, which simply makes having an electronic payments system that handles credit cards/ACH payments necessary in 2020. Short messaging service (SMS) solutions are a great way for your waste management company to offer a simple, effective customer service option.

The public utilities and municipalities realm is experiencing a major increase in electronic payments. With 79% of consumers expecting local service providers to offer same level service as national brands, an electronic payments system that handles credit cards/ACH payments is a necessity in 2020. An Interactive Voice Response (IVR) system is a simple, effective way for your waste management business to provide more thorough customer service.

In 2020 the payment landscape demands sophisticated check acceptance risk mitigation tools. A Check Verification Process mitigates check acceptance risks at the point of sale, with verification options ranging from automated routing number check and negative database options, to near real-time inquiries into current checking account status.

SaaS companies that offer payment processing solutions must decide whether of not become a Payment Facilitator or engaging in a Payments Partnership is the most viable solution for their business. Neither is 

Bank Account Owner Authentication Service: Moving Beyond Check Verification Services

Canada Electronic Funds Transfer is easiest and most cost effective solution to managing Canadian ACH, allowing businesses based in Canada to debit checking accounts for one-time or recurring payments.

Canada Electronic Funds Transfer processing options are scarce compared to the ACH processing providers available in the United States. Options are limited because of the small number of banks that run the payments sphere. This makes it difficult to gain access to Canada EFT processing.Utilizing a canada electronic funds transfer allows Canadian businesses to debit checking accounts for one-time or recurring payments.

Businesses that are Payment Facilitators [Payfacs] are in essence Master Merchants that process credit and debit card transactions for their sub-merchants within their payment application.

The majority of the time payment rejects are accidents, and making customers go through the hassle of the sale process again will undoubtedly lead to a fraction of those sales being lost. By leveraging checking account verification tools businesses can reduce the chance of losing customers over simple data entry errors. Businesses that rely on future billing are especially vulnerable to bad check data, utilizing ACH Check Validation Providers can dramatically reduce bad check acceptance and the subsequent workflow problems.

Advances in the online payments sphere have now made it possible for businesses to verify bank account ownership. This real-time checking account verification can confirm that a consumer or business owns the account, and is authorized to transact.

Verifying Bank Account Ownership via an online application provides businesses with comprehensive, instantaneous insight into the person/business whose check payment the business wants to accept or enroll in a recurring billing plan.

The ACH Check Validation Services allow merchants to reduce check acceptance risk at the point of sale (both online and in person). Available options include:

The ability to verify checking account ownership is a pivotal element of reducing the risk of enrolling a new customer with potentially bad check information.

The ACH or electronic check world unfortunately lacks the authorization component present with credit cards, making Bank Account Verification a necessity for SaaS businesses looking to mitigate payment acceptance risks.

Bank Account Validation allows merchants to mitigate check acceptance risk at the point of sale by providing an opportunity to validate that an account is open and in good standing prior to the account being loaded into a recurring billing engine. This means that data entry errors, potentially closed accounts, or fraud can be caught before finalizing the sale.