Posted by Bethany Frank on 17 Jan 2017
Consumers today are constantly on their mobile devices. Whether at home or on the go, mobile phones and tablets are often the primary way people communicate with others, shop, and access their social networks and financial information.
Billers need to make a concerted effort to better engage their customers as smartphone ownership reaches an all-time high and demand for mobile service options increases. Customers want to be able to pay their bills whenever they want, through whichever device they find most convenient. Accepting payments through a top consumer-preferred channel is likely to increase customer satisfaction, especially as younger demographics come of age and enter consumer markets.
A mobile-optimized bill payment portal, for example, can provide customers easy access to self-service payment options anywhere and anytime. Customers should have the ability to view statements, schedule and manage payments, access account profiles, and sign up for things like paperless billing and AutoPay from a mobile device without compromising on user experience. Furthermore, since mobile phones are fast becoming a primary means of communication, mobile alerts can even help increase the chances of receiving payments on time. Over time, this could help billers improve cash flow and reduce bad debt.
Since text messaging is so easily accessible, many consumers also want to be able to pay their bills via text. With Pay-by-Text, customers can elect to receive a text message when a bill is available or a payment is due, and simply reply to make a payment. Enabling Pay-by-Text could help billers increase customer satisfaction due to its cross-demographic appeal; unlike some other modern payment channels, people of all ages tend to be familiar and comfortable with text messaging.
Smartphones are the new norm. Customers want convenience, flexibility, and a bill payment experience that fits seamlessly into their fast-paced lifestyles. As the world goes digital, billers need to make a concerted effort to communicate with customers and offer services on the devices and platforms they use the most. The deeper these digital devices become embedded into daily life, the more consumers are going to expect billers to utilize technology to enhance the payments process.
Visit www.alacriti.com/OrbiPay-EBPP to learn more.
06 Jun 2017 Blog Referral Partnerships: A Mutually Beneficial Relationship A referral partnership with a technology provider is a cost-effective option for businesses that want to meet their customers’ payment needs.
17 May 2017 Blog Mobile Payments: The Ball Is in the Merchant's Court Mobile payments adoption could increase in 2017 as merchant acceptance increases and consumers become more familiar with the technology.
23 Feb 2017 Blog Mobile Payments: What Will It Take to Convince Consumers? For many consumers, mobile payments are still an abstract concept.