Posted by Alison Arthur on 17 Sep 2018
While it may seem like the whole world is moving toward online transactions, many consumers still prefer the convenience and immediacy of in-person bill payments. This can be especially true for businesses that serve a significant amount of unbanked or underbanked customers. These customers might have limited access to bank accounts, credit cards, and debit cards, making online bill payments impossible.
Although in-person payments have their benefits, the staffing and operational costs associated with them might be too steep for some businesses to absorb. This is where automated self-service payment kiosks can be a useful tool in offering a broad range of options to your customers, no matter how they prefer to pay.
Payment kiosks mirror the experience that most consumers are familiar with at ATMs, facilitating quick, easy, and on-demand bill payments. Here are seven key benefits that self-service payment kiosks can provide as part of an overall electronic bill presentment and payment (EBPP) solution.
1. Facilitate bill payments all day, every day
Payment kiosks allow your customers to make bill payments at times that are convenient for them. By automating the process, you no longer need to worry about the staffing concerns and operational costs associated with accepting in-person payments.
2. Place kiosks indoors, outdoors, or both
Kiosks can be placed inside, outside, or a combination of the two via a “through the wall” placement. You choose the location or locations that make the most sense for your business, whether that’s on or off your business’s premises.
3. Accept cash payments
Payment kiosks are an easy way to accept cash for your customers’ bill payments. Cash can be deposited into the kiosk via bill acceptors that quickly and accurately record the amount presented. In addition, payment kiosks can make change for your customers, avoiding the challenge of applying overpayments and credits to customer accounts.
4. Assist customers in multiple languages
Payment kiosks can be configured to support transactions in multiple languages, providing a better experience for customers that prefer or require a multilingual interface.
5. Accept credit card, debit card, and ACH payments
In addition to accepting cash payments, payment kiosks can also support credit card, debit card, and ACH transactions. EMV chip card readers can provide an extra layer of security for card transactions.
6. Verify your customers
Payment kiosks can verify the identity of your customers by scanning their driver’s licenses and/or a QR Code. Doing so can facilitate a highly customized, error-free experience for kiosk users.
7. Integrate to your biller system of record
Kiosk transactions can be easily integrated to your EBPP solution, giving your business a top-down view of all bill payment activity regardless of the channel used. It can also give you the flexibility to pull reports specific to kiosk transactions, so you know when, where, and how your customers are making in-person bill payments.
The Bottom Line: Not all customers prefer online bill payments. Some might want (or need) the ability to make these payments in person. Self-service payment kiosks can help facilitate and automate these transactions as an extension of a full-picture EBPP solution.
18 Oct 2018 Blog Bill Payments in 2017: 6 Trends in Payment Options Orbipay EBPP’s 2017 transaction data reveals new insight into consumers’ bill payments behavior. Part 2 of our three-part series shares six trends related to payment options including One Time, AutoPay, and Recurring payments.
11 Oct 2018 Blog Bill Payments in 2017: 7 Insights About Payment Methods We analyzed Orbipay EBPP’s 2017 transaction data to better understand consumers’ bill payments behavior. Part 1 of our three-part series shares observations related to payment methods including ACH, credit cards, and debit cards.