Posted by Alison Arthur on 14 Feb 2019
It’s that time of year when, everywhere you look, love is in the air. Your organization’s bill payments experience should show your customers a little love, too. How can it do that? Think easy payments delivered to your customers’ channels of choice, when and where they want them. Here are three tips to help get you started.
1. Hang on your customers’ every word with voice payments
Intelligent personal assistants like Amazon Alexa and Google Assistant are streamlining so many aspects of our lives, from playing our favorite songs to ordering gifts for our loved ones. Along with these skills, intelligent personal assistants are also facilitating financial transactions like making payments. In fact, it’s estimated that 8-10% of Americans have already made at least one voice-powered payment.
While it may seem like voice payments are still at the forefront of technology, they are poised to become more commonplace as customers grow accustomed to using them. Stay ahead of the curve by adopting an electronic bill presentment and payment (EBPP) solution that allows your customers to pay their bills using simple voice commands facilitated by smart speakers.
2. Tell your customers ILY with Pay by Text bill payments
One of the closest relationships your customers have is with their smartphones. It’s estimated that the average user checks their smartphone 47 times and racks up almost three hours of use per day. Text messaging is one of the most popular features used on smartphones and a natural place for businesses to communicate with their customers. Take that communication one step further by allowing your customers to complete tasks like making their bill payments via text. An EBPP solution can provide a Pay by Text option that allows your customers to enroll in text-based payments, streamlining the bill payment experience even further.
3. Respect that some of your customers might not be willing to commit
Many of your customers might be overwhelmed at the thought of creating yet another user account to manage their bill payments. It’s not surprising, considering that by 2020 the average online user is expected to have 207 digital accounts that require a username and password. An EBPP solution can provide a guest payment option where users don’t need to commit to creating a login to make their payments. Simply configure the interface to request identifying information found on your customers’ bills, such as their account number and ZIP code. Users can enter this information to make their payments quickly and easily, without needing to remember another username and password.
The Bottom Line: Voice payments, Pay by Text, and guest payments can all create a bill payment experience your customers will love. Don’t settle for an EBPP solution that delivers anything less than a perfect match for your customers’ bill payments needs.
15 Jun 2021 Blog Fintech Disruption: Creating Opportunities for Financial Institutions Fintech can help financial institutions deliver better customer experiences. This blog examines opportunities that fintech can help unlock in faster payments, conversational commerce, and data and analytics.