All posts by Alison Arthur

Product and Content Marketing Manager Alison creates timely product marketing and thought leadership content that keeps Alacriti's community informed on the latest developments in billing and payments technology. With a background in payments and financial services, Alison specializes in composing content related to technology, security, compliance, and overall industry trends.
Alacriti Blog

5 Benefits of Card Account Updater for Bill Payments

Payment card information changes more often than you might think. Individual cards are frequently lost or stolen, expiration dates come due regularly, and mass reissuance can be prompted by card upgrades and/or security breaches.

More and more customers save their payment methods electronically to take advantage of automatic payment options. While this provides the benefit of “setting it and forgetting it”, it also means that updating saved card information might not be top-of-mind when that data changes. Billers that rely on direct intervention from customers to update stale funding sources can be left chasing late bill payments and missing out on timely revenue.

A credit card updater solution helps minimize the hassle of missed bill payments due to outdated card information. Billers that subscribe to this service receive fresh card data seamlessly, preserving incoming cash flow and reducing the burden on internal resources tasked with recovering missed bill payments. 

Credit card updater, part of our Orbipay EBPP (Electronic Bill Presentment and Payment) solution, automatically submits expiring cards to merchant processors to automatically obtain new payment card information. Here are five benefits of credit card updater for bill payments.

  1. Maintain accurate customer card account information.

Bill payments are only as good as their funding sources. Credit card updater refreshes saved payment card information automatically, meaning your organization always has the most up-to-date data.

  1. Reduce interrupted bill payments.

Credit card updater’s automated process helps reduce the number of interrupted bill payments, supporting continuous incoming revenue that your organization relies on.

  1. Deliver a better customer experience.

Credit card updater eliminates the need for customers or members to manually update their card information when it changes. It also helps them avoid late or missed payments, creating a more positive experience throughout their customer journey.

  1. Prevent service disruptions.

Late or missed payments due to outdated card information can have serious consequences for bill payers. Credit card updater can help reduce service disruptions and prevent account delinquencies by supplying the most accurate card data to your organization.

  1. Improve operational efficiency.

When a bill payment fails, contacting customers or members to update their funding source information can be a significant burden for your internal teams. Credit card updater automates this process, giving your staff more time to focus on other organizational initiatives.

The Bottom Line: Credit card updater automates the burdensome process of refreshing stale saved payment card information. The solution is often offered as part of an overall EBPP, usually alongside automated card expiration notifications and card expiration reporting, meaning that adopting credit card updater can be as simple as talking to your EBPP provider.

Updated from a blog post originally published September 25, 2019.

Nacha rules require originators of WEB debit entries to use a “commercially reasonable fraudulent transaction detection system”, making it necessary for a real-time bank account validation process. Read more in Nacha Rule Extensions. 

Alacriti’s Orbipay EBPP is a customizable electronic billing and payments solution for businesses and financial institutions of all sizes. Credit Card Updater is just one of several Orbipay EBPP features available to help you accelerate receivables. For more information, please contact us at info@alacriti.com.

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Payments and the Internet of Things (IoT)

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Once an abstract concept, the Internet of Things (IoT) became a tangible global sensation. Smart appliances, connected automobiles, and wearable technology are just a few examples of the IoT that have changed the way consumers interact with the world around them. And IoT just keeps growing. IDC forecasts that there will be 55.7 billion connected devices by the year 2025.

IoT also provides ample opportunity for players in the payments space to capitalize on this phenomenon. The realization of a concept like IoT, which essentially enables machines to preemptively fulfill needs based on data, suggests to consumers that their payment experiences should be just as efficient. Consumers now expect payments to integrate seamlessly into their everyday lives through their IoT devices.

Examples of IoT

Smart Speakers

Amazon Echo and Google Home are among the most recognizable smart speakers. Driven by AI-powered intelligent personal assistants, these devices can provide information about everything from traffic conditions to recipes. They can also be used to help consumers manage their finances, from looking up account balances to making bill payments with simple voice commands.

Retail

IoT also enables new and enriched shopping experience for consumers while simultaneously presenting lucrative revenue opportunities for merchants. Some retailers are investing in beacon technology to send push notifications, promotions, and coupons to shoppers as they enter their stores. These types of enriched shopping experiences can help traditional retailers bridge the gap between online and in-store shopping, possibly leading to increased sales.

Auto

Connected cars are becoming more common. Business Insider estimated that 75% of the estimated 92 million cars shipped globally in 2020 would be built with internet-connection hardware. Internet connectivity combined with apps like Spotify and Netflix make in-vehicle entertainment a fully integrated and seamless experience. Auto insurance companies are also leveraging IoT to track the driving habits of their customers and offer discounts for safe driving.

Home

Smart home devices are streamlining our daily lives like never before. From smart refrigerators that can reorder groceries to video doorbells that help keep our homes secure, almost every part of our home can be streamlined by IoT. And smart speakers can help join these disparate smart devices together into one central command center, making it easier to manage them all.

What does IoT mean for payments?

The explosive connectivity that IoT delivers is poised to increase payment transaction volumes, making a robust payments infrastructure a fundamental component to sustained success. Financial institutions and other payment service providers can help businesses prepare for monetization opportunities by offering comprehensive services that can integrate into the fast purchasing environment made possible by IoT.

It’s also important to note that the rapid expansion of IoT can expand payments risk and fraud as well. Banks and other stakeholders will have to keep the possibility of increased fraud in mind and develop additional security measures to verify and protect consumer identities.

The Bottom Line: As consumers continue to leverage IoT for increased connectivity and convenience, there is an opportunity for financial institutions and payment service providers to gain a competitive advantage. This advantage can be realized with a balance of innovation, security, and user-focused design.

Updated from a blog originally published September 9, 2019.

AI-powered personal assistants can make payments. Read 4 Ways Chatbots are Revolutionizing Electronic Bill Payments. 

Today’s legacy and siloed banking technology infrastructure limit financial institutions’ ability to rapidly innovate. It’s time to look at money movement in a new way. Alacriti’s Orbipay Unified Money Movement Services does just that. Whether it’s real-time payments, digital disbursements, or bill pay, our cloud-based platform enables banks and credit unions to quickly and seamlessly deliver modern digital payments and money movement experiences. To speak to an Alacriti payments expert, please call us at (908) 791-2916 or email info@alacriti.com.

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How to Choose an EBPP Solution: Three Factors to Consider

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Electronic bill presentment and payment (EBPP) solutions are a strategic investment for consumer-facing businesses including healthcare providers, insurance carriers, utility companies, and more. As consumers continue to move toward digital transactions as demand for contactless technology increases, a multi-channel bill payments solution can give businesses the edge they need to stay ahead of the competition.

EBPP results in reduced billing costs, enhanced security and decreased time to receive payments for businesses. The bill payments experience can have a significant impact on overall customer satisfaction, so businesses should be sure to research and choose an EBPP solution that best meets their unique needs. Here are three important factors to consider when selecting an EBPP solution.

Innovation

Payments are faster and more convenient than ever thanks to innovative technology like P2P payments, digital wallets, mobile connectivity, and more. And consumers are looking for the same speed and convenience for their bill payments. An EBPP solution should be able to accept bill payments via innovative channels like Pay by Text, intelligent personal assistants, and messaging apps. It should also combine these payments seamlessly with more traditional channels (agent, IVR, kiosk, etc.) to provide a top-down view of an organization’s entire payments program.

Customer Experience

Bill payments are often the most frequent touchpoint between billers and their customers, which is why it’s so important to deliver the right experience. Now more than ever, customers expect the process to be smooth no matter how or when they choose to pay a bill. It should be easy for customers to connect with businesses and pay their bills anytime and anywhere, using the payment channels, methods, and types they prefer.

In addition, an EBPP solution should give customers access to timely support in case they encounter any roadblocks throughout the bill payment process. Potential complexities should be mitigated by design that offers a clean and efficient interface that’s intuitive for users. A simple, easy-to-use UI combined with features like messaging and alerts can transform the bill payment process into a powerful way to engage with customers.

Flexibility

A great EBPP solution is flexible and fully customizable, from its visual design to its features and functionality. Businesses should seek a configurable EBPP solution that can accommodate unique organizational needs. An EBPP solution can be tailored to specific business requirements and combined with custom design to deliver a frictionless experience that allows businesses to cater to the needs of all customers no matter their individual preferences.

The Bottom Line: Bill payments are such a critical component of the overall customer experience that businesses can no longer afford to deliver anything less than truly exceptional. Partnering with an EBPP provider that’s rooted in innovation, customer experience, and flexibility can transform the bill payment process for both businesses and their customers.

Read more about bill payments in Why Should Businesses Offer Flexible Payment Options?

*This is an update on an original post published October 2019

Today’s legacy and siloed banking technology infrastructure limit financial institutions’ ability to rapidly innovate. It’s time to look at money movement in a new way. Alacriti’s Orbipay Unified Money Movement Services does just that. Whether it’s real-time payments, digital disbursements, or bill pay, our cloud-based platform enables banks and credit unions to quickly and seamlessly deliver modern digital payments and money movement experiences. To speak to an Alacriti payments expert, please call us at (908) 791-2916 or email info@alacriti.com.

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A Look at P2P Payments

Awareness and adoption of digital payments are at an all-time high. Mobile phones, connected devices, and other emerging technology all contribute to increased consumer demand for speed, efficiency, and convenience. Person-to-person (P2P) payments are becoming more popular as consumers switch from physical payment methods like cash and credit/debit cards to digital alternatives, especially in the post-pandemic economy.

P2P payments were first made popular by payments giant PayPal, which made it possible to transfer money to other PayPal users via the web or mobile devices. The market soon expanded to include similar services from Google, Dwolla, and others, but PayPal continued to dominate the space. Now, Venmo and Zelle® are among the most popular brand names in the world of P2P payments. Here’s a closer look at both solutions.

Venmo

Launched in 2009, Venmo quickly captured attention by offering users the option to send and receive money via bank accounts, debit cards, and prepaid cards without incurring a fee. Since its introduction, Venmo’s mobile-centric approach and social component have made it a front-runner in the P2P payments space.

Venmo was acquired by payment service provider Braintree Payments in 2012 before PayPal absorbed the parent company in 2013. Venmo has 361 million active accounts and is on-track to generate $900 million in revenue in 2021.

Zelle

The success of P2P payments platforms like Venmo spurred innovation from the banking sector as well. Individual banks long offered their customers the ability to send and receive money to and from other customers; however, due to lack of centralization, none of these services were formidable competitors for solutions like PayPal.

A bank-owned consortium, Early Warning®, launched its own P2P payments solution in 2017 named Zelle. It uses alias-based authentication of account holders via email addresses and mobile phone numbers to connect users and facilitate near-instantaneous money movement without fees. As of Q2 2021,1700 financial institutions are signed on with Zelle, representing 74 percent of all U.S. DDA accounts and $120 billion worth of payments sent over its network. 

What’s Next for P2P?

In an age when people might be more likely to carry a smartphone than cash and cards, P2P payments are a viable digital alternative to traditional payment methods—and demand only continues to increase as consumers demand more contactless options. These solutions make it easy for consumers to split a restaurant check, pay a friend back for a concert ticket, or send a monetary gift. But P2P solutions are expanding beyond person-to-person payments. Zelle offers a disbursements solution as well as a solution for small businesses. And Venmo is expanding its reach into merchant acceptance and diversifying with its branded debit card. The next phase of P2P may see these solutions emerging as holistic payment solutions that can benefit both consumers and businesses.

Read more about P2P in P2P Money Movement—The Retrospective You Didn’t Know You Needed.

*This is an update on an original post published October 2019

Today’s legacy and siloed banking technology infrastructure limit financial institutions’ ability to rapidly innovate. It’s time to look at money movement in a new way. Alacriti’s Orbipay Unified Money Movement Services does just that. Whether it’s real-time payments, digital disbursements, or bill pay, our cloud-based platform enables banks and credit unions to quickly and seamlessly deliver modern digital payments and money movement experiences. To speak to an Alacriti payments expert, please call us at (908) 791-2916 or email info@alacriti.com.

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2019 Year in Review: Faster Payments, Digital Disbursements, and CAU

The billing and payments ecosystem is constantly evolving. Our blog is a place where we provide context about changes in this ecosystem that can impact both our business and our clients. This year, we reported on significant developments in areas including faster payments, digital disbursements, and card account updater. Here’s a look back at three major themes we explored in 2019.

  1. Faster Payments Expand

In August, The Federal Reserve announced that a new real-time payment and settlement service, called the FedNow℠ Service, will be developed by Federal Reserve Banks. Available 24/7, the FedNow Service will support faster payments in the US by facilitating the near-instant transfer of funds. As a result, both individuals and businesses can benefit from faster payouts and quicker settlement of debts, including bill payments. The availability of FedNow as a public utility can help participants better manage their finances and avoid unnecessary fees, charges, and penalties.

In addition to FedNow, two other faster payment rails – The Clearing House’s RTP® network and NACHA’s Same Day ACH – also achieved significant milestones. Click here to learn more about existing faster payments systems in the US and around the world.

  1. Digital Disbursements Emerge

If there’s one lesson that can be learned from the rapid evolution of faster payments, it’s that people want their money as quickly as possible. The world we live in is increasingly on-demand and consumers’ expectations are rising accordingly. Digital disbursements are emerging as a consumer-friendly alternative to paper checks for business that owe money to their customers.

What are digital disbursements? Get a primer by visiting our blog that discusses how digital disbursements leverage existing payment rails to deliver funds to consumers quickly and easily, without paper checks. And don’t forget to explore five different use cases for digital disbursements in industries including healthcare, insurance, and real estate. Finally, our March webinar gave a holistic view of digital disbursements with perspectives from Bank of America and Zelle® on how the technology can be a game-changer for both businesses and consumers.

  1. Card Account Updater for Bill Payments

Card Account Updater (CAU) can be a useful tool for merchants across all industries. While it’s probably best known for extending card-on-file recurring e-commerce charges like monthly subscriptions, it can also be invaluable for billers that provide their customers the option to save card account information for one-time, autopay, or recurring bill payments. CAU can help prevent payments breakage by replacing stale card information with the latest updates. Learn more about the benefits of CAU for billers in our blog, including how it can improve operational efficiency and deliver a better customer experience.

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The 6 Critical Components of Effective Healthcare Billing

When a patient receives a bill from their healthcare provider, it can be filled with terminology they might not understand. Co-payments, co-insurance, and deductibles may create more confusion than clarity about what they owe, why they owe it, and when their balance needs to be paid. 

Deductibles, premiums, and out-of-pocket expenses continue to rise, making it critical for patients to understand their financial responsibility and the extent to which their insurance plans may (or may not) contribute. As patients increasingly bear more personal financial responsibility for their healthcare costs, it’s imperative that healthcare providers make their billing process as clear and actionable as possible. 

What are the critical components of effective healthcare billing?

So how can healthcare providers help clarify patient responsibility and improve their chances of collecting balances owed? Here are six critical components for healthcare providers to consider. 

Component #1: Eliminate any confusion that it is, indeed, a bill. 

Insured patients typically receive two communications about the related service – an Explanation of Benefits (EOB) from the insurance company and a bill issued by the healthcare provider. The EOB typically includes the date of service, what was performed, who the provider was, the amounts allowed under the insurance plan, adjustments, deductibles, and patient responsibility. Although EOB statements are typically labeled NOT A BILL, sometimes they can be confused for bills. And conversely, provider bills can be confused for statements that don’t require further action. 

Ensure that bills are clearly labeled with Amount Due, Due Date, and direct language like “You Owe” or “Patient Responsibility”. Work with a billing provider that can customize bills in a manner that increases the likelihood of being paid on time and in full. In particular, electronic billing solutions can offer the flexibility to send alerts and e-bills to patients directly, communicating with them in a manner that may increase their likelihood of taking action.    

Component #2: Make sure patients know what the bill is for. 

For repeat patients, there may be confusion about which service or appointment the bill is related to. Clearly indicate the date of service, healthcare provider, and services performed so the patient has visibility into what they’re paying for. 

Component #3: Provide clear line items indicating patient payments already made (co-payments) and the insurance company’s contributions.

Make it clear to patients which credits have already been applied to their bills. This can help them understand what their insurance company has already contributed, make it easier to comprehend their personal liability, and encourage on-time payments. 

Component #4: Present bills in the manner that patients want to receive them. 

For some patients, paper bills might be their preferred method of corresponding with healthcare providers. For others, electronic bills may be more convenient. Paper bills can give patients the option to pay via check, write in their payment card information, or provide access to an online portal that supports one-time guest payments. E-bills can cut down the costs of printing and sending paper bills, eliminate the time lag associated with paper bills, and give patients direct access to an online portal where they can customize and manage their bill payment experience. 

Component #5: Give patients the widest variety of options to pay their bills. 

Just as patients have preferences for paper bills vs electronic bills, they also have preferences for how they want to pay. Some like the convenience of paying on a credit card while others might choose cash, check, or debit card transactions. Providing a billing solution that supports a wide variety of payment methods and payment channels – from walk-ins with cash to credit card transactions via mobile devices – can increase the likelihood of on-time payments.  

Component #6: Provide a helping hand for patients along the way.

No matter how much healthcare providers try to anticipate their patients’ needs, patients will still have questions regarding their billing statements. Providing easy access to helpful support specialists (both online and over the phone) can help patients better understand their bills and encourage them to make timely payments. Introducing a chatbot to your digital experience can be an easy and cost-effective way of answering general billing inquiries from patients. 

The Bottom Line: Healthcare bills can be confusing and patient payments are an important revenue stream for healthcare providers. Help increase the likelihood of on-time payments by offering a bill payment experience that’s clear, easy, and focused on patients.

*This is an update on an original post published February 2018

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3 Payments Stories That Caught Our Eye

The payments industry moves at the speed of light. At Alacriti, we keep a close eye on newsmakers that impact the electronic billing and payments ecosystem. Here are three recent headlines that captured our attention.

  1. The holiday season is upon us

The National Retail Federation® released its forecast for the 2019 holiday season. Some key takeaways include:

  • November and December holiday retail sales are expected to rise between 3.8 percent and 4.2 percent over last year
  • Holiday retail spending is predicted to total approximately $730 billion
  • Consumers say they will spend an average of $1,047.83 this holiday season, up 4 percent from 2018

Holiday spending can throw a wrench into consumers’ budgets. This might be the perfect time for billers to offer customers the ability to skip a bill payment during the holiday season. How does it work? Learn more here. 

  1. Uber expands into financial services with Uber Money

Uber recently announced a new financial services division called Uber Money. Through its Uber Debit account, drivers and couriers will be able to access their earnings in real-time and without incurring additional fees. They can get paid after each ride rather than having to wait for weekly paychecks or cashing out with Instant Pay. 

Uber Money is also relaunching its Uber Debit Card and Uber Credit Card products, both of which feature new and improved cash back programs. This announcement is one in a series of tech companies making inroads in the financial services sector (other examples include Apple Card and Amazon Lending). However, the future of big tech in financial services may be in jeopardy. Stay tuned for updates on this blog. 

  1. Apple Pay claims the top spot in mobile payments platform users

The Starbucks app has long been able to claim the most users of any mobile payments platform. Not anymore. In October, eMarketer released new numbers showing that Apple Pay finally claimed the top spot in 2018 with 27.7 million users. This growth is expected to continue into 2019, with an estimated 30.3 million users followed by Starbucks at 25.2 million.

same day ach
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The Road to Same Day ACH

Money movement in the United States is powered by payment rails, and one of the core networks is the Automated Clearing House (ACH). From settling bills with service providers to direct deposit of paychecks, ACH payments streamline credits and debits in often unseen ways. In 2018, more than 23 billion payments were made via ACH, accounting for $51 trillion in value. ACH payments can provide convenience and peace of mind to consumers while automating business processes and reducing the costs of payments acceptance.

The Move to Same Day ACH

In 2015, the Electronic Payments Association® announced Same Day ACH, an amendment to the National Automated Clearing House Association’s (NACHA) Operating Rules, designed to move payments faster. Historically, most ACH payments were settled within one to two business days. Same Day ACH was introduced to enable the same-day movement of money for almost any ACH transaction.

Who Benefits from Same Day ACH?

Same Day ACH is designed to make payments faster, more efficient, less risky, and more cost-effective. In addition, NACHA identified specific use cases for Same Day ACH including the following:

  • Same-day payrolls – to pay hourly workers, make late or emergency payrolls, and allow employees faster access to their pay
  • Faster bill payments – to let customers make on-time payments the day their bills are due, helping to avoid late fees and penalties
  • Business-to-business payments – to facilitate the settlement of invoice payments made between trading partners
  • Disbursements – to make payouts (such as insurance claims) on the same day, eliminating the time lag associated with paper checks

Same Day ACH Implementation: Initial Three-Phase Approach

Same Day ACH was initially implemented in three phases, with the third and final phase executed on Friday, March 16, 2018. Here is a synopsis of the three original implementation phases.

Phase 1: Effective September 23, 2016

Phase 1 of Same Day ACH applied to credits only (up to $25,000). The introduction of Phase 1 created two file submission windows at 10:30 am ET and 2:45 pm ET, with settlement times of 1:00 pm ET and 5:00 pm ET, respectively. Funds were made available to the receiver at the end of the business day when the file was submitted.

Phase 2: Effective September 15, 2017

Phase 2 allowed the same day settlement of debits in addition to credits. The file submission windows and settlement times reflected what was introduced in Phase 1.

Phase 3: Effective March 16, 2018

Phase 3 accelerated the availability of funds to the receiver. Phases 1 and 2 required that funds be available at the end of the day when the file was submitted. Phase 3 required that funds be available to the receiver by 5:00 pm (local time) on the day that the file was submitted.

Expansion of Same Day ACH

After completing its third implementation phase in 2018, NACHA voted to expand Same Day ACH’s capabilities even further by announcing three key changes. The first change (effective September 20, 2019) made funds available more quickly for certain Same Day and next day ACH credits, expediting deposits and disbursements for businesses and consumers.

The second change (effective March 20, 2020) will increase the maximum dollar limit for Same Day ACH transactions to $100,000. The final change (effective March 19, 2021) will expand the time window for submission of Same Day ACH transactions to the ACH network by adding an additional two hours to the existing timeframe.

The Bottom Line: Same Day ACH is just one part of a broader movement toward faster, more efficient transactions. Read our take on faster payments here.

*This is an update on an original post published February 2018

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What We Learned at AFP 2019

At AFP 2019, held October 20-23 in Boston, we had the opportunity to connect with attendees in the exhibit hall and attend sessions dedicated to the latest developments in payments. Here’s a quick recap of lessons learned at the event.

  1. It’s more important than ever to embrace payments innovation.

Payments are changing at the speed of light. The majority of sessions discussed new and evolving innovation in payments and how this innovation can positively impact organizations across all industries.

Embracing payments innovation begins with fully understanding the payments needs, preferences, and requirements of an organization’s constituents. Once this profile is developed, it becomes clear where innovation can be applied to support these constituents in their payments journey. Solutions like FedNowSM, RTP®, and Zelle® were discussed across multiple sessions to illustrate how organizations currently use these solutions or plan to use them in the future.

A key takeaway is not to delay adopting these solutions in hopes of better technology in the future. The future is now, and consumer expectations are only continuing to rise. It’s imperative that organizations position themselves to meet these expectations by adopting new payments technology or working with a partner who can help them adapt quickly.

  1. Paper checks are remarkably persistent.

A decade or two ago, it would have been easy to predict that paper checks would be a thing of the past by 2019. Although check payments continue to decrease, the rate of that decline has been decelerating as it becomes more difficult for organizations to eliminate ingrained paper processes. However, several of the sessions were dedicated to organizations that are thinking outside of the box to replace legacy processes built around paper checks.

  1. Organizations are rethinking how they issue refunds.

Paper check-based refunds can be expensive, difficult to manage, and open organizations to the risk of fraud. And when unclaimed or undeposited refunds go into the escheatment process, the headaches only worsen.

One session discussed how a hospital changed this dynamic by switching their refund issuance from paper checks to debit cards. Doing so helped eliminate barriers for patients not familiar with paper checks or those who don’t have a relationship with a bank. Moving refunds to debit cards allows patients to spend their money with the merchants of their choosing, withdraw cash at ATMs, or request paper checks instead.

In addition to creating a more seamless experience for patients, the hospital benefits as well. The shift to debit cards has resulted in less manual intervention, lower costs, and more efficient accounts payable and treasury processes.

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What’s Driving Consumer Adoption of Digital Payments?

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Physical currency is as old as history itself, but modern technology is shifting every aspect of commerce including the use of traditional payment methods like cash.

Cash still has its place in the economy and it’s unlikely that paper money will disappear anytime soon. But it’s also worth noting that paying with cash involves a certain level of imperfect calculation. Consumers don’t always have the exact amount of money required to complete a transaction. In fact, they typically overestimate how much they need to avoid falling short. The leftover money often goes unaccounted for, ending up at the bottoms of purses or beneath couch cushions.

Alternatively, digital payments allow consumers to “keep the change” every time. Precise transactions in lieu of rounded cash payments can create savings faster than one might think. Digital payment options like in-app purchases, digital wallets, and P2P payment solutions can facilitate accurate budgeting and reduce wasted money. In addition to pure savings, consumers can also take advantage of associated perks like personalized discounts and linked rewards programs.

But what about security?

Some consumers still perceive digital payments as less secure than cash. The biggest safety risk with cash is that it can’t be replaced if lost or stolen. However, cash also provides anonymity in payment transactions whereas there is always a data trail associated with digital payments.

While it’s too soon to determine definitively whether digital payments are safer than paper-based payments, there are safety features built into digital payment transactions that aren’t possible with cash or paper checks. Techniques like multi-factor authentication, biometric scanning of fingerprints or faces, and encryption can provide extra layers of security in digital payment transactions.

More speed, more convenience

Technology is fueling faster everything, and consumers need products and services that can keep up with their busy lives. Perhaps the biggest drawback of traditional payment methods is their incompatibility with the expanding digital universe. As technology becomes more embedded into everyday life, traditional payment methods like cash may feel increasingly cumbersome to consumers.

The internet of things (IoT) is poised to speed the pace of change even further with device-driven payments powered by intelligent personal assistants like Amazon Alexa and Google Assistant, for example. Wearable payments via devices like smart watches and fitness trackers are likely to have an impact as well. Payment methods that slow consumers down may create additional friction and frustration as the world continues to modernize.

Are physical wallets becoming a thing of the past?

Despite the proliferation of digital payments, consumers often find themselves in need of a physical wallet to carry essential items such as a driver’s license. Also, there remains a need to carry backup payment methods in case a merchant doesn’t accept digital payments or is having issues with their point of sale technology. Until everything from receipts to personal identification documents can be stored and accessed digitally, it’s likely that physical wallets will continue to occupy space with their owners.

The Bottom Line: Cash isn’t going anywhere, but the continued proliferation of digital payment products and services suggests that consumers are interested in alternatives to traditional payment methods. For businesses that want to keep up with rising consumer expectations, it’s imperative to accept a variety of digital payment options in addition to traditional payment methods to deliver a comprehensive customer experience.

*This is an update on an original post published May 2016

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How to Streamline Auto Finance Payments in 4 Easy Steps

Rideshare apps, booming urban populations, and investments in public transportation have all helped lessen people’s dependence on owning personal automobiles. Despite these forces, car ownership is back on the rise after the setbacks it experienced during the Great Recession of 2008. As car ownership continues its rebound, so do the auto finance loans used to make these purchases. As of March 2019, outstanding car loans in the US reached a new record total of $1.16 trillion, with 27 million new auto loans originated in 2018. 

With the upswing in car ownership and auto loans also comes a surge in payment delinquency. Late payments and loan defaults can lead to costly auto repossessions that disrupt auto lenders and car owners alike. The delinquency rate on auto loans has been rising steadily for several years. And at the end of 2018, it was estimated that 7 million Americans were 90+ days delinquent on their car loans.

The ripple effect of auto loan delinquencies

On-time auto loan payments are crucial not only for an individual’s financial well-being but also for the economy as a whole. Having dependable access to personal transportation means that citizens can get to and from work, shop at local businesses, and take road trips with friends and family. For people that rely on personal automobiles for these activities, being late or delinquent on car loan payments can have disruptive effects on their lives and financial health.

Making auto loan payments simple

For many people, on-time car payments are as crucial to their overall well-being as paying their mortgage, utility, and grocery bills. And as such, people are looking for simple, safe payment solutions that can help ensure they never miss a payment. The right electronic bill presentment and payment (EBPP) solution can provide flexible, customizable options for your auto finance customers. Here are some key features and functionality to look for in an EBPP solution for auto finance payments.

  1. Offer auto loan customers the most ways to pay – whether in person, online, over the phone, or through chatbot technology.

Servicing auto loans means serving a diverse group of customers. Auto finance companies are tasked with accepting payments through a variety of different channels to support the individual needs of their customers.

For example, some customers might want to make walk-in payments at physical locations. This can be especially helpful for customers who don’t have traditional banking relationships or access to checking accounts. Others might like the convenience of calling an IVR system, so they can make payments right up until their due date.

Increasingly, customers are looking for digital channels to make their payments. This might mean logging in to a client portal on a desktop computer or making a one-time payment via a mobile device. Some EBPP solutions can even facilitate payments by leveraging artificial intelligence (AI) and chatbot technology in messaging apps like Facebook Messenger and smart home speakers like Amazon Alexa. Make sure to adopt an EBPP solution that can serve the needs of today and adapt easily to the payment trends of the future.

  1. Let your customers know when their auto loan payments are due. And allow them to sign up for reminders so they don’t forget.

Just as customers have different preferences for how they choose to pay, they also have different preferences for how they want to be alerted when a payment is due. Some might like receiving a physical bill in the mail while others might prefer the convenience of an eco-friendly e-bill. Make sure your EBPP solution can empower customers to choose the billing method of their choice.

Of course, sending bills either in the mail or electronically doesn’t mean that customers are going to pay right away. This is where providing the option of signing up for billing reminders can create extra peace of mind. Email or text notifications can be an effective way to prompt your customers to take action and avoid the penalties associated with late payments.

  1. Provide billing options like AutoPay that streamline payments for your auto loan customers.

Car loan payments are simply too important to miss. Be sure to provide an EBPP solution that gives your auto finance customers the ability to make automatic payments. This allows them the freedom of knowing that they won’t miss a payment and suffer the consequences of a delinquent account. Recurring payments can also be a valuable option for customers that want to align their car payments with their paycheck cycles.

  1. Give customers the flexibility to skip an auto loan payment if they need to.

Providing a skip-a-payment option might be a unique selling point for your auto loans. For a fee, customers can have the option to skip-a-payment and make it later, which may come in handy during times of unexpected financial hardship.

The Bottom Line: Access to automobiles is critical not only for individuals but also for the economy as a whole. Providing your auto loan customers with a full service EBPP solution can help streamline the billing process and empower them with the tools they need to never miss a payment.

Alacriti Blog

A Better Member Journey Is Just a Chat(bot) Away (Webinar Recap)

Chatbots are a hot topic for organizations across all industries, including credit unions. They can enrich member experiences, provide 24×7 support, connect with members on their preferred digital platforms, and streamline internal operations.

On September 25, Alacriti co-hosted a webinar with NACUSO to discuss the ins and outs of chatbots for credit unions. If you’re curious about the basics of chatbots and how they can benefit your members, here are key takeaways from the webinar. 

  1. Chatbots can automate common member inquiries without human intervention.

Where is the closest ATM or branch location? What is my account balance? Can I order more personal checks?

These are just some of the routine questions that members might pick up the phone and call credit unions to have answered. These calls cost time and money, and can easily be resolved with the help of chatbots. Credit unions can enlist chatbots as primary responders for these types of straightforward inquiries to help speed up response times and reduce call volume for member service representatives.

  1. But chatbots can also transfer complex inquiries to human counterparts when the time is right.

Chatbots can’t exist in a vacuum – they must be able to call on their human counterparts to assist with more complicated inquiries. Credit unions can develop strategies to gracefully hand off member service requests from chatbots to humans when the technology is unable to resolve an inquiry. One way of doing this is to limit the number of attempts a chatbot has to handle the question before transferring it to a member service representative. This is typically controlled via a setting in the chatbot itself or the channel where the chatbot is being accessed.

  1. Chatbot data can help credit unions deliver more personalized member experiences.

 A benefit of chatbot conversations is that they are all logged digitally, meaning they can be analyzed for patterns. For example, if a member tends to request their account balance two days before their bill is due, a credit union can use this information to deliver the balance information proactively. Chatbot data gives credit unions sharper insight into their members’ behavior and the ability to deliver more personalized experiences.

Click here to access the webinar recording.

Alacriti Blog

P&C Insurance: Consumer Bill Payment Preferences & What’s Ahead (Webinar Recap)

Looking back at the P&C Insurance sector in 2018, all signs point to it being a year of strong growth. A report published by Deloitte shares that overall economic growth and rising interest rates were just two of the prevailing market conditions that bolstered P&C Insurance carriers throughout the year. In addition, US premiums were written at an unprecedented rate and the insurable bases for both personal and commercial accounts expanded.

What we here at Alacriti find interesting and exciting in this growth is the impact that it had on bill payments. A strong and growing sector meant that more policyholders were making bill payments. And how policyholders chose to make their payments, from the funding sources they selected to the payment channels they used most often, are of particular interest to us.

On June 25, we hosted a webinar, “P&C Insurance: Consumer Bill Payment Preferences & What’s Ahead”, that featured speakers from Aite Group and Alacriti. In it, we reviewed historic bill payment preferences for P&C Insurance published by Aite Group in 2017 and shared our findings from 2018. In addition, our speakers looked ahead to future trends impacting the P&C Insurance sector including cloud computing, blockchain, and digital disbursements.

Here are some key takeaways from the webinar:

  • In 2018, web-based payment channels handled more than three-quarters of all P&C Insurance payments value on Orbipay EBPP.
  • Debit cards were used most frequently by P&C Insurance policyholders, but ACH accounted for highest percentage value of transactions.
  • An opportunity remains for P&C Insurance companies to encourage policyholders toward less expensive funding methods to help reduce their overall cost of accepting bill payments.
  • There was a significant preference for One Time payments and therefore an opportunity to encourage more policyholders toward AutoPay.
  • Moving to cloud computing can create dynamic scale for P&C Insurance carriers to seamlessly accommodate surge periods of premium payments (beginning and end of the month, for example).
  • Blockchain can be a powerful tool to combine insurance data from various sources and distribute it securely to stakeholders.
  • In addition, blockchain can address some of the highly manual processes associated with P&C Insurance and allow new types of highly targeted insurance (flight delay insurance, for example) to be developed.
  • Digital disbursements can help P&C Insurance carriers deliver a more modern claims payout experience to their policyholders than traditional paper checks.

Watch the recording to learn more.

Alacriti Blog

5 Takeaways from NACHA PAYMENTS 2019

Alacriti was honored to attend and speak at NACHA’s PAYMENTS 2019 annual conference. The event, hosted May 5-8 in Orlando, featured thought-provoking speakers and topics reflecting the latest trends in payments. Here are five takeaways we learned at the show.

  1. Artificial intelligence (AI) has powerful applications in payments.

There are many applications of AI in payments that can increase security and streamline operations throughout the industry. They include risk management, cash flow forecasting, digital assistant chatbots, fraud prevention, and AML screening, just to name a few. Most importantly, AI enhances their human counterparts rather than replacing them. The technology empowers staff to approach their jobs more quickly, accurately, and efficiently than possible without the help of AI.

  1. Chatbots provide unprecedented opportunities for businesses…and some threats.

Our head of product, Stuart Bain, co-presented with Jeff Pauly from Bank of America in a session titled, “What’s Next for Chatbots?” The speakers defined chatbots, presented current use cases, and speculated on what the future might hold. There are opportunities for chatbots to detect emotion using advanced natural language processing (NLP), leverage predictive behavior analysis, and mine data to streamline operations. But these opportunities come with threats like harvesting consumer data, injecting malicious code or commands, and/or chatbot impersonation. Businesses using chatbot technology will need to identify and thwart these security threats to keep their chatbot environments safe and secure.

  1. Facial recognition is gaining momentum as a payment channel.

Faces are the new fingerprints. Alipay’s “Smile-to-Pay” system continues to expand in China and NAB ATMs in Australia are leveraging the technology to authenticate users making withdrawals. This biometric data adds another layer of security in the fight against fraud.

  1. Paper check usage is going up for small businesses.

It might sound counterintuitive, but paper check usage is going up for small businesses. The slower process of writing, sending, and waiting for paper checks to clear can create a financial advantage for small businesses. During this time, they can slow down the payables process and retain those funds for a few extra days to reap the benefits of their higher balances.

  1. Payments fraud continues to rise.

A session dedicated to the 2019 AFP Payments Fraud and Control Survey shared some alarming statistics related to payments fraud. A record-high 82% of organizations reported being subject to actual or attempted fraud in 2018. While almost 70% of fraud was discovered within two weeks, a delay of even one day can have significant negative consequences for an organization.

Alacriti Blog

4 Takeaways from CS Week 2019

At CS Week 2019, we connected with a diverse group of utility companies all interested in delivering the best electronic billing and payments experience possible. In addition to the insightful conversations at our booth, we also attended sessions dedicated to the latest customer service trends in the utilities space. Here are four key themes we heard throughout the show.

  1. Emerging bill payment channels are front-of-mind.

Several sessions discussed emerging bill payment channels like smart speakers (Amazon Alexa, Google Home, etc.), Facebook Messenger, and text messaging. As customer demographics shift to include more Millennials and members of Generation Z, utility companies are acutely aware of the need to facilitate billing and payments in the channels their customers use most. They are actively seeking solutions that facilitate a payment experience commensurate with what their customers receive from other service providers and retailers.

  1. Artificial intelligence (AI) and machine learning (ML) are transformational forces in the utilities space.

AI and ML have many powerful applications for utilities. A recurring theme was leveraging the technology to predict whether customers would pay their bills on time or miss their due dates. These predictions can help customer support teams devise proactive approaches to help prevent missed payments.

Another application is the ability to analyze usage patterns. In doing so, utilities can identify ways for customers to adjust their consumption habits and save money on their utility costs. Finally, AI and ML can help identify utility theft, giving utilities the potential to save on costly operational expenses incurred for lost services.

  1. Bill payments are still frequently called in over the phone.

In several of the sessions, utilities spoke of the continued reliance on phone-based payments. In fact, one presenter conveyed that 45% of their utility’s card payments were called in over the phone. While phone interactions are an important part of the customer experience, they also present an opportunity to move customers toward digital channels to deliver on-demand payment experiences that can save utilities time and money.

  1. Customer self-service is more important than ever.

One speaker put it simply – most customers don’t want to interact with their utility providers. Another cited that the average customer only thinks about their utility 11 minutes per year. While many customers may be averse to direct communication with their utility, they may also be missing out on important account information and ways to save on their utility bills.

Utilities are tackling this problem by incorporating self-service chatbot technology into their websites to help answer common billing and payments inquiries, report outages, and more. One utility is also delivering videos that are personalized for each customer and include high-level account/billing information, usage patterns, and ways to save on their utility usage. These videos help answer questions proactively while also delivering a highly customized experience built with each customer in mind.

Alacriti Blog

Consumer Bill Payment Trends in 2018: 5 Takeaways

Consumers have many choices when it comes to paying their bills. Do they want to pay directly from a bank account, use a Debit Card, or pay their balance on a Credit Card? Do they want to be alerted when a new bill is due and make a One Time payment, or do they prefer the convenience and ease of AutoPay? Are they most likely to login to a user account, contact an Agent, or use a simplified online experience to pay a bill? And what is the most popular time for them to initiate their bill payment transactions?

Alacriti has a unique view into consumers’ bill payment habits thanks to our electronic bill presentment and payment (EBPP) solution, Orbipay® EBPP. The transactions that flow through Orbipay EBPP give us exclusive insight into the bill payment habits of our clients’ customers. At the conclusion of 2018, we performed an extensive analysis of our transaction data to gain a better understanding of our users’ bill payment preferences. Here are five takeaways from our research that can help provide a better understanding of today’s bill payers.

Please Note: Our analysis of consumer bill payments excludes transactions of $5,000.00 and above.

Takeaway 1: Billers were most likely to offer ACH as a Payment Method

Among ACH, Debit Cards, and Credit Cards, ACH is the payment method that’s most likely to be offered by billers, with 93% of our clients doing so. Debit Cards are the next most commonly offered Payment Method at 61%, followed by Credit Cards at 57%.

Takeaway 2: When ACH wasn’t offered, Debit Cards were chosen by bill payers more often than Credit Cards

For billers that didn’t offer ACH as a Payment Method, Debit Cards were the preferred way to fund bill payments with 71% of users choosing them. Credit Cards were selected for 29% of transactions in this scenario.

Takeaway 3: Debit Cards were the Payment Method of choice for Payment Plans

Orbipay EBPP allows billers to offer a Payment Plan option to their customers, in which the biller establishes the amount and frequency with which users can pay an outstanding balance over a specific time period. Users on Payment Plans gravitated toward Debit Cards as their Payment Method of choice, with 59% of users doing so. ACH funded 27% of these transactions in 2018, and Credit Cards funded 14%.

Takeaway 4: The majority of Utilities payments were made automatically

Almost two-thirds (65%) of users chose to make their Utilities payments via AutoPay.

Takeaway 5: Users preferred to make their payments at the beginning or the end of the work week

Mondays and Fridays led the pack for the most popular days to pay bills, but what about the other five days of the week? Download our white paper to learn more.

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Alacriti Blog

Webinar Recap: Why businesses need to embrace Digital Disbursements. Now.

On March 5, Alacriti hosted a webinar, “Why businesses need to embrace Digital Disbursements. Now.” The presentation featured speakers from Bank of America, Early Warning Services (Zelle®), and Alacriti.

The webinar discussed reasons why businesses that issue paper checks for customer payouts should consider adopting a solution that digitizes those transactions. With so much innovation in the payments space – from digital wallets to in-app purchases – B2C payouts remain largely tied to paper checks. Why is that the case?

The reality is that there are genuine obstacles that businesses might face when it comes to digitizing the payout process. First is that many businesses have legacy financial and accounting systems that are deeply tied to paper check issuance. If an organization’s payout operations are completely constructed around paper checks, it might require a significant amount of time, labor, and money to change those legacy systems. Some business may simply not see the value in making these investments in digital payouts and upending the tried and true processes they’ve come to rely on.

Another reason might be customer readiness. While some customers don’t think twice about receiving a paper check in the mail, Digital Natives are used to doing everything on their mobile devices, including financial transactions. The thought of having a financial transaction that isn’t fully digitized, like receiving a paper check, is only going to become more foreign of an idea as the population of Digital Natives continues to expand.

Finally, there’s the added element of security concerns. Accepting customer payments comes with a host of security and compliance considerations for handling sensitive customer payment information, the most notable being PCI DSS compliance. Some businesses might resist the idea of collecting, maintaining, and securing customer payout information on top of what they’re already doing for payments. This can add a new dynamic to security and compliance considerations that businesses might simply not want to deal with. But solutions like Zelle can help overcome some of these concerns.

Despite these obstacles, there are significant benefits that can be created for businesses that choose to make the transition to Digital Disbursements, the most important being the ability to meet rising customer expectations. As the generations continue to shift, there is going to be less of an appetite for manual, traditional payouts like paper checks. Businesses need to start thinking now about how to position themselves for the future and meet the changing needs and expectations of their customers for payouts. Because it’s likely going to be a key differentiator going forward.

Listen to the full recording to learn:

  • The size of the disbursements market
  • The types of payouts that consumers receive most often
  • A typical Digital Disbursements workflow
  • Alternatives to paper checks such as ACH, push-to-debit card, and Zelle
  • Benefits and use cases of Digital Disbursements

Access Recording

Alacriti Blog

3 Takeaways from HIMSS19

Alacriti was privileged to attend the HIMSS Global Conference & Exhibition hosted February 11-15, 2019 in Orlando, FL. In addition to our insightful conversations with attendees and exhibitors, we also sat in on educational sessions to gain a deeper understanding of the latest topics in health information and technology. Here are three takeaways.

1. Artificial intelligence (AI) and machine learning (ML) aren’t new concepts in healthcare, but their time has finally arrived.

AI and ML are no longer hypothetical ideas in healthcare. Rather, they are actively being applied to create valuable benefits for both healthcare providers and their patients. In the session, “Using Machine Learning to Drive Innovation-Driven Healthcare”, the panelists shared real-life applications of how AI and ML are coming to life. One example is finding the right clinical trials for the right patients at the right time. AI and ML allow providers to scan approximately 11,000 documents per hour to find the right match, potentially expediting access to effective treatments and even cures. In addition, AI and ML can help structure text in medical records, make billing/reimbursement more efficient, and reduce administrative waste.

2. Voice assistants have the potential to completely transform interactions between healthcare providers and electronic health record (EHR) systems.

EHR systems offer many perks to healthcare providers but navigating the trove of information they contain can be cumbersome. Macros were developed to help providers locate specific data quickly, but they require pre-scripted, exact phrases to work. Voice assistants are emerging as a tool that can help streamline these interactions and locate information quickly using natural language processing (NLP).

A team from Vanderbilt University Medical Center shared their experiences developing a voice assistant for EHR in their session, “Transforming EHR Interactions Using Voice Assistants.” They explored the benefits of using natural voice commands to quickly retrieve pertinent information from patients’ records. They also discussed some of the challenges they encountered in developing their voice assistant including context, intent, latency, and the right balance between brevity and clarity. While some providers might balk at the amount of work required on the back end to make them work, voice assistants can make the valuable information contained in EHR more accessible than ever.

3. PCI DSS compliance isn’t just the IT department’s responsibility.

Payment Card Industry Data Security Standard (PCI DSS) compliance is a complex, multi-faceted endeavor for organizations of all sizes. However, that complexity only grows as organizations get bigger. In the session, “Streamline PCI Compliance in a Diverse Hospital Environment”, the speakers took a deeper dive into approaching PCI DSS compliance in a large hospital environment.

A key topic of discussion was the question of who owns responsibility for PCI DSS compliance in a large organization. While the task tends to get assigned to the IT department, the Treasury department should have a stake in the process too. The ideal approach is for IT and Treasury to partner together and consult with merchant processors and acquiring banks for additional guidance.

Hospitals are a prime example of many small merchants making up a larger organization. For example, one of the panelists cited that, in his experience, approximately 80% of all payment transactions in a hospital are generated from the cafeteria. Hospital parking and gift shops are other key drivers of payment transactions. Interviewing people throughout the organization to learn how they accept payments and identifying any non-compliant workarounds are keys to improving security and compliance throughout the entire organization.

Alacriti Blog

A Payments Experience Your Customers Will Love

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.

Alacriti Blog

2018 Year in Review: Orbipay EBPP

The beginning of a new year is not only a time to plan ahead, but also an opportunity to reflect on milestones achieved over the past twelve months.

We recently hosted a webinar for our client community that reviewed accomplishments, improvements, and upgrades related to our flagship electronic bill presentment and payment (EBPP) solution, Orbipay® EBPP, in 2018. Here are five key highlights from our year in review.

Highlight #1: The total value of payment transactions on Orbipay EBPP more than tripled in 2018.

In 2018, the total value of payment transactions rose 376% thanks to the addition of some significant client entities and overall transaction growth across our existing client base.

Highlight #2: Orbipay EBPP’s system response time was far quicker than our target.

Orbipay EBPP’s average system response time was 88 milliseconds, which was well below our target time of five seconds. This was measured as the average response time on the busiest day of each month.

Highlight #3: Major enhancements were introduced to Orbipay EBPP’s online reporting function.

In 2018, Orbipay EBPP’s online reporting function received a complete overhaul and redesign. Online reporting became a standalone, easy-to-access function that can support multiple products. The redesign includes the addition of a dashboard page, improved tools for filtering and working with the data, new/updated interactive charts, new/updated drill-down functions, new notification reporting, and expanded capacity for data download.

Highlight #4: Extensive upgrades were rolled out in Orbipay EBPP’s User Management System.

Orbipay EBPP also received a complete overhaul and redesign of its user management system (UMS). UMS became a standalone function that can be accessed seamlessly and support multiple products. The redesign includes:

  • A more intuitive workflow for user creation and maintenance
  • Improved tools for accessing, filtering, and working with data within a page
  • The addition of a dashboard page
  • New options for user data download
  • New bulk user creation function

Highlight #5: Orbipay EBPP added the ability to accept online donations from customers.

Based on requests from our client community, Orbipay EBPP added the ability to accept online donations from customers. The donations capability includes recurring payment support, customer-entered amounts and/or dropdown of amount options, plus the option to capture how the donation should be directed and/or a donation message. Click here to learn more about accepting online donations.

The Bottom Line

This is just a short list of Orbipay EBPP’s milestones in 2018. Stay tuned for more enhancements and improvements already in the works for 2019.