Posted by Peggy Olson on 04 Mar 2020
When it comes to shopping, consumers have more power and choices than ever before. Advanced technologies and an avalanche of data powering hyper-customized buying experiences have empowered consumers so that they now can buy anything they want, from anywhere, at any time, and at the lowest possible price. To top it off, consumers now expect seamless, multichannel experiences, simple payment processes, fast delivery, easy returns, and intelligence around buying and payment preferences for future purchasing.
What does this mean for electronic bill presentment and payment?
Increased availability of technology and data, as well as increasing consumer choices, are at play in the EBPP arena too. Consumers want secure payments that are easy-to-make, with personalized user experiences that offer a wide variety of payment options and choices.
Most companies do a pretty good job of providing their customers with EBPP basics. But to position your organization at the forefront of the hyper-customization craze and enhance the customer experience, here are some things you should be thinking about relative to your EBPP offering:
The Bottom Line: Hyper-customization is the next wave in EBPP customer engagement, providing organizations who embrace it the opportunity to soar. By offering feature-rich, frictionless, and hyper-customized experiences to facilitate payments using any acceptance option, through any channel, at any time, you will boost customer loyalty and retention, streamline operations, and accelerate cash flow.
20 Jul 2020 Blog Billing and Payments for Credit Unions: 7 Questions to Consider Credit unions offer financial products with favorable terms and interest rates, including loans. Learn what Credit unions should consider in an electronic bill presentment and payment solution (EBPP) for servicing these loans.