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Understanding the Benefits of SMS Payment Solutions
Understanding the Benefits of SMS Payment Solutions
The 2020 payments landscape demands sophisticated check acceptance risk mitigation tools. Businesses now have a new tool for collecting customer payments.SMS stands for “Short Messaging Service,” and centers around cell phone texting. The typical late Payment Gateway Integration collection process involves informing a customer that a payment is late via snail mail, or an office call.

Businesses now realize paying by text offers benefits to both consumers and the business itself. With 98% open rates, 95% read rates it’s easy to see why SMS Payment Solutions are such an attractive customer billing option.Over 80% of Americans use text messaging (the top activity performed on a smartphone), but despite this popularity, many billing organizations ignore texting as a payment collection channel.Payment Gateway Integration Customers wanting to pay an invoice via text interact with their phone. In some cases they could be directed to a secure payment page to enter relevant data [eg credit card or ACH]. In other cases if they have a payment account associated with their text to pay account payment can be made using securely stored payment data.If your business is interested in reducing labor costs associated with typical late payment outreach, improving cash flow, and improving your overall customer experience, get started leveraging the benefits of SMS Payment Solutions by Contacting Us today! Find More Info...