The payments industry is ever evolving. Mobile offerings and real-time customer service are the new norms. Businesses are expected to provide the latest in payment options to meet consumer demands. Organizations have a couple of options when it comes to payment services – deploying an in-house team or working with a payment services provider.

While there are benefits to opting for an in-house payments solution, one of which is that processes can be streamlined through the company’s internal channels, the truth is that in-house solutions come with challenges. The biggest hindrance in-house teams must overcome is speed. Payment processing services, like Speedpay, are entirely dedicated to the payments industry and are therefore agile and quick. They have their ears to the ground in search of the next big innovation to revolutionize the payments world. By trusting your payment processes with a services provider, you can focus on your core business and leave your payments to industry experts.

The top three reasons to trust a payment services provider are simple:

  1. The industry is always changing. The payments industry is dynamic. The rate of mobile adoption is skyrocketing, with no end in sight. In order to meet customer expectations, it’s crucial to be ahead of the technology curve. With outdated channels or reliance on limited in-house resources, it’s unlikely your business will be able to deliver the services your customers demand in a timely manner. The Speedpay team is dedicated to bringing its clients’ desires to life, often before clients even know what’s next. Providing the latest options to your customers will increase their ability to pay bills easily and on time, which in turn leads to improved customer relationships.
  2. Regulations are complex. A key benefit of trusting a payments partner is the built-in dedicated compliance team. By taking your payment processing needs to a trusted services provider, your compliance essentials will be addressed by someone who understands the complicated nature of regulations in the payments industry. The confidence garnered from a partnership will certainly be worth the investment.
  3. It pays to have peace of mind. At first glance, deploying an in-house team can appear to be an efficient approach to managing payment processing, but by partnering with a payments provider, all the necessary resources are inherently embedded in the service. By trusting a team of professionals to provide your customers with the latest in payment technology, you’ll rest easy knowing your billing needs are in good hands.

 

Is your payments strategy up to date? Learn more at

https://payments.westernunion.com/products-and-services/bill-presentment