The average American adult spends nearly 3 hours a day on their smartphones according to data released by analytics firm, comScore, so why not give consumers the option to pay their bills while they’re at it? Aside from mobile-responsive websites and text message, one of the best ways to collect payments on a smart device is through a mobile wallet solution. At Speedpay, billers have the option to use Walletron’s moBills service.
An energy company used moBills® to give its customers another way to pay their utility bill, with the goal of increasing consumer engagement. In the first 90 days alone, the company achieved a 12.1 percent adoption rate, grew digital enrollment by nearly 20 percent, paperless billing by 24 percent and web payments by 14 percent. The service exceeded expectations and the company was able to build direct relationships with its valued customers. In fact, 35 percent of all new utility customers added moBills® when they signed up with their new electricity provider.
Here are a just few ways that Walletron’s moBills® solution can benefit your company and your customers:
Benefits for Billers
- More On-Time Payments – Some mobile wallets, including moBills, remind customers that their bill is ready to view or due through a push notification on their smartphone. Even if a customer ultimately makes a payment online, in person or by text, the notification that the mobile wallet sends serves as a helpful reminder and can lead to more on-time payments for billers.
- Eco-Friendly – Mobile wallet adoption has led to a decrease in paper billing. Since going paperless ultimately can save a company money by eliminating the cost of mailings, you can cut costs and feel good about protecting the environment.
- More Touchpoints with Customers – Mobile wallet applications are effective because they provide another way for billers to communicate with their customers. In addition to push notifications, moBills® can also share mobile invoices and send confirmation notifications, offers, service bulletins and notices based on that consumer’s behavior.
Benefits for Customers
- Simple Enrollment – There are no headaches when it comes to enrolling in moBills®. Customers can enroll online, through text message, or via email sent straight to them by their biller. Additionally, their mobile wallet is already built into their phone, so there’s no app to download or website to visit.
- Quick & Easy Payments – Complicated technology can be a high barrier to adoption, but mobile wallets are very consumer-friendly. In just two taps, you can view a bill and make a payment via moBills®. The app is also streamlined with Apple or Google Pay, so there’s no need to enter a username or password each time to make a payment. It’s that easy.
- Built-In Reminders – The average consumer is busy and sometimes they simply forget their utility bill is due. The reminder notifications that some mobile wallet platforms, like Walletron, deploy keep consumers up-to-date so that they never miss a payment. What’s more is that once they make a payment, Walletron sends a confirmation notification so customers can rest easy knowing their payment was received.
Contact us to learn more about how Walletron’s moBills mobile wallet solution can help your business.