Q. How are Speedpay and Walletron working together to improve the payment experience?
A. Traditionally, billers have adopted channels and consumers have selected them, but we are upending this historic pattern. Consumers are now telling us, “This is how I want to be communicated with. Tell me about my relationship with my biller, and then I’ll respond to them and engage with the biller through my phone when convenient for me.”
The concept of direct digital interaction between billers and consumers is very modern. Previously, billers had no control over the consumer experience because it was managed either by the bank or a paper statement that presented the bill once a month. Can you imagine seeing data that is weeks old? In today’s age of streaming, consumers cannot wait a month for information, not even a few days – they want information on-demand, in real time.
Now, through Walletron’s moBills® service, the billing and payment experience can be controlled by the biller, and the information is available at any time and updated in real time. Consumers are able to see their bill on their phones and in two taps make a payment. Billers are also concentrating on communicating with their customers through their mobile phones about more than just the bill – such as additional services, new inventory and service disruptions – all to create a better experience.
Q. What is unique about Walletron’s alliance with Speedpay?
A. The integration between Walletron and Speedpay is tight – that’s really the linchpin. This API real- time connection lends itself to a very simple experience for the biller. Because the payments are going through Speedpay, the biller doesn’t need a new project team, reconciliation or merchant-acquiring account; it’s really a simple configuration exercise. The billers can use the same EBPP strategies they have in place today and simply add a new access channel to communicate with their consumers through their mobile phones.
Q. What has your experience been like working with the Speedpay team thus far?
A. It’s been great! I’ve known some of the Speedpay folks personally since the late ‘90s, and they have been leading the payments industry for decades, which can really be seen through the team’s knowledge base. Along with expertise in the payments industry, the team has knowledge of the nuances of different industries, including utilities, auto finance and telecommunications. They know their clients and how to work with the client organizations for contracting, implementation, etc.
Speedpay’s development team has also been very easy to work with – everyone is committed to helping provide a frictionless consumer experience – and they are able to get new billers set up within a few weeks.
Q. What do you believe sets Speedpay’s services apart from other providers?
A. Payments are part of the DNA at Speedpay, and now the digital experience for global consumers is taking a front seat. However, Speedpay is not only focused on digital or mobile first, it is focused on the 360-degree experience for the consumer and the biller. The Speedpay commitment to a seamless digital proficiency is further demonstrated through the flexibility and unique design of the Next Gen platform.
To learn more about Speedpay and Walletron’s offerings, visit speedpay.com.