Today, U.S. smartphone users spend approximately five hours per day on their mobile devices, according to Flurry analytics firm. With this much time spent on mobile devices, consumers expect to be able to do everything on their phones from purchasing concert tickets to making bill payments. This is why we have officially integrated the ability to pay-by-text into Next Gen, the updated version of the Speedpay® platform, which provides current and future clients across all industries with a seamless bill payment solution through modern, responsive web and CSR desktop design. These updates take industry best practices, user experience, and client feedback into account.
Now, within the Next Gen platform, customers can sign-up to pay-by-text in a simple two-step process. Additionally, on the back end, companies have the option of permitting or restricting access to the pay-by-text plans by user group and user permissions for their customer service representatives, allowing CSRs to easily view who has added the platform’s functionality.
Although we know pay-by-text can help to streamline the payment process and reduce days sales outstanding (DSO) since consumers check their phones frequently and may be more likely to pay a bill as soon as they receive a notification on their phone, it’s important to delve into how this offering is also advantageous for companies and their customers.
- Helps Cater to Customer Preferences: The pay-by-text tool widens the opportunity for billers to offer solutions in a variety of ways the customer might want to make a payment. Offering a wide variety of payment options is critical to capturing the largest number of electronic payments.
- Expands Customer Base: The pay-by-text tool also expands the customer base for billers. Even though smartphone adoption is high, it’s not ubiquitous. Many people are still using feature phones (mobile devices with limited capabilities) and the pay-by-text payment option allows customers to use a mobile option to pay their bills that wouldn’t be available to them otherwise.
- Enhances Customer Service Experience: Pay-by-text is frictionless from a customer service perspective since it does not require speaking to a live representative. The service is automated, and customers aren’t likely to run into an issue that would warrant a call to a CSR.
Click here to learn more about Speedpay’s Next Gen bill payment platform.