Electronic payment solutions have changed the landscape of the payment world, and handling payments in 2021 should be a streamlined and efficient process for both the business and the customer.
Text to pay services offer instant payments, and with practically every American carrying a smartphone in their pocket, the modern consumer expects to be able to make payments via phone.
What Is Text To Pay?
A Text to Pay Services essentially operates the same way as regular SMS messaging, the difference being that with text to pay the customer is making a specific payment via text message. The most common example of this payment model is demonstrated by charities accepting one-off donations (e.g. ‘text DONATE to 82191’).
Text to Pay Services – For Your Business:
- A unique mobile number is provided to your business for customers to text to make payments.
- Your business is given access to a dashboard, from which your customer representatives can manage payments and text interactions.
- A reputable service will also allow you to incorporate canned responses, which help your staff help customers with common queries, or else retrieve details faster.
- Portals will also usually contain analytics and reporting to assess performance.
- Both the canned responses and the analytics can help drive loyalty with customers and advance promotional efforts.
Text to Pay Services – For Your Customers:
- Customers need only to access the information in the text message sent and proceed with payment.
- The payment amount can get added to your customer’s phone bill, meaning no need for them to supply sensitive data.
- Often, a customer will have an account with a text to pay payments company, and their card or bank account information will be added.
The Advantages For Your Business:
Text to Pay Services also offer more specific advantages for your business, mainly:
- Ease of Use
- Faster Payments & Notifications
- A Personal Touch
Ease Of Use:
Making payments via a smartphone means quicker payments, and better customer experience, leading to higher satisfaction rates for your business. Payments via text also reduce the steady flow of customer queries relating to lost information, the inability to access accounts through browsers, and other protracted situations, which reduces man-hours spent on unnecessary customer service.
Faster Payments and Notifications:
Paying directly from a smartphone means quicker payments for customers and in turn your business. Payment notifications for customers are visible and immediate: text messages are opened 98% of the time compared to the 20% open rate of email.
A Personal Touch:
Using Text to Pay Services allows customers to customize their experience, setting out their communication and notification preferences upon enrollment. This creates a feeling of control within the payment situation and the schedule by which they receive notifications.
An improved customer experience leads to:
- Improved customer loyalty.
- Improved retention rates.
- Demonstrating your business cares about its payment scenarios and customers.
The Bottom Line:
Incorporating text to pay services in your business is simple, fast, and secure – and holds a huge amount of advantages for your business. The positives we’ve detailed here only scratch the surface.
To discuss the further benefits of incorporating text to pay services, contact Agile Payments today, and let’s discuss how your business could take the next step.