Making payment methods more efficient and customer-focused is an increasing trend for companies to ensure better cash flow. By having multiple options available for customers to make payments, accounts are settled more quickly. There is less time and money wasted on collection activities or following up on accounts.
Offering the option to make walk-in payments, where an existing customer does not need to log on to the internet or call a support line for assistance, allows businesses to serve everyone with an account. In addition to faster payments, walk-in options like payment kiosks and walk-in payment system networks can provide customers with easier ways to pay bills.
Benefits of Walk-in Payments
For most businesses, online payments are the ideal method to receive account settlement. The transfer of funds is swift and accounts are up-to-date, maintaining client satisfaction and preserving cash flow for the business. When online payments are not possible for a certain customers, providing a bill payment kiosk or a network of retailers that collect payments are the perfect solutions.
Housing authorities, utility companies, and municipalities benefit of collecting cash, debit, or credit card payments without the need for additional employees. Payments can be made on or off-site. Businesses can offer new promotions, changes to services, or get feedback on the customer experience. This way, the potential to further market to the customer is increased even more so than it would be if the customer simply paid online or by mail. A positive in-person experience boosts brand identification for the customer, more so than a less interactive method of payment.
Best Practices for Implementation
There are two solutions for walk-in payments, payment kiosks and payments made through a network of stores. Both report payments in real-time. Bill payment processing centers can be set up easy through a payment solutions company. Implementing bill payment kiosks for your business require an initial assessment by your team, which should cover both the technical and human capital aspects of the transition. Typically, accepting walk-in payments will require new equipment that you can buy or lease. Determining the location and particular features of the walk-in system are prerequisites for starting the new system.
You may also want to work closely with your marketing department to educate customers on the new option, as well as to assist staff to make the most of this new opportunity. Since the option for walk-in payments is leveraged as a way to get feedback from customers and to introduce new product offerings, your team may want to introduce a new script or primary talking points for the new system.
Are Walk-in Payments Right for Your Business?
Walk-in payments are a sound option for most companies who want as many avenues as possible for customers to settle accounts. They provide an additional opportunity to increase brand awareness and to give customers the chance to consider new product offerings. Assess the issue with your team in order to determine whether the investment will offer the returns you need to continue to grow your business.