Before online payment processing services became available, bill payment was done strictly in person or by mail. Payment in person often represented a major imposition on a person’s schedule, because the doctor’s office or utility company was only open during business hours — the same hours that many people spend on the job. Meanwhile, payment by mail often generated anxiety about whether the funds would arrive on time to cover the bill, especially if a weekend or holiday was involved.
Today, this sort of inconvenience is almost completely unnecessary. Nonetheless, many customers refuse to take advantage of the convenience of online bill payment. In some cases, general mistrust is involved. However, news of massive data breaches, not to mention reports concerning unethical information sharing have almost certainly a chilling effect against other customers who would otherwise have been receptive to using online debt collection services.
Whether the issue is general skepticism or suspicion about data security related to recent news events, implementing the tips listed below can help overcome customer hesitation in using online payment processing services. The result will be increased convenience for your customers and streamlined debt collection processes for your company.
Make Online Payment Processing Service Portals Available 24/7
Making online payment service processing portals available to your customers 24/7 should be the standard operating procedure. Allowing customers to make online payment transactions securely on their own schedules increases the probability that they will accept and utilize online services to make timely bill payments.
Make the Online Debt Collection Software Easy to Use
It doesn’t matter how many functions are included in your company’s online debt collection software if it is too complex for customers to understand. Emphasize simplicity and user-friendliness as a means to inspire customers to adopt and accept a new online bill payment portal.
Offer Custom Flexible Debt Collection Processing Settlement Options
Flexibility in debt collection processing also provides a powerful incentive for customers to adopt and accept a new online payment service processing service. Consider offering flexible payment schedules, including allowing partial payments or providing arrangements for delayed payments. You should also allow customers to make payments by online check and debit card as well by credit cards or old-school paper checks and cash.
Choose an Online Payment Processing Solution that Preserves Existing Relationships
While establishing and maintaining security with online payments is essential, preserving existing relationships should not be sacrificed in the process. An online payment processing service that allows customers to register secure accounts and save preferred payment methods makes bill payment less of a hassle and increases the probability that your customers will accept and use your company’s bill payment portal.
Debt collection is a necessary element of any company that does not demand upfront payments for providing goods and services. However, promoting the use of online payment processing services increases the probability that customers will make timely payments. Maximizing convenience in scheduling and in user-friendliness of online debt collection software reduces the hassle factor of bill payment for your company’s customers. Making the efforts listed above behalf also works toward preserving existing customer relationships. Get in touch with PaymentVision today to learn how to get the most out of online payment processing.