In this blog, we will look at how payment automation can help your customers make more payments on time and reduce the number of calls made to call centers.
As we’ll show you in this article, ultimately, payment automation can help your organization save money.
What is Payment Automation?
Payment automation, also known as automated payments or recurring payments, allows customers to make payments automatically. Recurring payment functionality can be built into payment platforms for convenience.
And with the payment automation feature, customers can set the date that they would like for automatic payments to be made via ACH, credit card, debit card and HSA. This makes payments painless for both the consumer and the organization being paid.
Payment automation works well for collections organizations, automotive dealerships, RTO businesses, and other organizations that receive regular payments.
Organization Types that Can Benefit from Payment Automation
- Automotive dealerships
- Rent-to-Own businesses
- Law firms
- Dental practices
- Chiropractic offices
Call Center Overload
When customers get frustrated with making payments online or through a mobile payment app, they’ll often call the customer service center or worse, not make a payment at all. Knowing this can help business owners understand the importance of offering an efficient payment platform.
By using a payment platform that offers customers an optimal payment experience and payment automation, organizations can experience less calls into their call centers.
In short, a great user experience can lead to savings in the amount of call center reps needed, and the amount of time and money it takes to recoup unpaid funds that are due.
Automatic Payments: Easy Payments on Time
Payment platforms that incorporate recurring payment functionality into their design allow customers to make payments fast, easy, and automatically.
The end-user can set the day and time for their payments to automatically be made by ACH, credit card, debit card, and HSA. This means more on-time payments for businesses and organizations.
Payweb360 and Recurring Payments
PaymentVision’s new mobile-first payment platform, PayWeb360, gives businesses the functionality necessary to offer their consumers automatic payments.
The new PayWeb360 is ADA compliant, comes ready to serve the Spanish community out of the box, and studies show that PayWeb360 can increase payment completion rates by over 300%.
Furthermore, PayWeb360 is designed based on input from both merchants and consumers. It’s easy to use, secure, and fast.
Automatic Payments: A Recap
Payment automation, also known as recurring payments, is a very valuable feature of payment platforms. It’s a feature that allows consumers to set payments to be automatically drafted on specified dates and can ultimately reduce the number of phone calls that go into a customer call center.
In the end, payment automation can save money by reducing the load on call centers and the time and effort required to recoup unpaid funds.
Interested in saving money with a better payment platform? Request information using the form below, and we can set up a time to chat about your payment needs.
We also offer IVR payment solutions, payment APIs, walk-in payment solutions, and mobile payment apps.