4 Benefits of Pay by Text Message for Businesses
Do you struggle to get clients to pay their invoices on time? Or are you looking for a more efficient and eco-friendly way to handle billing? Pay by text message provides a convenient, paperless, and automated way to process invoices and payments and makes it easy for your customers to pay their bills on time.
With pay by text message, the entire transaction is handled within your customer’s SMS (text message) app. This means you can send your client a text reminder on their due date, and rather than needing to click a link or mail out a check, they can simply respond to the message to quickly pay their bill. This increases the chances you’ll get your payment immediately while providing your clients with a better, more convenient billing experience.
How Does Pay by Text Message Work?
Pay by text message uses SMS keywords, autoresponders, and Text2Pay technology to automate the billing process. First, your customer sends a text to your business containing a pre-selected SMS keyword – “PAYMENT” or “BILLING”, for example – to indicate that they’re ready to make a payment. Your SMS autoresponder will then send them a message confirming the billing amount and payment method.
Some businesses allow customers to save a credit card on file to simplify the process, or you could use Text2Pay to provide a secure, SMS-based payment option for added convenience. Once the payment has been processed, your autoresponder will send the customer a receipt via SMS to complete the transaction.
4 Benefits of Pay by Text Message for Businesses
Customers love to use pay by text message because it automates the billing process and allows them to manage everything from the device that’s already in their hands. In addition, pay by text message also provides numerous benefits to businesses including:
Although pay by text uses cutting-edge technology to provide a secure SMS-based payment channel, it’s remarkably easy to set up. If you use an SMS marketing platform to manage your text subscribers and communicate with your customers, pay by text may be a feature that’s already included or one that you can add to your account for a small fee.
While every SMS platform is different, most of them provide setup wizards or templates so you can easily configure and customize your pay by text feature. Many of these services can also be integrated with your billing or CRM software using APIs, making pay by text even easier to manage.
Pay by text message can help accelerate your accounts receivables process by making it easier for customers to pay their bills. One tip for ensuring on-time payments is to offer SMS alerts to your customers when their bills are due. Your text alert system will send an SMS to your customer on their due date and provide instructions for how to pay by text.
Your customer can then just respond to that message to quickly pay their bill, reducing the chances they’ll put it off or forget to log in and complete the process later. This allows your business to streamline the accounts receivable process and focus on more important matters.
Many businesses are embracing paperless billing because it’s not only good for the environment but also reduces the materials, printing, and postage costs involved in mailing physical invoices and bills to their customers. Pay by text supports paperless billing initiatives by adding an alternative channel for customers to pay their bills in a way that’s convenient for them.
Plus, pay by text message may already be included in your existing SMS marketing service, or it may be available for a relatively small additional cost.
Pay by text uses encrypted SMS gateways to ensure that your customer’s payment information is processed securely. Text message providers who offer this feature are required to follow Payment Card Industry Data Security Standards (PCI-DSS) when handling any credit card or bank account information, giving both you and your customers peace of mind that this sensitive data is being treated carefully.
And, since the entire transaction is handled within SMS, customers won’t be redirected to a third-party payment processing system, further decreasing the chances of their payment information being compromised.
Pay by text message benefits businesses and consumers both by providing a convenient, fast, and secure channel for invoicing and bill payments. While you’re looking for a pay-by-text message provider, you should consider shopping for a full-service SMS marketing and delivery solution. Not only will it make the pay by text message process easier to manage, but you’ll gain access to powerful marketing and communications features to help you expand the reach of your campaigns.
NorthText provides industry-leading SMS features and functionality including pay by text message, SMS keywords, and API integration tools. To learn more about how NorthText can help you streamline your billing and improve your customer communications, contact us online or call or text us anytime at (312) 869-9070.