How do you reduce regulatory risk, make customers happy, and get paid?
Dealing with PCI compliance when taking payments over the phone, making it easy for your customers to make payments, and chasing arrears are constant challenges for businesses. A robust PCI compliance capability protects your business from ever increasing fines. You need to give customers a variety of easy ways to pay, which increases on time payments, and cash flow.
Chasing arrears by presenting a variety of low friction payment options will reduce outstanding debt. MultiPay from PayPoint has developed a solution that solves all three challenges, in a single solution – PayByLink
PayByLink sends your customers a payment request text message branded to your business. Our data shows that 95% of text messages are opened, so it instantly gets in front of your customer. The customer is presented with all the payment details they need to agree - no logging in, no Passwords, no trying to find the website, no friction.
Plus, once the payment is made, you are notified, in real time. It is also compatible with our cash payments network of over 28,000 stores, up and down the country. Customers can choose the most convenient method that suits their lifestyle, and the way they manage their money
PayByLink is used to take payments over the phone, avoiding the need for call centre colleagues to take card details. It’s much more cost effective than other solutions, and is quicker and more straightforward to implement.
To ensure timely payment, a range of reminder messages can be sent to customers. By presenting the low friction pre-populated pages, you can increase customer payments on time, and delight customers that they have an easy service to use. You could even schedule reminders to the customers preference.
If payments have been missed, you can send individual messages to ensure the customer catches up on their payments -they can then make the choice of how to pay. By doing a ‘sweep’ of outstanding payments, anecdotally our clients have highlighted up to 15% of high volume, low value debt can be retrieved in this way.
The benefits of PayByLink by MultiPay include reducing your PCI risk, increasing cash flow and reducing arrears. Your customers will also increasingly be delighted that they have an easy way to pay as they get on with their daily lives.
We can work with you on a variety of payments and customer solutions, so contact our team, and we can take the time to understand your challenges and your business.
Mark Anderson, MultiPay Product Manager