Find the mobile payment solution that works for your business and your customers
In 2021, mobile commerce totaled $359.32 billion in sales – an increase of 15.2% from 2020 (Insider Intelligence). The same report estimates that mobile commerce will more than double by 2025, reaching $728.28 billion in sales, and 44.2% of all e-commerce retail sales in the U.S.
That’s significant.
In the wake of the COVID-19 pandemic, more people than ever are shopping and making payments on their phones. It’s become a convenient, and ever-more familiar way to make purchases, check accounts, and make payments. Still, some customers prefer more traditional methods like live support phone services that provide an agent to personally assist in real time.
As a business, it’s essential to offer modernized mobile payment methods, but not at the expense of any segment of your customers. That’s why it’s important to offer a variety of ways for your customers to pay by phone.
Here are a few pay by phone options to consider:
Types of Mobile Payments
1. Pay by Text
Text messages are convenient. They’re also not as easy to ignore as your email inbox.
These days, we’re accustomed to text reminders for upcoming appointments, dinner reservations, and notifications that our groceries were delivered. While the convenience, effectiveness, and familiarity all exist for the consumer, only 4% of small businesses offer a pay by text option (Weave).
It’s not that the demand isn’t there, either. In the same study by Weave, 35% of customers are interested in making a payment via text, and 62% of buyers under age 35 would “frequently or always pay with a text from their phone if they could.”
By offering your customers a frictionless Pay by Text option that is layered on a secure ACH transfer, you give them the convenience of paying anytime and anywhere via SMS.
FirsTech offers a suite of mobile, self-service solutions to empower your customers including a pay by text feature. In this service, your customers receive a text message alert of their upcoming due date. With one simple response, they can make the payment directly via SMS, getting you paid more efficiently. The entire system is automated, saving you time and resources while also giving a simple and secure ACH payment experience to your customers.
2. Mobile Website Payment
Over half of all website traffic is done on a mobile device (Statista). This means that if you want to be paid via the internet, you need a portal that is mobile-friendly and responsive.
A website or payment portal that is not optimized for mobile traffic will add friction to the payment process, and result in fewer online payments.
When planning mobile payment solutions for your business, you’ll need a website that makes it easy to make payments on a mobile phone.
FirsTech offers a responsive payment portal for mobile payments as well as a My Account dashboard for your customers. Here, they can view their account data easily and have access to it without needing to speak with a customer service representative. All of this is easily accessed through the dynamic and responsive mobile website that can be customized for your organization.
3. Pay by Phone (Automated)
For customers who enjoy the convenience of making payments anytime and anywhere, but aren’t as comfortable with paying by text or through an online portal, paying by phone might be the service for them.
In the automated pay by phone option, customers can make a payment through an automated voicemail system. This allows for the flexibility of mobile payments, but with the familiarity of a phone call.
With FirsTech’s Automated Telephone Payment solution, your customers interact with a state-of-the-art Interactive Voice Response (IVR) system. With automated voice payments, the IVR can handle both inbound calls from your customers, as well as automated outbound calls to receive payment.
The scripts and options are customized to your unique specifications, so you can offer this convenient payment solution while still staying true to your brand and your commitment to customer service.
4. Pay by Phone (Live Representative)
There’s no one size fits all solution for your customers’ diverse preferences in payment methods. If some of your customers prefer to speak with a live representative to verify their payment, FirsTech provides a pay by phone option with a Customer Service Representative (CSR).
Our customer service representatives can process eChecks or credit card payments over the phone, while your customers receive quality service. This easy-to-use system allows for simple payment processing without any additional software or licensing needed.
Find the Right Mobile Payment Solution for You
Your business and your customers are unique, so your mobile payment strategy should fit your custom needs. If you’re interested in exploring these mobile payment services at FirsTech, we’d be happy to provide a comprehensive payment solution for you.
For nearly four decades, FirsTech has served as a partner to our client’s success by excelling in rapid payment collection and a robust offering of payment services. With the most comprehensive capabilities suite designed to satisfy your business needs, FirsTech is the payment industry’s Partner for Business Success.
To help provide the right solutions for your unique business, contact us or request a demo today.