When it comes to customer retention, it’s important to keep an eye on consumer demands. It’s difficult for customers to find a bill pay system that provides all the features they’re looking for, and to catch their eye, you could be the bank that offers them a complete digital solution.
We’ve zeroed in on the top five things your customers are looking for in a bill payment service:
1. Convenient invoicing and approval in the blink of an eye. Web-based bill pay options make it easy and painless for your customers to manage their payments. They can pay bills from anywhere, on any device. There’s no need to keep track of paper documents or set aside time to make the payment in person—when they’re ready, bill pay is ready.
2. Bill pay with a photographic memory. Customers don’t want to waste time feeding your payment system information manually. With automated invoicing, they can avoid this tedious process, and they don’t have to worry about making errors when providing their payment and invoice information.
3. Another set of eyes on their finances. When customers are able to access features for cash management and control over finances, it’s important to provide secure payment authorization and offer dual authorization or segregation of duties.
4. Protection against fraud. Many bill pay systems do not offer fraud protection. Assuring your customers that their accounts are protected from unseen risks will put their minds at ease, and give them incentive to choose your system.
5. Bill pay that fits into the big picture. By integrating directly with the ERP application, the system already has the customer’s finance information. This eliminates the inconvenience of manual data input and shrinks the possibility for human error. It also simultaneously provides visibility into all of their AP (AR) processes.
When you give your customers the top 5 bill pay benefits they’re searching for, you show them that you’re watching out for them. Keeping them satisfied is the key to keeping their business. With a white-label system like Paybox, you can offer your customers the most sought-after services, and keep their eyes from wandering elsewhere to satisfy their bill pay needs.
Paybox is a single platform that integrates transaction information across a company’s entire organization. It eliminates time-intensive manual processes, and reduces the potential for human error. Paybox creates white label solutions that can be yours to offer immediately—without the lengthy, complex development process.
For more information or to schedule a demo, contact Paybox today, at (954) 510-3750.