COVID-19 Tips for Billers
August 3, 2020
The novel Coronavirus has tested all facets of modern life and impacted businesses large and small in the service sector. Billers now have to contend with offering their customers safe, convenient and affordable ways to handle funds while respecting social distancing and stay-at- home measures.
As a result, there is even greater need for creating digital marketplaces offering safe and secure payments. FinExtra offers seven tips for billers to keep in mind as they resolve to lessen the impact of COVID-19:
1. Offer Simple One-Time Payments
Provide one-time guests the option of making secure online payments “without enrolling in an online portal.” It helps indirect customers who do not have an ongoing relationship as well as direct customers elect not to use online services or autopay.
2. Forgo the Late Fees
Encourage customers to take advantage of the autopay feature. Autopay schedules monthly recurring payments before the intended due date, deducting funds from a registered credit card or bank account. It ensures late fees are not charged.
3. Encourage More Ways to Pay
Customers have more choices that ever to make payments. Give them the convenience of choosing payment options that work for them—“ ACH; credit, debit and prepaid cards; direct debit bank transfers; and eWallets like Apple Pay, PayPal, Venmo, and Zelle.”
4. Remote Work & Pedigree Service
Validate individual customer service agents working from home, allowing customer service centers to remain functional.
5. Help Customers Reach You
Add live chat to your “Contact Us” features. Empower customer service agents to communicate with customers and accept payment through Facebook Messenger, Amazon Alexa & Good Assistant. Enable push-notifications related to bill-pay and reminders.
6. Waive Convenience Fees
Make decisions that help ease the burden on customers to show that you are on their team. Waive convenience fees for digital payments made with debit & credit cards.
7. Show Kindness
Foster a loyal customer base “by suspending payments and late fees.” Many customers are dealing with extenuating circumstances that adversely affect their ability to make payments. Provide temporary relief for those facing the greatest hardship.
View the source article here: https://www.finextra.com/blogposting/19011/billers-seven-tips-to-lessen-covid-19s-impact
Europe and E-commerce
Europe and E-commerce June 29, 2021 The world is still recovering from the COVID-19 pandemic in more ways than one, but little by little things …
The Increasing Popularity of BNPL
The Increasing Popularity of BNPL June 22, 2022 Buy now, pay later (BNPL) has gained popularity as a payment method ever since it emerged. The …
The Payment Industry, Its Environmental Impact, And How To Reduce It
The Payment Industry, Its Environmental Impact, And How To Reduce It June 15, 2022 In recent years, many industries have come up on the radar …