WHAT TO CONSIDER
Key Capabilities
When reimagining consumer payments, consider these capabilities.
Hub Capabilities
Gain the flexibility to rapidly add an ever-expanding set of payment methods, without impact on core internal systems.
Smart Communications
Automatically notify recipients of receipt, approval and payment initiation status, as well as fund availability and current balances.
Ease of Integration
Having a prebuilt integration with a modern billing system expedites the implementation process and shortens development timelines.
WHAT CUSTOMERS EXPECT
Customers Value Choice and Speed
There’s now an emphasis on the truly digital customer experience –with a wide variety of communication methods and ways to manage the payment process. Dynamically managed customer notifications and payment processes such as text pay and digital wallets are gaining in popularity.
Choice
2020 SMA Research Report
73% of customers want and demand choice, but in reality, many customers have only one method for payment disbursements.
Speed
2020 SMA Research Report
72% of customers say speed is important, but in reality, many customers spend a lot of time making and receiving payments.
Immediately
2020 SMA Research Report
74% of customers want funds immediately, but in reality, many customers wait for disbursements via costly check payments.
HOW TO MAKE A CHANGE
Immediate Benefits to Reimagining Your Payments
For businesses that want to keep up with rising consumer expectations, it’s imperative to accept a variety of digital payment options to deliver a competitive and comprehensive customer experience.
Ease and Speed of Use
Technology is making everything faster, and consumers need products and services that can keep up with their busy lives.
Improved Efficiency and Transparency
Digital payments increase accountability and tracking, lessening the risk of corruption and theft.
Lower Cost
Digital payments can be made quickly and efficiently, which decreases costs like wasting time and resources with inefficient cash payments.
Simple Customer Experience
Customer experience, technology, and services are the three pillars on which to build any business and digital payments are at the center.
Delivering the Payment Experience Consumers Want and Expect
Optimize your business to consumer payments workflow by eliminating the expense and opacity of check payouts.