School is Back in Session and Smarter Payments Are Here

Higher Education Insight

Autumn is here and school and the kids are back to school. But that also means that it’s a good time to remember that continuing education isn’t just for children. In fact, getting smarter about how you bill your customers or process their payments is a lesson that every organization can benefit from.

So sharpen your pencils and get ready to take notes - Smarter Payments 101 is now in session.

Study Up on Consumer Payment Trends

The first step in making sure you’re meeting the needs of your customers is knowing how they prefer to pay their bills. And here’s a hint - if your billing and payment strategy still involves things like stamps, checks or paper bills, it may be time for a new approach.

Overwhelmingly, consumer trends have revealed that technology like mobile payments and digital wallets are the way of the future when it comes to paying bills. This is good news for both consumers and billers. The cost to mail bills, cut paper checks or wait for funds to clear are headaches that billers must evolve beyond.

Instead, seamless integration of payment technology can assure that customers are notified when their bill is ready and they can pay that bill instantly with their preferred payment method, which is stored securely in a digital wallet.

Better for the Books

It only makes sense that a customer who is able to pay their bills quicker and with less hassle is a happy customer. But the benefits of smarter payments don’t only apply to those paying the bills. Billers can also seriously improve their end of day accounting and reconciliation stats with these tools too.

Imagine a future where automation can send bill notifications, instantaneously process payments safely and update account status within seconds. The good news is that the future is here already.

Telecom companies, tax collectors, municipal utilities and organizations of all sizes have revolutionized their billing strategy and improved their cash flow by simply partnering with a payments solutions provider.

Forget about waiting for a check to arrive or funds to clear, which can take days or even weeks. Real time payments means that funds clear and reconciliation is completed more quickly and with less effort on the part of billers. This, in turn, can reduce any organization’s cost to serve their customers.

Effortless Integration Means No Homework

These tools sound great but you may wonder about what is required to get these solutions set up, tested and working? A payments solutions partnership means that this robust tool box of digital payment options can be integrated into your already existing technology investments with virtually no down time.

And, as always, your partnership with Paymentus includes round-the-clock support and service for any needs that may arise. No worrying about systems going down or payments not being captured accurately. You can rest easy knowing that customized support and service is one email or phone call to your dedicated support team away.

Getting the Gold Star for Customer Service

Customer attrition is rising in a crowded landscape where consumers have more choices for goods and services. Keeping your customers satisfied is a never-ending challenge but it’s also one made easier with services like chatbots. And it just so happens that chatbot technology is included in your Paymentus toolbox.

Not only does this mean that you consumers are able to get help or have their questions answered at a time that is most convenient for them, it also means that you can free up your customer service professionals to tend to more complicated or pressing issues.

In case you were wondering if the general public has embraced chatbot technology when it comes to 24/7 customer support, check out these statistics:

  • 62% of consumers would prefer to use a customer service bot rather than waiting for human agents to answer their requests. (Tidio)
  • 65% of consumers feel comfortable handling an issue without a human agent. (Adweek)

So now you know how your customers want to pay their bills, what tools you will need and you can see the clear benefits, from the billers’ perspective. What are you waiting for? Your upgraded and seamless billing and payments experience is just a demo away. Schedule yours today.