Pay by Text is a way for businesses to make payments more convenient for them and their customers. Learn more about how to use this incredible tool.
The Covid-19 pandemic was a wake-up call to many businesses. As lockdown ensued, businesses had to adapt to online commerce to keep customers. As we come out of the pandemic, digital and contactless payment options are here to stay.
Pay by Text is a useful digital tool that emerged from the pandemic. Using this tool can make your business appealing and more convenient to more customers. Watch a demo about how it works.
Your Customers Are Choosing Pay by Text Options
According to Ctia industry data, 89 percent of Americans are within arm’s reach of their smartphones at all times. This data point highlights the relevance of providing mobile solutions for customers and illustrates why allowing customers to pay via text message can increase payment turnaround times for your business.
Pay by Text is becoming increasingly common among consumers under 35. As much as 63 percent of millennials use Pay by Text message, or another mobile platform, to shop or make payments.
Why Consumers Prefer To Pay by Text Message
The Pay by Text process is incredibly convenient for your customers. The easier it is for customers to make a payment, the quicker they will pay and non-payment rates will decrease. The consumer’s side of the Pay by Text message process is simple:
The customer receives a friendly text message with a link.
The link takes them to an online invoice.
The customer can pay the invoice from their mobile device.
The invoice will allow the client to use a credit card, debit card, or ACH transfer.
Once the customer has paid, they’ll get a receipt that they can save, share, or print.
Reasons to Choose Pay by Text
As a business, Pay by Text can be a lucrative option that gets you ahead of the market. As of January 4, 2022, only 14% of companies, not just service businesses but all companies, utilize this innovative tool. There is a lot of room to take advantage of the market before your competitors.
Zero Cost Processing
One advantage of Pay by Text options, included with Allset’s payment platform, is zero credit card processing costs for business owners. Many online payment platforms like Venmo for Business, Stripe, and PayPal have processing fees for business-consumer transactions. Allset’s Zero Cost Processing helps eliminate credit card fees for the business.
Higher Read Rate
Get Paid Faster
Digital forms of payment like Pay by Text are much faster than traditional billing or over-the-phone payments — they’re almost instantaneous. As soon as the customer clicks on your link and types in their information, the payment is sent. Depending on your bank, processing can happen in just a business day or two.
You don’t have to keep track of which clients have paid and which haven’t. Allset does it for you! When using Allset’s Pay by Text feature, automated follow-up comes built in. If a customer doesn’t make a payment, Allset can send daily reminders encouraging your customer to finalize payment. No more spending valuable time hunting down payments.
These days, the companies that bring convenience to their customers are the ones who profit. Consumers love being able to buy from the comfort of their own homes and paying for services at their convenience. Making your product or service more convenient will inspire customer loyalty to your brand.
Try Pay by Text Yourself
Stay ahead of the competition! Use Pay by Text message to improve payment turnaround times for your business and increase convenience for your customers. Book a demo and see how it can work for your business.