What are Mobile Payments from Esendex?
Mobile Payments from Esendex are an innovative new way for businesses to collect funds from customers. Instead of relying on traditional channels like post and manual calls from agents, Mobile Payments use the Mobile Journeys platform to target customers mobile devices, and deliver a personalised, fully branded payment environment.
As a fully PCI compliant platform, Mobile Payments provide both customers and businesses with the confidence that any payments are being made in the most secure way possible, while at the same time providing the convenience of a self-service platform which can be used at any time or place.
Do Mobile Payments work?
Mobile Payments are a proven way to increase payments when compared to traditional forms of payment collections like post and payments over the telephone.
We took a sample group of 14,000 customers and found that just over 5,000 (38.2%) of them went on to make a payment.
Who can use Mobile Payments?
Here are just some of the industries that can benefit from more engaging payment journeys.
Collecting payments from customers in the financial sector can often be extremely challenging. In many cases, the customer does not have the means to pay or simply refuses to.
Mobile payments provide an engaging platform which increase the chances of a payment being made, by providing an easy to use, self-serve environment which can be used at any place and time:
- Overdue debt reminder/payment
- Regular loan repayments
- Insurance premium collections
In the face of seemingly endless cutbacks, organisations in the public sector must maximise their opportunities to take payments, while at the same time reducing their cost to serve.
Mobile payments can help with this by providing a fully automated payment service, which is cheaper to run than traditional communication channels like post.
- Council tax collection
- Public housing rent collection
- Healthcare/dental treatment collection
Tools like contactless payment and Apple Pay have made it easier for customers to quickly and easily make payments in store, but improvements for remote transactions have been a little slower to arrive.
Using a Mobile Payment in conjunction with a Mobile Journey will make it easier to introduce customers to products and services, and then seamlessly take payment.
- Store card collections
- Transaction processing
Every person who owns or rents a home in the UK will have to pay a utility bill, but making sure that they all pay can be troublesome when relying on communication tools like post.
Using a digital channel like Mobile Payments to prompt payment, and then provide a means to make payment as part of the same interaction is a proven way to increase payments, and make significant cost savings.
- Direct Debit setup
- Overdue payment collections
What are the features of Mobile Payments?
Here are the features which will help you collect more payments in a simple and secure way.
Mobile Payments can be used in conjunction with your existing payment processor
Use your customer’s name and unique account details for a more engaging journey
Use your company's branding to create a familiar payment experience
Analyse each of your customer touchpoints with transparent reporting
Don't just take our word for it
Collecting payments from customers is a critical part of Cash4UNow's business. Find out how Esendex worked with them to provide a digital, mobile-focused service which prompted more payments from customers, and automated their collections processes to become their primary method of collecting payments.
So what are the benefits of Mobile Payments?
By using your existing payment provider you’ll reduce the transition time to your new payment system
Every interaction will be protected by appropriate identity verification stages
The average web form gets completed 12.6% of the time. Mobile Payments average 46.5%
Increase the amount of time your agents have for other tasks by automating collections/payments
around the clock
Collect payments 24/7, without the need for an agent
Reports make it easy to see where improvements can be made to your customer's payment journey
Self-serve environment, which can be used at a time and place to suit them.
cost to serve
After a low initial setup cost, collecting payments through Mobile Payments is more efficient and affordable than traditional routes
Delve a little deeper - read the Esendex Mobile Payments eBook
In our eBook (The Problem with Payments) we explore the negative impact of non-collection in UK markets, and the strategies which can be used (via more engaging mobile-focused communication channels) to maximise customer payments and reduce risk for businesses.
Want to learn more about Mobile Payments?
Let us know how we can help