Meet Your Customers Where They Want To Be Met
We’re thrilled to announce the launch of FinText™ Payments: a seamless, embedded payment solution delivered through an exceptional mobile experience, and a new way to accelerate payments through your consumers’ channel of choice: text.
This Will Help You Drive Increased Payments
There’s a clear gap in the market, and that’s what we’re out to solve with FinText™ Payments. Consumers express an increasing desire to make payments via text, but many lenders and collectors aren’t keeping up. Consumers are often anxious about calling into a phone line, putting forth the effort to write a check, and navigating another complex web experience.
This is where we come in. By combining the power of the text channel with the action of making a payment, our early FinText Payments users have been able to:
- Accelerate payments at a lower cost: With a 98% open rate, mobile messaging is the most effective way to get in front of your consumer. And while the delivery and effectiveness of traditional channels, such as postal mail, email, and call center, decreases, their cost increases – making text a critical player in a true, modern omni-channel strategy.
- Reduce risk: Manually processing payments presents tremendous risk of error, and digitizing this process not only makes it easier for your consumer to input information, but for your team to process payments as well. In highly-regulated industries, compliance can make or break a payments program. FinText ™ Payments was built with compliance in mind, designed to keep you within regulatory guidelines, without adding to your PCI scope.
- Drive exceptional customer experience: There’s no two ways about it – meeting your customers where they want to be met is the fastest way to an excellent customer experience. Give them a frictionless, convenient, and fast way to pay their bills in their channel of choice – mobile.
- Gain visibility into what’s actually working: Traditional channels have a break in visibility between delivered messages and payments collected. For the first time, get full-cycle visibility, from message to payment, giving you the insights you need to make smart decisions for your business. See which messages are actually working, which aren’t, and adjust.
Here’s How It Works
Upon a consumer’s first payment, they will be taken to a secure screen, where all they need to do is review their bill, their name and address, and funding method – and confirm. No login necessary, no access code necessary – making the process frictionless and easy.
For all subsequent payments, the consumer can pay directly within the text message, using a set of two keywords: ACCEPT and PAYNOW
It’s truly that easy – for your consumers and for you.
The future of payments is here, and it sits within your consumers’ mobile devices. By combining the power of text and payments, we’re enabling our customers to drive more payments, faster, at a lower cost, all while delivering an exceptional experience to their users. If you ask us, that’s a win-win-win.
Interested in FinText™ Payments?