Understanding The Benefits Of Utilities Payment Processors

As a utilities service owner, you want to be sure that you're offering features that not only simplify things for your customers, but also for your business. When you are looking at the options for what to invest in, one of the things that you should be considering is a payment processor. While you're drafting your budget for your next upgrades and investments, here's a look at why you should include a payment processor on that list.

Simplifies Your Billing And Payment Process

Any time you make it easier for your customers to pay their bills, you will reduce the aging process of your invoices. This is particularly important with utility bills, because customers often overlook outstanding balances or miss payments if they have to take their payment to the local office every month.

When you invest in a payment processor, you'll be able to offer your customers a way to pay their bill with a credit card or a check all from the same system. These payment processors include both ACH debit functions as well as credit card transaction support. And, since your call center can use the same platform, you'll be able to take payments over the phone as well.

Another great way that a payment processor can help you simplify your billing and payment process is through providing online access for invoices. Your customers can see their current bill, account activity, and other information from an online portal. This makes it easier for them to keep track of their balances and usage while also allowing them to pay their bill without having to talk to a customer service representative.

Some payment processors also offer mobile support, which will allow your customers to access their account information and make payments from a mobile platform, including their smartphones, tablets, and iPads.

Provides Your Customer Service Staff With A Streamlined Platform

Your customer service staff will be able to access the terminal system from any computer that is connected to the internet when you work with a processor that offers a web-based terminal option. You'll get unlimited user accounts for the terminal, so you don't have to worry about growing your business beyond your payment platform's capacity.

When the customer service staff all has access to the same information at the click of a button, it provides a more streamlined experience for your customers. They'll be able to get information quickly and easily, no matter who they talk to when they call.

Helps You Control Your Transaction Fees

One of the most significant expenses associated with payment processing is the transaction fees from the credit card processor. When you work with a utilities payment processing specialist, you'll have a clear idea of what your transaction fees will be for each payment. Your contract will tell you what percentage you pay per transaction as well as any monthly service fees you'll incur.

While you'll likely be paying the same types of fees with your payment processing service, you may find that the percentages are actually lower than they would be if you were going directly through the credit card processor directly. That's because a processing service has a large customer base, which allows them to negotiate lower rates than what would be offered directly to a single small utility service. This could save you substantially over time, because those fees can add up when you have a broad customer base that you're supplying service to.

As you can see, a utilities payment processor could be a valuable tool to help you grow your business. These are just a few of the benefits you may receive, so consider talking with a company that can service your payment processing needs today. The sooner you start looking at a platform like this, the sooner you will start seeing a return on that investment.