You may have heard that bill payments are the technological weakest link. This article will shed light on the topic and help you with a reliable affordable tech support merchant account. Let’s see what professionals in the field think of strengthening this weak side in payments.
Online Payments on the Rise: Bill Payments
According to Deloitte, 35% of customers started using online banking services more often during COVID-19. Banks responded to the increased consumer demands for simpler online bill payments by offering Pay-by-Link services.
Some of them had already been using Pay-by-Link services, and others adopted these services during COVID-19. As the term shows, this process is about a supplier sending out an invoice by SMS or e-mail with a link in it that, when clicked, takes the receiver to the bank’s checkout web page.
This technology solution is about just a click of a button, which proves to be a low-cost option. Thanks to the widespread use of SMS and e-mail, chances are the supplier will reach a broad spectrum of customers.
SMS and email offer a high level of convenience because everyone has access to them. Customers can make their bill payments via a secure payment link. So, you just need to send a link to your customers and get paid when they pay. However, you need to use the most advanced and secure fraud prevention techniques to eliminate any security-related risk.
Expert Advice on Bill Payments
Marketing and business development professional Mark Wickersham says bill payment and client accounting services used to be left in ignorance. However, the situation has changed. Now, bill payments can be quite valuable to clients and businesses. Wickersham notes that the top reason for offering it is that you could add stickiness to a client relationship.
To make the bill payment process scalable and secure, you should set up a separate operating account so that family offices won’t pay bills out of clients’ online banking accounts.
If you need help with merchant account services, turn to a respected payment processor in the U.S. that’s dedicated to offering the most reliable and cheapest merchant processing solutions to merchants of any type and size. With a true payment expert, you can be sure to open a safe and cheap tech support merchant account geared to your specific financial needs.
Bill Payment: Technological Weakest Link
Bill payments are thought to be the technological weakest link. Recently, Pay-by-Link for bull payments has become quite popular. Work with a reputable processor to protect your transactions from fraudsters.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter, and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest-rated high risk merchant account processor in the country providing the safest and cheapest tech support merchant account in the industry. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.