Let's Talk Technology
July 09, 2018 at 10:38 PM
Preferred Payment Solutions
Almost 90% of U.S. shoppers say they carry cash, but 35% believe that digital wallets will be the main payment method by 2020.
Of small businesses surveyed, 49% say customer demand is their driving decision maker for new payment options, and 37% are looking to invest in accepting mobile payments over the next year.
How can businesses embrace these technology trends?
If you are a small business, this digital trend may seem daunting, foreign and probably costly. Start slow.
The easiest would be to use email as a method of invoicing and sending statements. Many accounting software companies offer inexpensive (or free) merchant services tied directly to your accounting software, allowing customers to pay online via a credit card or bank transfer. The added benefit is quick payment!
Consider offering an online payment portal. Utility companies, credit cards and healthcare providers are just a few of the industries that have embraced this service for their customers.
In fact, many collection agencies offer consumers online payment.Research indicates that an online portal can increase recovery by as much as 15%. Professional Collection Service launched its consumer payment portal February 1st. It’s like having a collector answering the phone to take payments 24/7!
And, don’t forget that PCS also offers an online portal for submissions, reports and account details. In fact, 66% of clients who have submitted accounts since January 2015 are using the PCS Client portal. Feedback we receive is very positive, stating it is easy to use and convenient. If you do not currently use our portal, give us a call and we will set up credentials for your account.
Professional Collection Service is committed to offering the best solutions for AR Management and we are working very hard to maximize recovery. Call us with questions and visit our website for information on AR management. We are here to help!
Professional Collection Service has answers!