Responds to growing customer desire for SMS payments
MerchantE, a leading end-to-end digital commerce platform, has added a text-to-pay option to its recently launched MerchantE Invoice solution to offer another way to make payment more convenient for customers.
With text-to-pay, a business can send a notification via text that an invoice payment is due, and customers can pay the balance by simply replying to the text. As with other text-based services, customers must opt-in to enable the service, then they select the payment method of their choice. The service supports payment by all major credit and debit cards, as well as ACH.
Enabling businesses to offer text-to-pay addresses increasing customer demand, especially for businesses serving clients under age 35. According to one 2020 study, 35% of customers want to pay by text message, but only 4% of small businesses offer it as a payment option.
“Text-to-pay is yet another way businesses can simplify the payment process for clients and improve the customer experience,” Mike Rouse, CEO of MerchantE, said. “Since more convenient payments often lead to faster payments, businesses can benefit from improved cash flow. And offering text-to-pay can lead to a significant competitive advantage for small and mid-size businesses.”
Text-to-pay is a feature of MerchantE Invoice, an electronic invoice (e-invoice) solution that simplifies the billing process, reduces costs and allows businesses to get paid faster. Users can create and send e-invoices via email and text, with a link for customers to conveniently pay online with their preferred payment methods.
The new text-to-pay feature now gives customers an additional option to receive text notifications of payment due, and they can authorize payment with a simple text reply. Using an e-invoice solution, businesses can reduce time, errors and costs associated with sending paper invoices and can expect to reduce days sales outstanding by making it easier for customers to pay.
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