Smarter Mobile Payment Solution: Time to Use Rich Messaging

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Mobile Payment Solution

Mobile payments including mobile wallets and mobile transfers are transactions that take place on your mobile device. So, instead of paying with cash, cheques, or physical credit cards, mobile payments allow you to do it digitally.

Digital payments are becoming the “new technology solution that provides a direct improvement to the operations efficiency ultimately resulting in cost savings and in an increase in business volume”, according to European Payments Council (EPC).

But what we want to talk about is a new form of mobile payments – The Rich Media Messaging (RMM) Payments. A rich message is the upgraded version of an SMS with the added benefits of collecting payments faster and more securely.

Many businesses are still trying to collect payments faster from customers. While telephone and post interactions are reliable, they are traditional methods which are not quick, nor efficient and can be very expensive. Take a look at how VoiceSage approaches debt collection via Rich Media Messaging by improving payment rates, automating customer journeys and reducing inbound calls.

infographic mobile payment via rmm

Collect Payments Faster with RMM

Collect payments from your customers in a secure, cost-effective way using VoiceSage’s mobile payment solution. Moreover, you can improve cash-flow management and payment rates by up to 65%.

advantages of rmm

Who Can Use Rich Media Messaging as Mobile Payment?

retail unpaid invoice text

text message demo for utilities phone vector

Does It Really Work?

A key challenge for SSE Airtricity was improving cash flow while preserving a high standard of customer service and satisfaction. For instance, the team wanted to notify and assist customers with outstanding balances without any excessive communication. The team chose VoiceSage to deliver a proactive messaging solution that could improve customer engagement, and simplify faster payments. We delivered the following results:

  • Up to 20% ROI within the first year
  • Increased payment rates by up to 50%
  • Reduced inbound calls to agents by 30%

Get Started With RMM Mobile Payment Solution

Optichannel communication is ideal when you are collecting debt. Understanding consumer behaviour in a digital world is critical to identify customers’ preferred communication channel. Embrace digital mobile payment technology and you will see an increase in customer retention and added value.

Invest in the right communication platform for your business. Finally, allow customers to self-serve and create a unified debt collection process. Get in touch today to begin your mobile payment journey with Rich Media Messaging.

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Published on: 17th November 2020

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