Connect with us

Business

Text To Pay: 5 Reasons To Accept SMS Payments In Your Business

The future of business is expected to rely heavily on mobile technology. In this article, you’ll see five reasons why your business should start accepting SMS payments.

mm

Published

on

Mobile app for business

It’s generally believed that over two-thirds of the world population owns a mobile phone. Additionally, these phones are connected to their banking details and SMS services from their respective mobile phone service providers. As a result, many businesses are leveraging convenience with their customers through mobile phone-driven services. One of the recent developments in the use of mobile text messages to pay for products and services.

Many customers regard mobile phone payment through messages as convenient and secure. Furthermore, the process is simple and clear to understand. You don’t need to remember too many passwords. You can text to pay at the comfort of your home if the business from where you’re purchasing is synched with mobile phone service to receive payment text messages.

The future of business is expected to rely heavily on mobile technology. Therefore, if your business doesn’t allow customers to use this mode of payment, it might be high time to take the bold step of accepting SMS payments. In this article, you’ll see five reasons why your business should start accepting SMS payments. These are:

Convenient By convenient, it means you can meet with your customers where they want to pay from and how they’d like to do it. It’s believed that almost every mobile phone user keeps their phone within an arm’s reach most of the time.

It’s generally accepted that many mobile phone users may spend an average of two to three hours daily on their phones’ chat apps or social media platforms, like Facebook, WhatsApp, Twitter, and Instagram. Their engagement with mobile phones might also grow as there’s more content available on other platforms, such as YouTube, where you can watch videos.

Because of the proximity of the phones to users, banks send alerts to loanees as a reminder to repay installments through SMS. It’s easier to see a text message than an email, which might be seen days later. Such a high level of convenience in paying bills can result in on-time, stress-free transactions through the mobile phone messaging app.

5 Reasons To Accept SMS Payments In Your Business

1. Speed

Unlike the use of documents in a banking hall, the process of paying your bills via SMS is speedy. What you need to do is to initiate the method of payment through your mobile phone service provider. Afterward, key in the required details of your account and the recipient’s account, and then send the message. Depending on your business’s system, your customer must follow a simple procedure that can be done in two to three minutes.

In case your account doesn’t have enough funds to settle your bill, you’re notified instantly. To complete your payment process, you can choose to replenish your account from another account using the SMS service. Once this transaction is completed, you’ll receive a text message notifying you that the transaction was successful. SMS payment removes the need to go online and log in to a particular portal to complete a process through SMS quickly.

2. Secure

SMS payment is a method that ensures that your customers are safe from phishing and other forms of online scams. On the other hand, it also protects you as online transactions can be an entry point to your business information by hackers.

Once a client has made a payment to your bank account, you’re notified that your account has been credited. Additionally, with a text message payment service, you can reverse a transaction that was done incorrectly on the spot. Your finances will then reflect in your account in a matter of minutes when changed.

3. Personalized Service

When you’re signing for a text-to-pay plan, you can provide your mobile number, payment funding method, and your communication preferences during the enrollment process. These pieces of data allow you to receive a personalized customer experience.

5 Reasons To Accept SMS Payments In Your Business

If you’re enrolling for a regular payment plan, you can specify how many days you want to receive an alert before the date is due for payment. Giving your customers the ability to choose when and how this communication is done helps you deliver a customer-tailored service according to the needs and preferences of your clients.

4. Reduced Administrative Costs

With text-to-pay services, you can eliminate the handling of credit cards or other manual work involved in paying your bills. On the other hand, as a seller, you cut down the level of paperwork in depositing finances. As a result, reduced administrative works leads to lower associated costs.

5. Wrapping Up

The future of money transfer will largely depend on text to pay services. Good network coverage and acceptance of the service by both customers and sellers are the driving factors. Billions of dollars are transacted daily through SMS payments.

The competition has taken the stakes high to give your esteemed customers convenience, speed, and security while sending money. Additionally, text to pay can help you provide personalized services and reduce administration costs for your business.

We are an Instructor's, Modern Full Stack Web Application Developers, Freelancers, Tech Bloggers, and Technical SEO Experts. We deliver a rich set of software applications for your business needs.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.

Business

Upgrades That Will Help Your Business Thrive

Once you’ve identified your goals and how to attain them, you can then grow your business in specific areas according to what you want to achieve.  The following 13 upgrades cover common areas of business that typically need developing:

mm

Published

on

Upgrades That Will Help Your Business Thrive

Continuous improvement should be the primary goal of any business.  While it takes time and effort and some financial outlay, it’s crucial to continue growing and striving toward becoming the leader in your field.

This guide offers 13 ideas to help your business grow, increase your customer base, improve your productivity and boost your bottom line.

Start With A Solid Foundation

Before you commit to growth you should ensure your business is built on solid ground.  Here are some tips to help you begin:

Know your business – the use of tools such as benchmarking, market research and trend analysis will help you get a better picture of the factors affecting your business.

Take charge of your finances Make a commitment to understanding your daily, weekly, and monthly figures. Unless you have a dedicated accountant, you need to have a thorough understanding of your financial situation.

Prioritize your goals – identify those business goals which can be achieved relatively quickly and those which will require more time and financial investment. Make sure the goals you set are relevant and can be achieved in a realistic timeframe.

Develop a plan – once you’ve identified your goals, you will need to develop strategies to realize them and the best means of implementing those strategies.

Make your results measurable – work out how you are going to measure your results.  You may want to introduce devices such as a point system or desired percentage increase.

13 Ways To Upgrade Your Business

Once you’ve identified your goals and how to attain them, you can then grow your business in specific areas according to what you want to achieve.  The following 13 upgrades cover common areas of business that typically need developing:

Include reviews – today’s consumers place great value on the opinions of their peers when it comes to buying products. Upgrading your website to include customer reviews will help to increase sales and boost customer confidence. Be sure to include both good and bad reviews if you want to be taken seriously.

Upgrade your internet an upgrade to FTTP (fiber to the premises) now will pay big dividends for your business down the line and it doesn’t have to cost you anything.  Qualifying businesses connecting to high-speed NBN plans can enjoy a $0 upfront cost.

Computer Monitor and Other Remote Work Must-Haves

Introduce automation – there is a multitude of software and applications designed to reduce labor costs and increase productivity. Many are inexpensive and can free up small business owners, allowing them to focus more on growing their core business.

Increase your social media presence – rather than just a Facebook page and a presence on Instagram and Twitter, you should look at other forms of customer interaction such as articles, sponsorship, blogs, and webinars.

Start networking – as well as an online presence, you need to get out there more and attend industry-related events such as expos and seminars.  This is, not only to network with others in your field but also to forge new contacts with like-minded businesses, with cross-promotion in mind.

Create a rewards program – think of ways to reward your existing customers to maintain their loyalty and incentivize them to buy from you again.  These could include early access to specials and exclusive offers not available to the general public.

Create an email list – email addresses of existing customers are a valuable resource you should be taking full advantage of.  Send those on your mailing list regular reminders of what you have to offer, but make sure it’s valuable content rather than what could be perceived as spam.

Ask for feedback – another valuable resource is your customers’ opinions.  Ask them what they think of your products and then use this feedback to improve your product line and customer service.

Streamline your business – identify which products aren’t selling, which employees aren’t performing and any other areas that may be holding you back.  Make changes and be ruthless on behalf of your business.

Reduce overheads – look at ways to cut costs within your business such as transitioning to a remote workforce or outsourcing business processes such as payroll, HR, and bookkeeping.

Invest in your people – good staff morale translates into good customer service. Provide your employees additional training, advancement opportunities, and a fair wage to ensure a healthy company culture.

Improve your credentials – reduce your carbon footprint, introduce sustainable processes and practice corporate responsibility in order to retain and grow your customer base.

Increase cybersecurity upgrade your cybersecurity systems to make sure you are protected from the latest threats from hackers, malware, etc.  This is particularly important if you have a remote workforce.

Roughly half of all small businesses don’t make it past their fifth year of operation, so continuous improvement needs to be a priority from day one. Adopting just a few of the measures suggested here should help keep your business on trend, competitive, and above all, profitable.

Continue Reading
Advertisement
Advertisement
Internet2 days ago

How do collect and train data for speech projects?

Business1 week ago

Upgrades That Will Help Your Business Thrive

Games1 week ago

Tips And Tricks That Will Help You To Win Big In Escape From Tarkov

Insurance2 weeks ago

How To Improve Your Company’s Workers Comp Management Process

Entertainment3 weeks ago

Dear Father Gujarati Movie – The Father – Dear Father

E-commerce3 weeks ago

4 Communication Tools You Need to Integrate in Your Ecommerce App

Software3 weeks ago

Pricing For Profits: Three Simple Rules To Price Your Product

Security3 weeks ago

Cloud Security – Why It’s Important For Your Business

Cloud Computing4 weeks ago

Make Sure You Avoid These Cloud Computing Mistakes

Business1 month ago

How Zuper’s Disaster Restoration Software Helps Service Businesses Operate More Effectively

Advertisement
Advertisement

Trending