Advance your business with SMS payment and online payment portals
With the BNPL (Buy Now Pay Later) movement in full swing, many industries have already embraced flexible payment options. This includes SMS payment with online portal options for their customers. In the auto repair industry, this has not been the case. However, customer requests suggest this should be capitalized.
Convenient and time-saving features are top of mind for consumers. It seems that no one has time to queue anymore. Most of us are so time-focused that our phones are now widely used for payments because inserting a chip credit card into a card reader takes too long.
This article will review the features and benefits of text-to-pay, and how this system can make consumers’ lives a little more convenient and how using text-to-pay can make your business look more modern – allowing you to potentially serve more customers.
First, it is essential to ensure that your company’s online payment portal provider is Payment Card Industry (PCI) compliant.
PCI compliance is the technical and operational standards that businesses follow to secure and protect credit card data when processed. You can talk to your supplier for more details. But, be sure to ask for everything in writing, including & & all fees and charges.
One of the characteristics of text-to-pay is the convenience of the process. In the steps to complete the transaction, the customer receives a text with a link to a website that will collect the necessary information to then complete the transaction.
Countless studies have shown that text messages are read almost 100% of the time and within a 10 minute window. And with 77% of the US population owning a cell phone, SMS-to-pay is quickly becoming the preferred method of communication. Customers can choose to complete the transaction when they first receive the text message or wait until later at a time convenient to them.
Automation adds to the overall convenience of text-to-pay. One of the benefits of automation is that it reduces unproductive work, such as manually collecting a customer, printing the invoice, securing a signature, and closing. In an automated environment, a text is sent; the customer is responsible for reading and examining the invoice; enters their credit, debit or ACH payment card information; and finalize the transaction. The seller then receives an SMS notifying him that the invoice has been paid. And depending on the integration with the store’s POS software, the seller may not have to do anything to finalize the ticket or may only need to click a few buttons to complete the process. Ultimately, this can significantly reduce administrative costs year over year. Salespeople can now be more productive – focusing on closing more sales.
Additionally, under the umbrella of flexibility, your business has the option of using a simple web portal, which can be fully customized (if required) allowing sales reps to quickly access invoice and payment history. , which makes the whole process seamless.
Plus, when paired with an exterior, secure key management system, your staff can avoid the rush of customer pickups and checkouts that so many locations experience every day. While many of these companies prefer conversational interactions with humans, integrations like this can streamline collections at an efficient speed and at their convenience.
Ease of use is another feature. Many customers have already downloaded their credit card information to their phone. So when they are prompted to use the link to access the portal, they won’t even have to enter the credit card number. It will be filled automatically. For most modern cell phone users who prefer texting as a communication tool, this is a safe and “no-brainer” solution.
Flexibility will be the key to getting ahead in the automotive service industry. Customers are increasingly looking for personalization in almost all of their retail experiences. They also perceive flexibility as something that empowers them. As with the choices of products to buy, consumers are looking for several methods to make their purchase.
Take the time to invest in the future of your business and make it easier for your customers to purchase your products and services. Invest some time comparing SMS payment methods and alternative payment options and channels, all while keeping your customer in mind – ensuring you can adapt to the ever-changing marketplace.
To learn more and find out how partners, including Snap Finance, can help you and your e-commerce business exceed customer expectations, click here.
This item is part of SNAP! Finance Series. As more articles are released, they can be found below:
Selling 101: what it is, what it does and how it helps YOUR business
The benefits of alternative automotive financing solutions
Payment options and payment methods
The short and long term future of automotive service financing