Bill Payments: What Will It Take to Convince Consumers?
Rising from nonexistence just a few years ago, to a full-fledged market of its own, mobile payments have grasped the attention of some of the largest companies across various business sectors. Despite the market hype and obvious consumer benefits, however, consumers have been slow to respond. What will it take to convince people to alter their payment habits?
For many consumers, mobile payments are still an abstract concept. Although it may seem otherwise, many key demographics are uncomfortable with new technology. While these non-digital natives eventually come around to newer and faster ways of doing things, adoption often takes time. The gradual transition from cash to credit card usage in the United States is a prime example. Although they’ve been around for decades, credit and debit cards only recently became the most popular payment method, and there are plenty of consumers who still prefer to use cash most of the time.
In order to convince these consumers to adopt yet another new payment method, digital wallet providers need to emphasize convenience and accessibility. From sign-up to daily use, everything about the app’s design must be seamless and intuitive. Any amount of friction in the sign up or payments process can mark the difference between a consumer who quickly integrates the technology into his or her daily life, and one who never opens the app again.
Recharges & Bill Payments: A Modern Necessity
Consumers today are constantly on their mobile devices. Whether at home or on the go, mobile phones and tablets are often the primary way people communicate with others, shop, and access their social networks and financial information.
Billers need to make a concerted effort to better engage their customers as smartphone ownership reaches an all-time high and demand for mobile service options increases. Customers want to be able to pay their bills whenever they want, through whichever device they find most convenient. Accepting payments through a top consumer-preferred channel is likely to increase customer satisfaction, especially as younger demographics come of age and enter consumer markets.
Smartphones are the new norm. Customers want convenience, flexibility, and a bill payment experience that fits seamlessly into their fast-paced lifestyles. As the world goes digital, billers need to make a concerted effort to communicate with customers and offer services on the devices and platforms they use the most. The deeper these digital devices become embedded into daily life, the more consumers are going to expect billers to utilize technology to enhance the payments process.
Following are five benefits of using an online bill payment service.
1. Easy and convenient
When you set-up an automatic online bill pay account, you allow recurring payments to be withdrawn from your account on a monthly basis against your bills. It is a one-time process, after which your bank takes over.
All your account information is organised in one centralised location. There’s never a question of late or missing payment.
2. Secure and saves you money
You don’t have to worry about exposing your personal information. Paying online also helps protect your privacy and identity by eliminating any risk associated with lost or stolen paperwork.
You’ll no longer have to pay for cheques, stamps or envelopes. You can save on the fuel costs too. By eliminating paper bills and cheques, you can reduce your impact on the environment as well.
3. You get to stay organised without a fuss
You can control when and how your bills are paid. You can choose to change or even cancel the payment request until the payment is eventually made.
4. Rewards you
Why not use your bills to earn free travel, rewards, or even cash back? If you pay your monthly bills with your credit card, you can get free miles, fuel and reward points. All these bills add up to hundreds of points each month that are credited to your credit card account.
5. Helps Your Credit Score
When your bills are set up to be automatically paid, you rarely miss a payment. When your bills are always paid on time, you get a boost to your credit score too.
The world is going digital and everyone is turning to this convenience. Just ensure you are ahead of the curve.
It offers you a chance of cream bill payments of all the paraphelics like electricity bill, gas bill, mobile biles & recharges. It provides you the best & fastest services to make any billings. It makes you feel ease and comfy for doing all your billings from anywhere in the world.