From its simple user journey to the speed at which you can collect payments, Pay by Text is evolving the mobile payment experience – one transaction at a time. And while collecting payments has traditionally been a long and complex process, SMS continues to prove that there are better ways to pay.
The proof is in the numbers
Did you know that businesses that use a text payment gateway get paid 85% faster than businesses that don’t? When it comes to the usually long and complex process of bill collection, this kind of turnaround is a real game changer – especially for small businesses with limited resources and local governments with extended collection times.
And that’s just the start.
98% of text messages are opened, and about 90% are read within 3 minutes, which means that payments can occur just moments after texting out an invoice
77% of users have a positive perception of companies using SMS, making the act of paying by SMS a natural step in the right direction for all types of businesses
In 2022, mobile usage increased by 23 minutes a day (compared to 2018), so odds are your request for payment is reaching your audience, no matter where they are
71% of consumers expect a personalized experience, which is a benefit that Whispir makes easy to create and keep consistent for all text message payments
Over 50% of Americans have made purchases on mobile devices, which means your audience is already open to the idea of streamlining their mobile payment experience
And a stat that speaks for itself: 62% of customers under 35 would frequently or always pay via text if they can
Backed by our long history of providing reliable and streamlined communications, Whispir elevates the mobile payment experience by automatically including the following benefits:
Rich text messaging
Whispir’s rich text capabilities help to create an engaging experience, even when it comes to simple mobile payments. When customers receive a text for payment, they’ll be able to view the invoice and accompanying info with the help of hyperlinks and imagery. Plus, by clicking on an embedded payment link, businesses can easily take customers to a branded microsite where they can complete the SMS payment, fill out payment information, and more – while remaining immersed in unique brand messaging.
Automated escalation
Whispir cuts out the middleman by automating follow-up payment reminders. So, instead of manually identifying, creating, and requesting payment multiple times over, our automated workflows can be used to prompt text reminders. By taking this work off the plate of team members that are already stretched thin, they’ll be able to focus on more important tasks.
Personalized payment options
Because the Pay by Text payment method removes the need for in-person and voice-only transactions, Whispir helps businesses deliver a positive customer experience with the help of personalization tools. Going beyond the simple act of using the customer’s name, Pay by Text messages can be personalized by tone thanks to our sophisticated Tone of Voice tool.
Right time, right place messaging
With mobile payments completed via text message, businesses can meet customers where they are – on their phones. This means there’s never a wrong time or place to request payment. And because this happens through the native text app, customers are alerted right away, ensuring that messages have been seen.
Plus, Pay by Text makes repeat purchases easier than ever. For instance, if a customer has paid via text before, they can complete subsequent transactions without ever leaving their native text messaging app. They can be given the option to pay in-text with a series of simple SMS prompts (e.g. respond YES to pay now with the card on file), once again removing the barrier to quick and convenient collections.
SMS payments on-the-move
Text pay eliminates the need for a physical point-of-sale (POS) system. This makes it easy for businesses to make home visits and get paid at the time of service, rather than relying on a follow-up bill or email that can get lost in transit, in a spam folder, or overlooked by staff during peak business hours.
No download required
One of the best parts about Pay by Text is that it’s not an app. For businesses, this means there’s no need to develop and maintain a costly mobile application, and for customers, this means there’s no need to download yet another app to their cell phone for a potential one-time transaction.
Trustworthy transactions
While Pay by Text is a cost-effective and convenient method for collecting payment, it’s also a secure option when customers are handing over their mobile phone numbers. Whispir helps to keep customer payment and personal information secure with built-in PCI and HIPAA compliance – all on a platform protected by encrypted authentication access.
Buy now, pay later
With Splitit partnering with Pay by Text provider, Everyware, buyers have the ability to “buy now and pay later” – a customer service solution that meets the needs of buyers across the globe. Splitit allows buyers to make purchases they’d otherwise skip without worrying about pre-approvals.
“The result will be an uncluttered, simplified experience embedded into the merchant’s existing purchase flow,” the companies said at the time. “Splitit’s use of global credit card networks also means merchants can easily add its service to new countries or regions through a single integration.” – Colt McCutcheon, Splitit CRO
A new way to pay with Whispir
If you’re looking for a mobile payment solution that decreases collection time and keeps payers engaged, head to our Pay by Text page to learn more. You can also schedule a one-on-one demo to see how Whispir elevates the entire mobile payment process.
