A Fiserv Billing Household Survey found that nearly three out of five households used the internet to pay a bill in 2011. Since then, that number has gone up. As a result, many businesses need to partner with utility billing services to develop the infrastructure and systems needed to handle online payments. Making online payments is easy for consumers — which is largely responsible for its growth in popularity — but can be quite challenging for businesses. Billing companies will not only be able to provide the necessary software, but also information and advice about how to handle online payments, making them a great resource.
Electronic billing services should always emphasize to their clients that making payments is as easy as possible. Keeping users in mind is vital when developing a website or system for online payments, especially for utilities. The Fiserv survey found that 40% of people will turn to a company website when they need to make a last minute payments, which emphasizes the fact that quick options are often needed.
On top of that, a TWI Utility ePayment Study in 2011 found that 62% of consumers will opt to make a quick payment, rather than register, when paying a bill. This happens because people tend to be busy and in a hurry or simply have “password fatigue” and don’t want the hassle of remembering another password. Keeping that in mind will be important for every business who wants to provide the most convenient payment option for customers.
Reliable utility billing services will also have to place an emphasis on consistency and reliability. Establishing trust is important for companies looking to build a large, loyal customer base, and inconsistencies or constant billing problems could cause customers to look elsewhere. In order to prevent that from happening, billing systems will have to not only be convenient, but consistent as well.
Companies who depend on consistent and accurate payments from their customers to thrive in today’s marketplace should invest in electronic billing systems and solutions. In the past, paper billing through the mail might have worked, but consumers and businesses alike move much faster than ever before. The majority of people already make payments online, and the number of people who do will continue to grow. So partnering with dependable utility billing services who understand the most important aspects of online billing will prove to be quite worthwhile.