Full service payment solutions provider, Debitsuccess’ Pay Now feature is going from strength to strength with the recent addition of a Pay Now link in all the company’s SMS overdue messages.
Pay Now gives members the reins, allowing them to go online and pay outstanding fees on their membership at any time, without being restricted by regular call centre hours.
Including a personalised link in Debitsuccess SMS overdue messages is proving increasingly successful in ensuring overdue bills are paid via this medium. Since October 2013, this mechanism has increased payment collection by approximately 20%, while maintaining existing levels of collection through the contact centre.
The introduction of Pay Now has been a success because it’s well understood that consumers are swiftly adopting more of their basic financial activities through their smartphone. It’s immediate, convenient and saves hassle.
While most other direct debit companies are using a pre-debit SMS to remind customers about their upcoming payments, a recent Debitsuccess trial of such a service with a major fitness chain resulted in something surprising.
At the outset, we were anticipating the pre-debit SMS service would be well received and result in more payments being made on time. The outcome was much different; with the reversal rate (payments defaulting) actually increasing by 5% to 15%.
This data suggests that pre-debit SMS reminders will not provide the return on investment you would expect from such a service – however the numbers speak for themselves and the ‘Pay Now’ format is having increasing success.