How SMS Transforms Payment Processes and Boosts Financial Success

Business owner getting the advantages of SMS Marketing in his payment process success

Late payments from clients can negatively affect your business, not just in terms of your profits but also your general ability to ensure your bills are paid. According to a recent G2 article, a staggering 90 percent of business texts are responded to within 30 minutes. What if we told you there was a way to ensure your customers had a smoother process for paying you? TrueText can improve your business income by offering a smooth payment process for your customers. 

The Payment Process 

We are past the days of the old ways of collecting payments. For example, you can buy a car entirely online, finance the car, and have it delivered to your home, all without leaving your couch. Currently, the typical payment process goes like this: 

  1. Customer makes appointment. 
  1. Customer completes the visit and then will pay a deductible. 
  1. If more payment is needed after insurance, a bill is sent for 30 days to be paid from when you receive word about what is owed and two to three days for delivery via the mail. 
  1. 30 days later, it is due, and most pay on time, but some still need to pay. You must send another payment reminder through the mail, allow two to three days for delivery, and wait for a check. 

That sounds like a nightmare. For a business owner, that is a fair amount of lost time due to the mail, waiting for a check, and so on. In fact, small-medium business owners, on average, lose 15 days a year chasing people to pay late payments. There is a much faster and easier way to interact and collect payments, and it’s TrueText. Your customers want a more robust solution, and you just need to help get it to them. 

Boosting Financial Success 

As mentioned earlier, a hiccup in your cash flow can really hurt your bottom line. The question becomes, how can we deter our clients from late payments? The answer may lie in Vaspian’s TrueText. Surprisingly, only 52 percent of businesses send invoices electronically. Talk about a leg up when using a platform like TrueText. 

TrueText allows you to interact with your clients in a non-invasive way that can help your clients and your bottom line in the following ways:  

  • Instant Payment Reminders: One of the most significant advantages of utilizing TrueText for payment processes is the ability to send instant payment reminders. TrueText can automate these reminders, ensuring timely payments from customers. This feature not only reduces the risk of late payments but also enhances cash flow management, contributing to overall financial stability. 
  • Seamless Payment Confirmation: TrueText provides an easy tool for confirming payments. It enables businesses to send payment confirmations directly to customers’ cell phones and mobile devices, whether a simple acknowledgment or a detailed receipt. This instant confirmation can instill trust and confidence in customers, foster stronger relationships, and increase satisfaction levels. 
  • Personalized Payment Updates: TrueText allows personalized communication, making it ideal for sending tailored payment updates to customers. It offers customized messages based on individual preferences and transaction histories, creating a personalized payment experience. From balance reminders to installment plan notifications, businesses can deliver relevant updates to their customers. 
  • Secure Payment Authentication: Security is vital in payment processes, and SMS is a secure authentication method. TrueText integrates security features, such as two-factor authentication via SMS, to ensure that payment transactions are protected against unauthorized access. Businesses can use SMS for authentication to enhance payment security while maintaining user convenience. 
  • Enhanced Customer Engagement: Beyond transactional interactions, TrueText encourages ongoing customer engagement. TrueText allows businesses to engage with customers through targeted promotions, loyalty programs, and feedback requests via SMS. By nurturing these relationships, companies can look forward to repeat purchases, improve brand loyalty, and ultimately increase revenue streams. 

Why TrueText? 

TrueText stands out as a business text messaging solution tailored to the needs of individual businesses. With its variety of features created to optimize communication and billing processes, TrueText seamlessly integrates SMS into payment workflows, delivering benefits to businesses of all sizes. 

TrueText isn’t just about sending messages; it’s about building stronger customer connections while streamlining payment processes.  Experience the difference with TrueText today

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