If you are thinking about changing your customer payment and billing system, then you will want to consider switching over to EFT billing services. EFT stands for electronic funds transfer and is a payment method that is designed to replace sending an actual paper check. This is a method that allows you to make a payment online rather than sending a check or money order through the mail.
There are many great reasons to make the switch over to EFT billing services. In fact, there are ample benefits for both you and your clients alike. When you make it possible to make payments online, then you are alleviating the need for your clients to have to send a monthly check. This will help them as they can save money on late fees that may be incurred if their check is late or if they forgot to mail it. This will also save the company money as you can expect regular payments and won’t have to track down any missing payments or checks.
Another benefit of EFT billing is that it is fast. No longer will you have to wait for a check to arrive in the mail. If the check is lost in the mail, then no longer will you have to cancel it and then wait for the new check to arrive. Rather, the client can easily log into your system, which is set up to be safe and secure with encryption in order to protect their accounts, and make a payment.
There are numerous benefits for choosing to switch over to EFT services. Listed here are the top five facts regarding EFT billing services:
- All of the transactions can be done with either a credit card or a debit card.
- The payer can also choose to initiate a direct deposit payment method.
- EFT billing can also work when the business directly debits the account of the consumer on a regular or one-time basis for their goods or services.
- EFT billing can also be used in order to complete wire transfers. These can be done through an international banking network.
- You can also pay your bills using EFT services and is done through your online banking system. This can be set up to either send the funds directly to the companies account or can also be set up to send a paper check directly from the bank to the company.
As you can see, these were just five of the many facts that you can find about EFT services and billing software systems. If you don’t have online payments set up yet then you will need to consider doing it as it has been proven to help increase your revenue while also keeping your customers loyal and buying your goods or services.
If you need to find the right company to work with, then you may want to contact the experts over at Debit Success. They can answer all of your questions regarding EFT billing.