Four Questions When Considering a Self-Cure Payment Site

Self Cure Payment Site

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Do you need to find a better solution for your consumers to pay online?

The industry trend in debt collection payments is for consumers to self-cure, usually through online payment portals. This channel is one of the most efficient ways your office can receive payments. Online payment portals are faster and more reliable than receiving a check in the mail–a payment option consumers no longer prefer to use.

Although self-cure online payment sites have emerged as the most popular way to engage consumers, not all payment sites are the same.

Check payment processing research off your to-do list by addressing the following four questions. Review your payment procedures and ensure they are maximizing your profitability.

QUESTION 1: Can Your Consumers Easily Find your Self-Cure Payment Site?

Many systems require the user to jump through hoops to get logged in. Sign-ins that require account numbers and security codes many people don’t keep on hand can frustrate the consumer, who then fails to complete their payment.

What’s more, because consumers browse the internet more than ever on smartphones and tablets, it’s important your payment system works intuitively on any size screen. The self-cure payment website must allow the consumer to see and interact with all portions of the payment screen. This mobile-friendly payment portal is especially important to young consumers, who are more likely than any other age group to be paying their bills online.

QUESTION 2: Is Your Online Payment Portal Easy to Use?

Research shows that consumers are impatient. When interacting with your payment portal, a frustrated consumer may abandon their payment if the system takes too long or is too hard to navigate. This not only prevents you from receiving the current payment, but decreases your chance of collecting from them in the future.

Studies show you must get the consumer to the final payment screen within six clicks, including any legal disclosures required. The fewer the clicks and the easier the site is to use, the more money you will make. To learn more about the research on the six clicks rule, read: Whatever the Question Is… The Answer is 6 Clicks.

QUESTION 3: Is Your Self-Cure Payment Site Intuitive?

Does your site accept more than one form of payment? Today’s customer-centric business strategies require multiple payment options for consumers. A self-cure payment website that only accepts a debit card is leaving money on the table. You must include multiple options– debit cards, credit cards and electronic checks–to serve the needs of every customer.

Sites must allow the consumer to navigate their payment smoothly and get the account quickly resolved the first time the consumer is online. Often, you only have one chance to get a payment on an account. If the consumer concludes your site is too difficult to navigate, they will not return.

QUESTION 4: Is Your Self-Cure Payment Site Compliant?

The process must provide proof of consumer authorization, provide information regarding  regulations and mandatory disclosures, and receive the payment, all within the 6-click window.

Also, check whether the payment site reduces your PCI Scope. That is, does it encrypt, tokenize, and securely store the credit card information up to PCI standards and keep sensitive card data off of your servers or networks?  This greatly reduces your liability in the event of a security breach.

Signing with a self-cure payment processing company that can address each of these four factors will increase your profits and maximize your efficiency. PDCflow understands the needs of the debt collection and account receivables industries and has designed a system that checks off the ‘must haves’ for a self cure payment site.

Learn more about PDCflow’s Self-Cure Payment Site or please call 877-732-4814 to speak to one of our Payment and Compliance Specialists.

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