Keeping a credit card on file is a convenient best practice for companies that know they will need to take payments later, once an order has been fulfilled or work is completed.What Does Card on File Mean? Card on file (COF) transactions allow companies to capture and store payment details from customers. The details are securely stored so the business …
Hosted Payment Page Options from No Code to Low-Code
Customers expect companies to offer online payments. If your organization doesn’t accept online payments (or your online page is confusing, outdated, or doesn’t match your website) your business is losing money. Hosted payment pages are now a must for any company that wants to: Stay competitive Make paying easier for customers Save staff time by reducing manual work Bring in …
Payment Workflow Examples to Increase Business Cash Flow
Payment workflows (like sending customer invoices with payment requests) are an integral part of your business sales cycle and customer experience. Many companies that accept B2B payments – or provide their goods and services before collecting payments – need to think about the full customer journey, including billing workflows.What are Workflows? A workflow is any repeatable process your business uses …
How to Reduce Past Due Invoices
When a customer pays late, it may seem like no big deal. However, if you make a habit of accepting past due invoices from customers, you’ll start to notice it in your bottom line. To keep your business healthy, you should minimize how many overdue invoices your company has open at one time. How to Collect More Past Due Invoices …
Credit Card Fraud Prevention Tips for Online Payments
Self-pay options increase revenue and improve the customer experience. But online payments can attract scammers too. Following basic credit card fraud prevention measures keeps both your business and your customers safe. Depending on the online payment portal your company uses, preventing credit card fraud can be mostly automated. However, your business should still understand these basic best practices on how …
Email Deliverability and Your Payment Communication Strategy
How confident are you that payment reminders, invoices and other business communications are making it to the inbox? Email deliverability is how your emails consistently end up in the right place. Do you know what steps vendors take to ensure customer communications work the way they need to?Email as a Digital Payment Strategy Email is an essential channel for customer …
3 Payment Software Adoption Goals for Small to Midsize Businesses
If you are evaluating your company’s payment software and communication workflows, you need to look not only at existing processes, but at the tools you’re using to engage customers. Many managers have inherited payment software solutions they never would have chosen or don’t fully understand how to use. This causes problems in an organization from expensive or inefficient processes to …
Payment Negotiation Tips for Past Due Accounts
It’s never a bad time to learn new debt negotiation tips or refresh yourself – and your team – on the best practices for negotiating payments on past-due accounts. Accountsrecovery.net hosted a webinar with three credit and collections experts to discuss payment negotiation tips for accounts receivable teams:Beth Conklin Account Executive State Collection Service, Inc.Mike Hiller Vice President of Collections …
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