Your business runs faster-than-fast, so why are your transactions slower-than-slow?
Hint: Because you’re still using the traditional transactional model. Which means your payments are partying like it’s 1999. AUTHVIA modernizes payments. So, let’s talk about how you can take a step in the right decade and drastically improve the way your business completes transactions.
The Traditional Transaction
Transactions have run the same way for decades now: on a paper trail. The downfalls of this traditional model make business owners’ and consumers’ lives significantly less efficient.
Basically, the Traditional Transaction model is…
Difficult
- Excessive number of steps to receive payment
- 30% of your finance team’s time is spent on reconciliation. 40% of the typical Accounts Receivable team’s time is spent on manual bill collection. All of which adds up to “uh-oh.”)
- Long invoices and paper trails
Slow
- Snail mail (time to cash for mailed payments is 45 days)
- Ignored emails (the average email open rate is 36.5%1)
Risky
- Payment information easily misplaced or stolen
- Employees have access to sensitive cardholder data
The AUTHVIA Transaction
Let’s meet customers where they are – on their smartphones.
78% of U.S. adults prefer to use their smartphone or another online platform to make a payment.2 So, let’s cut out those extra steps with AUTHVIA, the conversational commerce engine.
AUTHVIA’s patented TXT2PAY® solution works in your customer’s text messages. They can make secure transactions like payments, approvals, signatures, and tips without leaving a message thread. No app. No phone call. And absolutely, positively, no paper.
Authvia is..
Faster
- Texts get replies (the average open rate for texts is 98%2)
- Time-to-cash goes from 45 days to 21 hours
Easier
- Payment requests via text message
- No manual input of information
- Automated payment completion
- Increased consumer engagement without direct employee engagement
More secure
- Highest level of PCI compliance
- Sensitive data encrypted and kept in a digital vault so not even employees have access
With contactless transactions, you get 10x faster time-to-cash.4 And you save employees’ time. So, they can focus on their day jobs!
Learn more about how AUTHVIA can optimize your business transactions – so your operations can meet the new millennium: https://www.authvia.com/
1 https://blog.hubspot.com/sales/average-email-open-rate-benchmark
2 https://www.forbes.com/advisor/banking/banking-trends-and-statistics/
3 https://www.gartner.com/en/digital-markets/insights/the-future-of-sales-follow-ups-text-messages