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Traditional v. AUTHVIA Transactions: Welcome to the Future

August 15, 2023

Posted by Authvia | 2 Minute Read

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  

https://www.mastercard.com/news/press/press-releases/2020/april/mastercard-study-shows-consumers-globally-make-the-move-to-contactless-payments-for-everyday-purchases-seeking-touch-free-payment-experiences/ 

Ready for a Demo?

Speak to a member of our sales team to learn more.


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