Customers easily approve payment through texts for subscriptions and automated billing.
Problem:
For businesses that rely on recurring or subscription payments, setting their customers up with automated monthly payments is a no brainer. But for their customers, automated payments may not make as much sense. Most consumers prefer to have control over their money and transparency when payments are taken from their card or bank accounts. Flexible, efficient payment options are incredibly important for both parties.
Solution:
Authvia’s TXT2PAY product line provides the best of both worlds: efficient, automated billing for businesses and payment control for consumers. For any consumer not enrolled in autopay, the business can automate a payment request with the details of the bill. The consumer will receive the text immediately and can approve the payment with a 4-digit code. They can approve immediately with their card on file, or change their payment method, or wait a few days to approve once funds are available. The business can also set up automated reminders for unpaid requests.
The value of TXT2PAY extends to customers on automated recurring payments as well. In the event an automated payment fails (card has expired, insufficient funds, etc) a payment request can be sent to that customer requesting a new card. The customer can quickly enter their new card and pay without the business having to reach out to the customer. Optionally, Authvia can take that new card and tokenize it with the business’s processor of choice and return the new token to their card vault.
Products used:
- Payment Conversation
- Token Sync
