
Biller's overall card acceptance costs
Billers face more challenges and opportunities than ever before. Consumers have − and are demanding − new ways to receive and pay bills. Emerging payment channels and methods seem to arise constantly. In many industries, convenience of payment is a critical consumer need and source of competitive differentiation. Even as payment types are multiplying, receivables operations are being challenged to improve Straight-Through Processing (STP) by eliminating costly payment exceptions like errors and returns. Historically, large billers focused on the costs of payment acceptance and posting, but billers are now increasingly focused on customer satisfaction and retention through convenient payment options that improve ease of payment posting.
This white paper elaborates further on the balancing costs, risks, and client satisfaction when offering consumer payment options.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more