A utility payment solution provides customers with a convenient, safe and secure way to make payments for their utilities. It helps to reduce the burden on your customers and on your billing staff by automating the process of payment initiation for recurring bills. It also enables you to provide your customers with more flexible and innovative ways to pay their bills that are designed for them and with the needs of the market in mind.
With a secure and reliable utility bill payment gateway, you can provide your customers with an easy and quick way to pay their utility bills by credit or debit card. This allows your customers to pay their utility bill at any time and place that suits them, which can help to improve customer satisfaction levels. It is important that your utility billing software solution can offer multiple channels and methods for bill payment to ensure that you are able to cater for all customer requirements.
When a customer makes a payment transaction, Oracle FLEXCUBE records the payment against a product. For example, a payment made by a customer towards electricity charges would be entered into the system against a product defined for processing electricity charges payments, with accounting details and rates that you have specifically defined for a particular utility provider.
Using an omnichannel monetization platform such as iPayment, you can enable your customers to pay their utility bills through a branded downloadable app or a text message. This can be a great alternative for your older audience who don’t like complex internet-based online payment methods. It can also be a great way for your customers to keep up with their utility payments when they are away from home or office. utility payment solution