Bill pay has come a long way since the days of writing checks. Yet many billers still struggle with how to modernize and ‘future-proof’ payment experiences with more flexible options.
When trying to understand the true cost of acceptance, transaction fees don't tell the full story. Here are four inefficiencies driving up the cost of taking payments.
Many banks and lenders believe their payments model is not ‘broken’ because they aren’t receiving regular customer complaints, so there’s no need to fix it—or evolve it, for that matter. However, their capabilities may be far more limited than they think, and lost opportunities could be stacking up.
With so much market share opportunity on the table, it’s mission critical for operators to optimize every aspect of the bettor experience – particularly payments.