Much like all customer-focused companies, we are in the business of continuous improvement and we appreciate all the merchants who have faith in our vision of transparency through the Flat Rate model. But in addition to the in-person and online processing, that all our merchants know and love, we have found that we could have done a better job for you by driving home that we are in fact a full circle payment solutions provider. Not just a credit card processor.
As we approach the end of yet another successful year, it's hard not to reflect on 2017 and as I think back we could have undoubtedly communicated more, making sure that all merchants know that we can handle ALL things payments! Though I'm confident our Account Executives do their best on each call to make sure that we accommodate all your requests, it’s apparent that we should be asking more questions to make sure you are not unnecessarily outsourcing things outside of traditional face-to-face credit card acceptance.
Mobile Payment Apps We are finding more and more that medical practices are taking an iPad or Tablet into the exam room to collect co-pays, etc. and they are signing up with solutions like Square or PayPal to do so. Unfortunately, in this scenario, the cost is often double what it should be (starting at 2.75% and going up from there). Singular Payments can simply add our mobile app option to your existing account and enable you to accept cards on the smartphone or tablet of your choice by downloading the FREE app.
Billing & Collections Historically, the process of sending bills for outstanding balances has been known to be a service that is outsourced. However, with technology innovations today, we can literally make any bill electronic - in turn eliminating the waste of paper statements and delivering them with multiple payment options that give the bill-payer a choice to pay how they feel comfortable (click-to-pay, text-to-pay, call-to-pay (IVR), etc.) yielding increased collections and expediting profits. According to Fiserv, "The expectation of multiple payment options does not vary depending on the type of biller" in fact their studies show that "79% of people expect local service providers to offer the same options as large national companies".
E-Checks/ACH Still taking paper checks to the bank? Now that Singular Payments is part of the Payment Data Systems family we have some new perks to share with merchants. Payment Data Systems’ Same Day ACH credit payment option has been successfully operating for the last year, and they recently announced the addition of same day debits. These innovations offer a new option to pay bills faster, and ultimately gives consumers and businesses more flexibility in their payment processing needs, as well as better cash management.
Same Day ACH payments enable a variety of transactions such as an urgent bill payment, same day payroll, faster payments for internet and point-of-sale purchases, and invoice payments. Until now, all ACH debits have been "next-day" payments; that is, transactions are completed one day after they are initiated.
Gift & Loyalty Cards With Christmas right around the corner gift card sales will naturally increase. Part of the Payment Data family is also the Akimbo Prepaid Mastercard®. Kicking off your Akimbo Card incentive program is easy, and you can custom design your cards with your company logo, slogan and more for a special occasion, company anniversary, event, etc. With Akimbo, you can also buy in bulk to snag a great discount. Contact Akimbo now to get started or learn more. Learn more about the Akimbo Card Fees HERE.
We thank each of you for your continued business and especially appreciate you taking the time to read our blogs. Please do not hesitate to give us a call with any questions regarding all of the various payment methods available through your partnership with Singular Payments.