Benefits
Gain valuable benefits by offering bill payment with Visa
Visa’s Automatic Bill Pay allows you to present your customers with ultimate convenience while cutting your back-office costs.
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Obtain timely payment
Automating your customers’ bill-paying not only guarantees you timely payments, but it also helps with better cash-flow management.
Streamline payment processing
Payment cards improve cash flow by giving your customers more flexibility in how they pay bills. Automatic bill payment charged to a Visa card also ensures on-time receipt of payment and helps lower billing and collection expenses.
Reduce handling costs
In addition to the cost of handling checks and cash for your business, there are also many other hidden costs–remittance processing, lockbox fees, insufficient funds charges, billing and statement mailing, and collection agency fees. Accepting Visa cards for all of your customer payments helps provide a way to cut handling costs and also eliminates many miscellaneous expenses.
Increase customer loyalty
Visa operates with the simple formula that, if you give people time, they’ll give you business. By automating your customers’ bill-paying, you make it convenient for them. Convenience frees up time and breeds satisfaction, and satisfied customers stay with you.
Increase revenue
Automatic bill payments with a Visa card can increase sales by attracting new customers and retaining existing customers. According to Visa research, Visa cardholders who sign up for automatic bill payments tend to be more highly educated and have higher income levels.
More Visa Automatic Bill Pay benefits
- Visa has made Automatic Bill Payments a priority, with a significant commitment of resources, strong merchant partnerships, and a focused market penetration plan.
- Even in areas where card acceptance is high (e.g., telecommunications, cable pay TV), Visa has formed a number of partnerships that increase acceptance on a daily basis.
Merchant acceptance of automatic bill payments tends to drive usage. For Automatic Bill Pay to grow to its full potential, acceptance rates will need to increase across most industries.
* All research is from the Visa and Dove Consulting studies.
