Invoicing via credit and debit cards
As technology advances, the time-consuming process of manual invoicing and paperwork is becoming a thing of the past. Thanks to automated billing services, also known as remittance payment processing, merchants can efficiently collect outstanding invoices by utilising their customers’ card details.
Automatic Credit Card Billing
Automatic monthly payments can be processed in two ways:
Automatic Monthly Payment: In this method, payments are automatically deducted from the customer or client’s bank account using their card details. An email confirmation is then sent to verify the transaction. This type of invoicing is commonly employed for transactions like memberships or subscriptions. It is especially useful when payments remain consistent throughout the contract period.
Online Invoice Payment Processing: This approach differs slightly from the previous one. When a payment is due, an email notification is sent to the client or customer through a CRM or accounting system. Unlike traditional paper invoices, recipients can make payments with a simple click, known as ‘pay-by-link’. They enter their card details and confirm the payment, and both the merchant and customer receive a receipt. This hassle-free automated billing service allows merchants to allocate their time elsewhere, reducing the need for manual invoicing and chasing down missed payments.
Automated Billing System
We often receive enquiries about automatic billing software and how it operates. Most up-to-date CRM and accounting systems are equipped to generate automated billing. Our industry experts can assist in integrating this feature into your current system. To enable online invoice and payment processing, you will require a merchant account and an e-invoice-ready payment gateway. To learn more about how a payment gateway functions, click below.
Collect Invoices via IVR Payment Telephone Line
Some businesses, like debt collection, opt to save time on invoicing and accept payments over the phone by utilising an automated service known as IVR (Interactive Voice Response). Customers can call in and make payments 24/7, 365 days a year, without the need for staff to collect card details over the phone.
Clients can input their card details directly into the telephone keypad using the invoice reference number, making this an extremely secure method of processing invoices. The IVR reporting software can integrate with existing CRM or payment databases, simplifying reporting processes.
For more information about this facility and how we can assist, please speak with our experts today.
Automatic Credit Card Processing
As mentioned earlier, for automated credit card processing online, you will need both a recurring billing merchant account and an invoice gateway. Finding the right merchant account for your business can be a daunting task, given the complex fee structures and rate comparison tools. Here are our expert tips for securing the best automated merchant services:
Find a provider that integrates with your current CRM or accounting system, if you wish to retain it.
Consult with an advisor who has access to more than just a handful of merchant account provider options, as they can do the legwork for you.
Avoid comparing based solely on rates, as the terminology can be confusing.
Compare quotes comprehensively to ensure you secure the best deal for your company, both now and in the future.
Tokenization in Automated Billing
Tokenization is a fundamental security measure in the world of automated billing. It works by replacing sensitive card data with a unique token, ensuring that the actual card details are never stored within the merchant’s systems. When a customer initiates a payment, the token is used in place of the card number. This enhances security by reducing the risk of data breaches, as even if a breach were to occur, the attacker would only gain access to the tokens, which are useless without the corresponding decryption key held by the payment processor. Tokenization adds an additional layer of protection, giving both businesses and their customers peace of mind when engaging in automated billing.
How Can Merchant Advice Service Assist with Automated Billing Systems?
Merchant Advice Service collaborates closely with UK-based industry experts who can arrange the following services on your behalf:
E-invoicing gateway
Automated billing merchant account
Automatic billing service
Recurring payments facilities
Our advisors have access to multiple combinations of payment gateways and merchant accounts to choose from. We are confident that we can help you select the best merchant billing services for your business, both now and in the future.
For more advice like this, visit our blog page!
Conclusion
Automated billing systems offer a revolutionary payment solution for small business owners. By enabling customers to pay through automatic payment options, businesses can ensure they are paid on time, every time. These automated payments streamline the payment process, making it more efficient and customer-friendly.
Our custom payment services cater to your unique business needs. They allow you to offer a personalised payment experience to your customers. With our automated payment collection system, you can reduce the workload on customer service and focus more on growing your business. The advanced security standards we adhere to ensure your customers’ payment details are safe. They’ll give both you and your customers peace of mind.
Our automated systems are designed to integrate seamlessly with your existing payment page and payment portals. This not only improves your operational efficiency but also enhances your customer experience. By choosing our payment service, you can avoid the hassle of late payments and reduce transaction fees, boosting your business’s profitability.
Embrace the future of transactions with automated billing systems. See the difference it makes in your business operations and customer satisfaction.
