In this 4-minute read:
- Why you should consider payments by text?
- How does text to pay work?
- How to get paid by text
As businesses continue to explore more non-traditional practices in order to broaden their payment options, some are turning to text as a method to request and facilitate customer payments. Allowing customers to pay their invoices via text can open up new opportunities for customer convenience and increased revenue.
Accept secure, contactless, online payments almost immediately, with no time-consuming application or underwriting required. Designed specifically for local businesses, Womply Pay is the fastest way to accept and request payments. Get set up in minutes and get paid fast. Click here to learn more or try it for free!
Why should you offer payments by text?
Accepting text payments is still a fairly new process that businesses are starting to get on board with. You can get ahead of the curve by offering this payment solution to your customers now.
Other benefits of offering text payments include:
- A more convenient method of payment for your customers (they may prefer this to online payments or a phone call)
- It’s easy for customers to pay from anywhere. If they are on the road, they can quickly send a text to pay their bill
- Through some texting platforms, you can set up payment reminders that will get sent to your customer via text
- Gives you a unique edge over competitors who aren’t using this payment method
- Some text to pay services allow you to offer discounts in text messages, encouraging repeat customers and building up your loyalty
- It is a secure method of payment that doesn’t release personal details
- Passwords and usernames aren’t needed to pay
- Your customer doesn’t have to enter bank account information or even have a bank account with some solutions
How does text to pay work?
Text-to-pay solutions, most frequently called SMS payments, allow a customer to pay for a product or service by sending a text to a specific number without having to enter their bank account or credit card information each time. In some instances, they don’t even need a credit card or bank account to make the payment because the payments are taken from their mobile carrier.
A step by step look at the process for mobile carrier solutions:
- The customer sends a text message to pay for their product or service. This text gets sent to the mobile payments provider
- The payment provider approves the transaction between the customer and the merchant (you)
- The cost of the product or service and any additional charges for delivery gets added to the customer’s mobile phone bill or is deducted from a prepaid balance with their mobile phone carrier
The process may look a little different depending on the provider you choose to go with. Some providers may have customers set up their payment information in their system and then just have them send a PIN with their text to confirm their purchase.
Some may even have solutions where you send customers a secure link through which to pay for their service. With these solutions, the customer may receive a text message as the channel to access their payment option, but they will be routed to an online payment platform where they’ll still need to enter their payment information. So if you’re looking for complete payment via text, make sure you find a provider that offers SMS payments.
How to get paid by text
Now that you know how the process works and have considered the potential benefits, let’s talk about how you can get set up to accept text payments.
There are several SMS payment service providers that you can research and reach out to in order to get this payment method set up. We suggest first reaching out to your current payment processing provider to see if they have any partnering SMS payment companies or if they offer this service.
Get approved to send text payment requests almost instantly with Womply
If you’re looking for a fast and easy way to start accepting payments (including sending payment requests via text), we have just the thing.
Womply Pay allows you to easily send text/SMS or email payment requests and accept secure, contactless, online payments almost immediately, with no time-consuming underwriting or application process. Womply Pay is the fastest way to accept and request payments, and was designed specifically for local business. Get set up in minutes and get paid fast. Click here to learn more or try it for free!