When my son was 6-months-old, he got really sick with the flu which turned into another respiratory infection that lingered for months. We had frequent trips to the ER and to his family doctor. Needless to say, we racked up a few hefty medical bills. The larger hospital systems had programs in place that automatically debited our HSA card monthly until we satisfied our debt. Our family doctor allowed us to make monthly installments, but required that we call in to make payments. I never seemed to call when the office was open. It truly was an inconvenience to have to call to make payment and ultimately our doctor did not get paid as quickly as the larger hospital system who made it easy for me.
Whether your business offers payment plans or provides a service through a subscription model, it is imperative to offer an automatic monthly billing payment option for customers. Not only is this a convenient way to collect payments for you, it is also convenient for your customers. A card on file eliminates manual steps both for the business and the customer.
With recurring billing solutions, businesses no longer have to wait on payments. You know exactly when the payment is processed and when to expect the deposit to your bank account. Customers also save time by not having to write a check or call to make a payment.
Be like the hospital system and not the family doctor in this scenario. Give customers the option to keep a card on file and accept automatic payments. It’s easy to set up and your customers and bank account will thank you for it!
By Leah Lanius, Owner & Founder