Utility payments are recurring transactions with lots of data that need to be managed and tracked. The fact that many of them are made online means that they need to be secure and user-friendly so as to encourage users to pay their bills on time.
That’s why it’s important to work with a payment processing provider that understands the unique challenges that come with utility billing. A good utility payment solution will have a range of capabilities that allow your customers to make their payments in a way that suits them, while still providing the kind of security and reliability that you need to maintain a reputation for excellence.
A good utility bill payment solution will have features that can handle the entire process of managing utilities like electricity, water and refuse, from connecting a new customer to the service to reading meters and generating bills to collecting payments. It should also be able to support the use of smart meters and other IoT devices that provide usage data.
Another feature to look for in a utility billing solution is a secure and fully PCI compliant way of accepting payment online. This is a must for most utilities to keep their customers happy and ensure that they don’t fall behind on their payments. It will also help them reduce administrative costs by reducing the number of phone calls, emails and letters that need to be sent.
Lastly, a good utility billing software should be able to accept both debit and credit card payments. This is important because it gives customers the option to choose the method of payment that best suits them and makes it easier for them to manage their utilities. It’s also a lot safer than sending checks through the mail, as it removes any chance of them getting lost or stolen.
One of the most important features that a utility payment solution should have is a recurring ACH payment option. This is because it can be set up to automatically process payments on a regular basis without any manual intervention. This will help reduce late fees for customers and also allows the utility to collect payments quickly.
It’s also worth looking for a utility payment solution that can be integrated with EDI, or electronic data interchange. This is a standardised protocol that allows businesses to communicate with other companies using a common format. This can be used to send information about invoices, orders and deliveries.
As we become more digitally literate, it’s crucial to find a utility payment solution that provides a range of features that meet our needs. The best solutions will offer a range of payment options that are convenient for customers and easy to use. They will also be able to integrate with other services to improve their functionality. In addition to this, they should also have a robust error-control system to prevent invoices from being sent out incorrectly. This can be done by running checks before they are sent out, which will catch any errors in the process and give the customer an opportunity to fix them.