Safely Collect Subscribers’ Recurring Telecom Payments
Plus, easily expand the number of places subscribers can pay their wireless, internet, cable, satellite and other telecom bills
Problem: Payments Channels are Complicated
LIfe is busy. And telecom companies need to make it very easy for subscribers to pay their wireless, internet, landline, and satellite bills. Otherwise, they could lose out on monthly revenue.
But offering a wide variety of payments’ channels and collections points – bank drafts, recurring credit card payments, physical locations, etc. – is complicated. It requires a lot of connectivity, interfaces, and security. Plus, all subscribers’ payments must be accurately applied to their accounts in real-time or near real-time.
Beesion: Boost Payments’ Collections
Beesion’s Payments Management software helps telecom companies boost payment collections and maximize revenue opportunities. It automatically collects and transfers recurring payments that subscribers make to credit card companies, banks, and retail outlets for their telecom services. It also manages autopay services for the customer base. And, because it’s extremely flexible, the software enables new payments’ collections’ points in days. The low-code software is quick to launch and update because it uses little to no custom code.
Automates the Collection of Recurring Payments
Beesion’s Payments Application automates the collection of subscription payments made to credit card companies, financial institutions, retail outlets and other places. The application is easily configured for any type of collection format. It connects safely to each collection point through web services and then applies the payments to the subscribers’ account, using his phone number or ID number for reference. Plus, it manages every aspect of auto-pay services, including set-up, collection, and transfer.
Enable New Channels to Securely Collect Subscribers’ Telecom Payments
Since Beesion’s software supports customized input and output exchange formats, it’s easy to expand subscriber payment channels. Retail stores, gas stations and kiosks can all be converted into collection points, where subscribers can safely pay their telecom bills. Plus, the software lets you set rules about the type of payments accepted. For example, with drag-and-drop tools, you can establish that cash is the only payment form accepted at gas stations.
The application meets all regulatory requirements for handling money.
Create a Debtors’ Self-Pay Portal
Set up a secure, online portal where subscribers can pay their telecom debt in arrears. The portal displays all of a subscriber’s past-due invoices from every service line. It then provides payment plan options, based on the subscriber’s value, credit limit, and other configurable factors.
Subscribers get a more private, convenient method to pay their debt(s), while carriers increase debt collections’ ratios. In fact, carriers can realize at least a 50% increase in the number of subscribers that honor their payment commitments via the debtors’ self-pay portal vs a phone call with an agent, per Beesion analytics.
It works like this
- Delinquent payments notifications are sent via text message to subscribers, directing them to the secure debtors’ self-pay portal.
- The software determines the payment plan options, based on multiple configurable factors. It extends more lenient terms to credit-worthy subscribers and stricter terms to those with lower credit scores. Administrators can also configure an incentive or promotional offer, such as 0% interest refinancing, removal of late fees or collection fees, or a settlement discount.
- The subscriber chooses a payment plan and makes at least his first payment, which is immediately applied to the subscribers’ account (s). If service was suspended, and recent payment meets debt minimum, the portal orders a temporary service restoration. Also, subscribers can print payment slips to make payments by mail or at a designated collection point.
- Automatic reminders are sent monthly, reminding the subscriber of his payment plan commitment. If he doesn’t pay, or his auto-payment is declined, his account is set back to the corresponding debt stage, including service suspension.
- Reconcile subscriber payments and apply them to their proper accounts:
- Quickly verify and post individual or lump payments, initiate finance charges for overdue payments, process discounted payments, and find specific unpaid account for which payment is made
- Create debt repayment slips with all the debtor’s information stored in the barcode.
- Enable debtors to pay off these slips at any payments location