Is “Pay by Text” the Next Evolution of Ecommerce?

 

Key Points:

  • Pay by Text is increasing in popularity, especially during the pandemic.
  • Text messaging increases customer engagement and payment.
  • More industries are using pay by text, including the healthcare industry.

Commentary:

There are a couple of things that are always going to be a constant. The sun will rise, and the sun will set. And, bills are always going to be due. Across several industries, we are starting to see a “Pay by Text” format, in which consumers can access and pay their bill through a text message, rather than paying in person or through the mail. MarketScale Host Justin Honore talked with Larry Talley, Founder & CEO, Everyware, which offers simple billing solutions for organizations in a wide variety of industries. Talley talked about seeing more industries join this movement and which ones are best suited for it.

Abridged Thoughts:

Pay by text is a great payment method that really works on your own time. That’s the beauty of a text message. It’s not like a live chat or a phone call, so it really gives you the flexibility to pay when it’s convenient for you. Pay by text for industries such as nonprofits where we played a major role in collecting donations, where you just text the word “give,” and it will ask you, “How much?” It’s a great way to see that playout, especially through COVID when people couldn’t congregate or go to church. It’s really great to see our platform play such a role in collecting money for those nonprofits.

Every industry is trying to increase patient and customer engagement. I like to call it “payment engagement.” Healthcare providers can increase patient engagement through text messaging. 

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