Visa Bill Manager
Partnering with Visa we are introducing Visa Bill Manager a new solution that revolutionises the billing experience by enabling billers and customers to communicate easily & securely.
Billing today is a sub-optimal experience for all parties, with both billers and customers experiencing several issues concerning bills.
Biller Issues
- High cost to serve on traditional communication channels such as contact centres and lettering
- Cashflow trouble, especially for SMEs
- Timely and difficult process to resolve non-payment related customer issues
- Visibility – no way of identifying if payment can or cannot be made
- Low customer retention with cancelled direct debits
Payer Issues
- Rigid due dates – especially for those without a steady flow of income
- Fraud – bill presentment can often be an opportunity for fraudsters
- Limited bill management capabilities
- Inflexible payment methods that don’t suit customer preferences
- Restrictive contracts that are subject to price hikes
- Lack of transparency – bill changes often catch consumers by surprise
- Difficulty and timely to resolve billing problems
Visa Bill Manager is brought to life through our partnership with Visa, combining our joint expertise to bring you a market leading payment & communication solution.
How It Works
Visa Bill Manager (VBM), simply, allows both parties to easily contact each other within a secure network for both payment and non-payment related matters. It does so by leveraging Request to Pay (R2P), to put two-way communication at the centre of billing, delivering a new flexible way to manage and settle bills.
Once a bill is received through Visa Bill Manager, the customer then has the choice on if they want to pay, how they want to pay and when they want to pay. Overcoming the restrictiveness of legacy billing methods, providing the flexibility of which payment method to use for that payment and overall putting the customer in charge of their finances and payments.
With VBM, billers can
- Quickly and easily initiate payment requests via a secure digital message
- Securely attach reference documentation (e.g. bill/invoice)
- Efficiently resolve issues
Payers can
- Choose to pay in full, partially, request an extension and more
- Get clear visibility of key billing information
- Have more flexible payment options
- Easily open dialogue outside of payment
Delivering significant benefits for all
Biller Benefits
- Can help to reduce operational and servicing costs
- Better cash flow management
- Automated invoicing
- Enhanced reconciliation
- Increased customer engagement
Payer Benefits
- More control over billing arrangements
- Flexible and secure payment options
- Enhanced UX
- Manage bills in one place
- Improved bill visibility
- Better engagement with billers
- Easier process when resolving issues