Are you looking to build your business and invests a lot of time to grow your company, but you can’t? So don’t worry, you are in the right place. We tell you the automated payment system which is efficient to grow your business.
The main problem which is common in business is that customers don’t pay their bills on time or also not paid at all. However, your business is also facing all the high costs, which are related to the expensive, old method as well as inefficient billing system. Additionally, you get extra expenses to collect the past dues from the accounts, or it also can be possible that your company is dealing with fraud employees or missing funds.
The Best Solution Which Is As Follows:
The process where transferring the customer’s payment electronically from their diving accounts, credit cards, and debit cards is known as an automated payment system, where the payments transfer on the fixed date which you selected.
If you create an automated payment system, you can easily collect your money from any customer without any delay. It also saves a lot of money when it comes to billing your consumers. However, it also prevents fraud from the Employees.
➢ So let’s Started;
Once you’ve selected to go with an automated payment system, then you’ll need to decide out who will handle the payments. Generally, there are three choices for you;
- You can apply and fulfill the strict requirements of the bank. However, your company will need to invest in special software and take complete training because you must know how to enter the data and process it. Therefore, you will have to pay bank rates.
- You can also use the third-party retail processor where the pay rates are higher than the rates of the bank many times. Several retail processors may charge their fees up to 15% or more which depends on the money they receive.
- You also have the option to use the automated payment system where the pay rates are much lesser than the banks. The automated payment system is a service to manage and easily support the service. The automated payment system gives you the complete transaction information of accuracy daily. Firstly, we check the errors and fix them as well as avoid the unintended effects. As a result, you’ll be able to collect more money for your company, also have happy and satisfy to the consumers.
A Short Overview Of Automated Payment System
APS provides many options for sending and receiving your automated payment information. The automated payment system is all in one online payment processing system. You can also transfer all data entering and processing to APS. Since 1987, APS has been processing automatic payments, which are very beneficial. The company has specialized for many years of experience in electronic payment services where you can easily optimize your profits and reduce your billing costs by using an Automated Payment System.
Now the question is how it works?
Your consumer signs a short authorization form explaining the payment information. APS receives this authorization information. When the payment is due, the Automated Payment System will transfer the funds from the credit card or customer’s bank account and provide you a complete report. Payments can be made weekly, bi-weekly, monthly, quarterly, annually, semi-annually, or on any other payment schedule.
APS provides online or offline options where it sends and receives the automated payment information to you securely. Another option is using a simple paper-based system where you can easily decide the advanced electronic solutions.
The biggest concern in the company is paying bills on time, and some customers do not pay their bills on time. However, the automated payment system is very helpful to the business since it reduces the risk of fraud or money loss.