A research conducted by MasterCard International reveals that many card holders in the US, would consider switching service providers if they were offered an automatic bill payment option on their card, provided all other factor remains the same. This study reveals the reason behind the obvious choice of customers towards recurring billing payments. The study reveals that it is the convenient features of a recurring bill payment that attracts the consumers. To know that bills are paid and not just paid, but paid on time automatically without any worry, is a big relief to consumers. In addition to this, survey users cited that they saved on late fees and postage and could increase their reward points issued by card issuers every time they used recurring payment option.
This research clearly indicates that technology companies or any other businesses should offer recurring bill payment option as a tool to attract and retain customers. Merchants can increase their customer base by providing services that will make life easy for customers. When more customers pay bills on time, merchants benefit from guaranteed payments, improved cash flow and potentially incremental revenues.
If we go by trend, what is followed in western countries, especially in United States, enters the Indian market after 10-15 years. Now with a pro- development government ( Modi Sarkar) that fully supports foreign investments and business development, business establishment should realize the pulse of the Indian consumers who are struggling to find time. It is in the best interest of businesses and their consumers to switch to recurring billing option.
BluSynergy is a one of a kind billing solution that provides its customers sophisticated features that make it convenient for both merchants and their customers. Broadband users, Cable companies, Schools, clubs, gyms and any online companies that bills its customers on a monthly basis will find that Blubilling provides them a complete solution on their recurring bill payment requirements.
To read more, click here