Utilities and creditors have always struggled with getting some consumers to pay on time, and sometimes to pay at all. As the economic news continues to worsen, those billers are finding the challenge to be harder than ever.
To make it easier for debtors to pay, and to lower the cost of collecting payments, many billers are now turning to kiosks. A new special report, published by Self-Service World and sponsored by U.S. Payments, provides detailed information on the benefits, including higher payment rates and an improved customer experience. In addition, the kiosks significantly reduce the likelihood of human error in the transaction. Because the kiosks can accept cash, they serve as an ideal payment vehicle for many of the 40 million U.S. residents who don't have bank accounts or who prefer paying in cash.
Retailers who have employed billpay kiosks have reported measurable cost savings and the machines have proven to be reliable. The machines cut customer wait times and free up staff for other duties. They also reduce errors by limiting the number of employees who handle cash.
An RVA Marketing, Research and Consulting survey showed a majority of customers are comfortable transacting with self-service kiosks, though many potential users still need to be better educated about them. The survey also said that when given a list of reasons for using a kiosk versus other payment methods, about 90 percent of respondents rated "convenient or time-saving way to pay," "I get immediate receipt of payment" and "fast notification of the biller" as important motivations.
