DEFENSIVE PLAYS
DEFENSIVE PLAY #1:
Deliver a Well-Designed Bill
When bills are not clear or detailed enough, clients often seek clarification, which can prolong the payment process. An accurate, easy-to-understand bill eliminates confusion and reduces customer queries about unclear charges or payment instructions.
Billing Design Tips for On-Time Payments
- Break down charges
- Make due dates prominent
- Create a logical layout
- Include payment instructions
- Use charts and graphs to convey consumption details
- Incorporate QR codes and other self-service options
- Use consistent bill formatting
- Communicate billing policies and late payment consequences
DEFENSIVE PLAY #2:
Create a Frictionless Payment Experience
45% of consumers say improving digital payments would help them pay on time.1
Creating a frictionless payment experience eliminates obstacles to timely payments, making the process seamless and customer-centric. By offering a variety of billing and payment methods, every customer can find a convenient option.
Some channels have a greater impact on payment timeliness. Here are four to explore!
- Mobile Apps KUBRA research confirms that mobile apps are the preferred method for customer bill payments. Despite their popularity, 27% of utilities still need a mobile app,2 highlighting a significant opportunity for improvement.
- Pay-by-Text Seventy-eight percent of consumers say that text messages are the fastest way to reach them, yet only 28% of utilities offer pay-by-text services.3 Adding pay-by-text can enhance the payment experience and encourage timely payments.
- Digital Wallets In the past year, 60% of consumers have used a digital wallet to pay a bill.4 Digital wallets (like Apple Pay, PayPal, Venmo, Google Pay, and Amazon Pay) offer unparalleled convenience for consumers and benefits for billers, including higher transaction completion rates and quicker payments.
- Retail Cash Payments For underbanked or unbanked customers, paying in cash doesn't have to mean payment delays. Offering retail cash payment solutions allows customers to pay their bills at multiple retail locations with extended hours, removing barriers such as limited walk-in center hours.
DEFENSIVE PLAY #3:
Offer Flexible Billing and Payment Options
Offering flexible billing and payment options is a strategic move that meets diverse customer needs and boosts satisfaction.
Types of programs that increase the likelihood of on-time payments:
- Autopay: Allows billers to deduct payments from customers' accounts on set dates automatically.
- Budget Billing: Averages annual utility costs to provide predictable monthly bills and avoid seasonal spikes.
- Pick Your Due Date: This option allows customers to choose a payment date that best suits their financial schedule.
- Prepaid Metering: Customers must pay in advance for the utility services they will use, helping them manage consumption and costs.
- Early Payment Discounts: Offers a discount to customers who pay their bills before the due date.
Boost Payment Assistance: How KUBRA EZ-PAY® Helps Customers Tap into Their Support Network
KUBRA’s Boost feature allows customers to request payment assistance from friends and family through KUBRA EZ-PAY. Customers can share a link so others can make partial or complete payments on their behalf, which is helpful in multifamily and roommate situations. This feature proved highly effective for a client with 330 Boost payments in 2023.