It’s funny how much we all fight change. It’s a normal human tendency. But there’s one instance I run across recently that illustrates that clearer than ever – the use of virtual checks.
Follow me on this one…
As a preferred payment method, paper checks hit their peak in 1995 (22 years ago at the time of this writing). As of 2013, a report by the Federal Reserve listed paper checks as the payment method of choice by only 3% of the American population. Meanwhile, there are several European countries that have completely eliminated paper checks.
I’m sure none of this comes as a surprise. Think about the last time you were asked to write a check. I bet your response was “But, but – can I pay you online?”
It was out of that desire to pay electronically that the virtual check was born. With a virtual check your clients no longer need to write a check; they simply fill out an online form and…ahem…you print the check.
Hold on a second.
If you, your clients, and 97% of America doesn’t want to pay by check, why offer a solution to your clients to “pay online” just so you can print a check to run to the bank? I thought we were trying to get rid of those things.
It’s not all bad. Checks are a cheap option to accept a payment if you only look at the hard costs.
But think about the drawbacks including the fact that someone in your office has to manually handle these payments. Not to mention that you open up your office to security risks by physically handling routing and account numbers.
Is it worth the E&O exposure and manual effort to save a few bucks a year?
There is a better way. There is a way to end the paper check for good. By taking payments online, your clients enter in their banking information in a secure form, ePayPolicy processes the payment, and the funds arrive in your account without one iota of manual intervention. And if that payment bounces, our system will notify you and your client automatically.
It’s like magic.
So come join the revolution and make payments easier for your customer AND your agency. Because we think that your customer shouldn’t be the only one that wins with online payments.