It has always been a long-drawn battle for merchants to obtain payment options from major banks and payment providers. A closer look at the traditional payment sign-up process reveals dealing with multiple product managers in banks, numerous paper forms and above all, the time-consuming processes where customers have to wait for ages to get a single approval.
Even if merchants manage to navigate the system, they would still be saddled with hidden charges, inadequate support, and outdated technologies. This is where Pay Advantage, based out of Australia is turning the tables and providing clients with the latest payment options that guarantee no red tape or hidden charges.
Pay Advantage acts as a single platform for all of Australia’s popular payment options that include credit card processing, bank account debits, and BPAY acceptance. “At Pay Advantage, merchants get access to all of the major payment schemes coupled with some of the most powerful technology in the market with faster on-boarding, simple pricing, and round-the-clock customer support,” states Ryan Mussio, director of Pay Advantage.
Among Pay Advantage’s multiple payment processes, the paperless debit option is gaining a lot of traction in the market due to its user-friendly features. Merchants can simply enter the details of their payment plan and the company sends an SMS to their customers to enter their bank account and credit card details and authorize the request. The payment deposits take place within one to three days, with on-charge fees to customers, automated handling of failed payments, and real-time payment report and deposit alerts for easy reconciliation with the banks. Pay Advantage’s solution also assists banks in keeping a record of all the payments, track conversation with notes, add their own custom fields, and view receipts.
As a testament to this easy and effective payment process, Mussio mentions a client who deployed their debiting and automated failed payment handling solutions and efficiently cut back on admin staff required to enter new direct debits and follow-up delinquent accounts. This has also enabled merchants to focus more on their business rather than on the repetitive admin work.
“For us it is all about delivering real value to our customers, saving their time and providing a meaningful journey,” says Mussio.
Pay Advantage has also cut corners for merchants in availing Australia’s electronic bill payment—BPAY. By accepting BPAY payments or instant credit card processing for their invoices, merchants can easily enable Xero integration and connect to their Xero account without a hitch. What is more, their mobile-friendly cloud-based portal is accessible on both smartphones and tablets from where the merchants can easily manage their customers and payments. “This means no more expensive hardware terminals for processing card payments,” explains Mussio.
Pay Advantage is continuously including new features to enhance the transaction process for merchants as well as customers. Currently, the company has included a new feature, Pay requests, with which merchants can send email or SMS to customers with a link that permits them to securely enter their credit card details or set up a payment plan.
Once the details are entered, the payment is processed, and as soon as the payment is done the customer gets the receipt and merchant gets a notification. “We are really excited about the possibilities of the new payment platform to further streamline and automate the payments process,” concludes Mussio.