Four Ways Integrated Payments Affect HVAC Customers’ Business
Our society has become ultra-convenience driven. Gourmet dinners can be delivered directly to our front door. We can make online purchases with the simple press of a button. Groceries can be bagged and ready for curbside pick-up through a mobile app. Each of these conveniences is possible because of integrated payments.
Consumer standards have changed – with convenience now topping their list of expectations. This is particularly true when it comes to payments. For HVAC and other field service software providers, the time has come to review and consider these changes. In particular, it’s time to enhance the convenience of your payment acceptance process for your customers and their consumers. It starts with the user experience and goes all the way through the integrated payments in your software.
This means moving beyond simply enabling payments in your software. It means integrating your payment capabilities with your customers’ ERP, field service, and accounting systems.
Integrated payments can benefit your HVAC customers in four key ways.
1. Integrated payments make it easy for your customers to do business with their consumers.
Often field service businesses have a reoccurring component to them. I get my A/C checked every spring and my furnace cleaned every fall. It’s like clockwork. Integrated payments allow HVAC customers to pay for these services without needing to present a credit card every time.
This is very similar to what happens when I pick up a prescription at Walgreen’s. I don’t need my wallet or my phone, I can simply charge the credit card on file. No cards to dig out of my wallet. No dipping or swiping required. I simply say yes to use my credit card on file, and off I go.
Using your integrated payments capabilities, HVAC consumers’ credit card information could be safely stored for quick and easy payment at the time of service. This results not only in greater convenience for the consumer but greater time savings for your customers’ technicians as well. No more collecting card numbers or phoning in for approvals.
2. Integrated payments are convenient for your customers’ accounting staff.
Manually entering data and reconciling payments with the correct accounts are breeding grounds for human error. By integrating payments with their accounting system, you can eliminate the “human factor” for your customers. This makes the entire process more accurate and efficient. Do this, and your customers will love you for it!
3. Integrated payments expedite receipt of funds from the business accounts of your customers.
Consider for a moment the time value of money. The process for collecting payments due for HVAC services to businesses often involves invoicing after-the-fact. The steps of creating invoices, mailing them, and waiting for a check to arrive often add unnecessary time to the payment process. You can allow your customers to more quickly collect the funds through integrated payments.
Their business customers also will appreciate the convenience and flexibility integrated payments bring to the process. According to a recent article on PYMNTS.com, businesses are pivoting away from paper-based payments and toward digital payment methods.
4. Integrated payments are more secure.
Keeping sensitive information safe is an ongoing challenge for many businesses. As data breaches and fraudulent use rise, so do the concerns of customers and businesses. Understandably so. It makes me a little nervous when I see a service technician writing down my credit card information on a receipt. HVAC providers can both allay customers’ concerns and alleviate risk by using integrated payments.
What to Look For in an Integrated Payment Partner
Choosing the right integrated payment partner is just as important as enabling integrated payments in your software. So what should you look for in a payment partner? Look for a partner that provides the following:
- Expertise to make sure your integrated payments solution is the right technology for the needs of your HVAC customers.
- Dedicated relationship manager that will get to know you and your customers.
- Around-the-clock support because the HVAC business is 24 hours. You want to make sure your support is accessible when you need it – not just during business hours.
- Emphasis on security that will help you with compliance and protection from a data breach.
- Transparent pricing so your customers will know exactly what you’re paying and why.
- Shared payment revenue opportunity to create a new source of income for your business.
Wind River works with software providers to incorporate integrated payments. As a result, we’ve seen how integration can streamline the process, bring convenience to customers, and deliver added revenue.
We also know there are many questions surrounding implementing integrated payments. I’d be happy to answer your questions and discuss how integrating payments can help your business as well. Please feel free to reach out at any time.
