AcceptEmail and PayWithMyBank partner: decreasing costs while increasing consumer convenience

AcceptEmail has joined forces with PayWithMyBank to offer businesses a more convenient bill payment experience for their customers at a substantial cost savings.

Consumers who use AcceptEmail enjoy a quick, easy and intuitive bill payment experience from either their mobile devices or desktops: within an AcceptEmail dynamic email from a biller, consumers choose among the payment options offered, and authorize payment. With PayWithMyBank’s VerifiedACH now available as an AcceptEmail payment type, consumers can also pay their bills with online banking.

VerifiedACH lets consumers pay directly from their bank accounts by simply signing into their online banking. There’s no card, bank account or routing numbers to provide, no account to create or new password to remember. Consumers avoid the convenience fees that often come with card-based online bill payment services, as well as the interest associated with credit cards. Payments are protected by the same bank-grade security that consumers trust daily for online banking.

Meeting Demands of Millennials for Mobility, Speed, and Convenience

Consumers of the Millennial Generation, some 76 million Americans born in the two decades before the year 2000, will welcome the AcceptEmail-PayWithMyBank method of direct payments. As digital natives, they grew up in a networked, online world.

PayWithMyBank already enables approximately 90% of US online banking customers to use its service.

How AcceptEmail works

AcceptEmail generates payment requests on behalf of billers, displays the payment options that the billers offer to their customers, delivers essential data to the chosen payment method, and obtains authorization of the payment.

When the authorization arrives, the consumer gets notified immediately. The AcceptEmail payment request changes color on screen – from blue (payment due) to green (payment received).

Billers who use AcceptEmail typically experience reductions of up to 70 percent in collection costs. They also receive instant proof of bill delivery. AcceptEmail customers pay their bills faster – between ten and 14 days – than those who use paper bills.

Close to 30% of the millions of AcceptEmails sent out in the past twelve months were opened on mobile devices. Kwakernaak maintains that the percentage of mobile bill payers will continue to grow rapidly, as will the use of mobile-ready payment methods such as PayWithMyBank’s VerifiedACH, Amazon and PayPal.

AcceptEmail CEO Peter Kwakernaak:
“This is the best of both worlds. Billers who take advantage of the combination of AcceptEmail and PayWithMyBank need not make adjustments to their systems, website or Apps in order to get VerifiedACH with real-time confirmations. They will reap substantial savings too. ACH is far less expensive to transact than credit card payments, which often take a percentage of the invoice amount. ’Synergy’ is a frequently overused word, but it is entirely appropriate here,”

“Millennials, especially, are turning away from debit and credit cards and seeking out mobile payment methods. We’ve seen that trend take hold in Europe, and it’s happening now in America,”

Alexandre Gonthier, PayWithMyBank CEO:
“But it’s not just the Millennials. 50% of Americans either do not have a credit card, or prefer not to use one. The majority of adults, however, have a bank account and use email.”

Related posts

Comments are closed.