Most small businesses have to spend a certain amount of time every month chasing down payments. Some people are late on payments because of the economy, some because of a temporary issue -- a medical or family emergency, an unforeseen expense that throws off the household budget, or a reduction in work hours -- and some because they actually don't intend to pay. 

The majority, though, just let time slip by and forgot to make that payment. Unfortunately, the business spends as much time on  the casually late payment as on the customers who aren't able to pay.

The solution is an autopay set up. Customers can set up automatic recurring payments through SmartPay and have their bills paid automatically. The benefit to your business is obvious -- no more time spent on unnecessary collections efforts, quicker turnaround on payments, and more predictable cash flow. 

The customer benefits, too, from the convenience of having bills paid without having to remember due dates.

A study by the Federal Reserve Bank of Chicago found that one of the primary obstacles to a complete shift to electronic billing was customers' desire for greater control. Being able to make a partial payment or to change settings for an ebilling account would, the Reserve found, make more difference to consumer acceptance of e-invoicing than education or attitude change.

On the SmartPay screen above, you can see how easy it is for customers to make changes to their autopay arrangements. Most will never choose to do so. The sense of control given by having the ability to make changes if they need to is enough to make most consumers comfortable, and allow them to enjoy the convenience and security of automatic billing.