At Invoice Cloud, our primary focus is improving customer engagement to encourage more online payments and drive results for your organization. We’re continuously working to provide the best bill payment experience for your organization and your customers – which is why we’re thrilled to announce our new partnership with PayPal, one of the most trusted names in digital payments. This partnership represents another major milestone in our effort to provide billing organizations with the most complete and convenient online payment solution possible.
Invoice Cloud now offers your customers the ability to pay their bills online with PayPal, Venmo, and pay later options like Pay in 41 and PayPal Credit2.
Invoice Cloud and PayPal have worked together to provide an innovative bill payment experience that we believe will drive your organization’s online payment adoption to new heights. Combining the fast, easy, and secure online payment flow of PayPal with Invoice Cloud’s proven electronic bill presentation and payment platform can help drive higher conversion online and reduce costs for your organization.
To illustrate the advantages of Invoice Cloud’s partnership with PayPal, here are four major benefits Invoice Cloud clients will see from this exciting collaboration.
1. Convenient, secure digital payment options
With payment options that are optimized for mobile devices and a focus on engaging customers throughout the payment route, Invoice Cloud’s solution is already built with convenience in mind. For customers, convenience is key to encourage online adoption. In fact, a recent survey by Invoice Cloud, The State of Online Payments, uncovered that convenience is the number one reason customers prefer to make payments online. This same research also found 34% of consumers prefer making bill payments on a mobile device and 43% prefer online payment portals. That’s why we’re thrilled to now offer our clients the ability to offer payments with PayPal, the #1 US digital wallet.
This partnership with PayPal is an expansion of our commitment to offer billing organizations the most convenient and secure payment options available. With the fast, easy, and secure payment methods many already use, PayPal is a trusted name for customers to pay from anywhere and across just about nearly any device. PayPal has a trusted network of 377M global customers and is trusted by nearly 2/3 of US online adults and over half of US online adults under 35.
Today’s consumers expect optimal flexibility when it comes to their customer experiences, including making bill payments. By providing a variety of digital wallets and optimized, omni-channel payment options, you’ll thrill your customers, drive more digital payments, and effectively reduce your manual workloads.
2. Enable unbanked or underserved customers to pay online
Many organizations have historically struggled to offer readily accessible digital bill payment options for unbanked and underserved customers. With PayPal, you can give the 22%3 of Americans who are unbanked/underbanked the option to pay their bills online.
Your customers can now take cash to over 85,000 retail locations and load money directly to their PayPal account to pay their bills.4 Customers simply bring cash to a participating retailer, use the barcode from the PayPal app and add money at the retailer’s register. The money will automatically be loaded into PayPal, allowing customers to make payments directly online.
This flexible payment feature extends your organization’s ability to meet a wider range of customer demands, making paying easier than ever while enabling more online payments for your organization.
3. Keep up with changing customer expectations
When it comes to making payments, customer preferences and expectations are constantly evolving. This is particularly true with younger demographics, who tend to prefer digital payment methods over mail-in or in-person options. Recent Invoice Cloud research even shows that nearly one-quarter of Millennials prefer to make payments via digital wallets.
With Invoice Cloud and PayPal, you can give customers the ability to pay their bills the same way they make purchases when shopping online – through simple, secure, mobile optimized experiences. Beyond that, you can enable existing Venmo users to pay their bills with an app they already use regularly (on average, Venmo users open their app 2-3 times per week)5. By providing these kinds of industry-leading payment experiences and enabling your customers to make payments through the device and channel of their choice, your organization can dramatically improve online payment adoption.
4. Accelerate online payments
Invoice Cloud’s platform already drives 2-3x higher online payment adoption rates than any other online payment solution.6 Our commitment to helping organizations accelerate online payments and drive this essential conversion to digital payments is another reason we’ve partnered with PayPal.
By enabling fast payments customers can complete with a few clicks (therefore avoiding having to type all of their personal or financial information each time), you can help improve on-time payments while giving customers more ways to make payments with pay later options from PayPal.
And the benefits don’t stop at accelerated collections and optimal customer convenience. Increased online payment adoption translates to other positive business results, such as increased customer satisfaction, cost savings, and decreased manual labor and staff workloads.
Improving customer engagement and online payment adoption for our customers is a key focus for Invoice Cloud. That’s why we’re partnered with PayPal to give your organization access to even more digital payment options, reach more customers through digital channels and accelerate online payments.
Want to learn more about how our partnership with PayPal can benefit your organization?
1 About Pay in 4: Loans to California residents are made or arranged pursuant to a California Finance Lenders Law License. PayPal, Inc. is a Georgia Installment Lender Licensee, NMLS #910457.
2 PayPal Credit is subject to consumer credit approval.
3 US Federal Reserve
4 PayPal Cash Plus account required to add cash at retail locations. A fee will apply when loading cash to your PayPal account at supported stores. Click here for a list of supporting stores
6 Invoice Cloud proprietary data. Based on average increase in online payment adoption rates for Invoice Cloud clients within the first year of implementing the platform.