SMS for Debt Collection
Reduce Your Cost to Collect
Text messaging increases on-time payments and reduces collection costs
Debt collection can be expensive. Whether you keep it in-house or work with a third-party agency, you can easily spend thousands trying to get customers to pay their bills. Payment reminders, late payment notices, default judgments—every added step in the process reduces your margin and your chance of success.
But now there’s a guaranteed way to reduce your cost to collect, and it won’t cost you a dime. A simple text message costs just pennies to send, and it can save you thousands in accounting and collections costs.
With SMS, you’re able to instantly send payment reminders to customers to help them stay on top of their bills. Personalize your message with their account details. Embed a link to your payment interface. And follow up with payment confirmations. MessageMedia SMS solutions give you powerful capabilities to improve your success rate.
Your customers will appreciate the convenience of our SMS payment solutions, and you’ll love the cost savings.
Advantages of SMS Debt Collection
- Bulk SMS is a fraction of the cost of mail and phone calls
- Text messages boast a five times higher open rate than email—90% of all SMS are read within 3 minutes
- Initiate a repayment conversation with delinquent creditors who won’t return phone calls or email
- Send a 24-hour reminder to reinforce the urgency of a payment due date
- Embed a link to your payment site to simplify payment
- Send convenient payment confirmations and other notifications to improve customer satisfaction
- Integrate SMS with your CRM or billing software to automate the entire process for maximum cost savings
Key Features for SMS Payment Systems
Bulk SMS. Whether you need to send a single message or thousands, you’ll enjoy greater economies of scale from buying text messages in bulk.
Dedicated numbers. Using one number to communicate with customers everywhere allows you to build an SMS presence as recognizable as your web domain.
Short codes. Half the length of normal phone numbers, short codes are fast, convenient, and easy to remember.
Text to voice. Cell phone? Landline? No problem. Text to voice automatically converts SMS messages into voice, so your payment reminder always gets through.
Delivery reports. You’ll never be left guessing whether your customer received your message. Real-time delivery reports show exactly when each message is received.
Reporting and analytics. See what worked and when, slice the data anyway you want, and serve it up in pie charts or graphs. It’s easy with MessageMedia’s web-based analytics dashboard.
MessageMedia SMS Debt Collection Solutions
Web SMS provides an easy way to send and receive payment reminders directly from your web browser. Highly capable and cost effective, this online platform gives you flexible delivery options, advanced reporting tools, and multiple customization options.
SMS APIs let you integrate text message payment reminders with your other business systems. This brings a new level of automation—and cost savings—to your collections process. Our APIs are designed to let you use the languages you know and love to quickly develop robust SMS applications.
Email SMS is a basic SMS platform with a basic price. Use it to quickly send SMS from most email service providers, including Outlook and Lotus Notes. Email SMS provides a simple solution for sending single (rather than group) reminders when you don’t need the value-added features of Web SMS or our SMS APIs.
Talk to one of our SMS experts today to learn how MessageMedia can help you deploy an SMS payment system.