101 Questions for Your Payment & Presentment Partner


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101 Questions for Your Payment & Presentment Partner

  1. 1. 101 QUESTIONSFOR YOUR PAYMENT AND PRESENTMENT PARTNERThe presentment and payment industry is changing rapidly, and we knowthat it’s tough to gauge whether your partners on this front are keeping up.Knowing the considerations that go into maintaining a comprehensive strategythat addresses your business needs and new technology considerations, allwhile meeting consumer expectations is a huge challenge. Billers agree thatmanage without true expertise and real insight.It’s important to ensure that you’re positioned to remain ahead of the market,and that all of your suppliers are willing and able to be consultative partnersto you in this new market opportunity. Whether you’re seeking a newpayment and presentment partner and are preparing to issue an RFP, aretrying to understand your provider’s full scope of offerings relative to industrytrends, or are simply wondering if you’re getting the most from your currentTo that end, Western Union Payments® is proud to present this list of 101questions to ask your present or potential payment and presentment partner.We recognize that every business has different needs and that those prioritiescan vary considerably from biller to biller. To account for this, we interviewedour clients, alliance partners, consultants, industry experts and marketingleadership in order to compile this checklist. Their responses ranged from basicfunctionality to less obvious considerations, all of which will help to give youto help you create the most value from your billing and remittance strategy,both now and well into the future.
  2. 2. Company Background Internet 1. What is their primary business? options and fee structures for subsidiaries? 2. How many years have they been in the payment and presentment business? 15. Do they require preregistration to use the payment site? 16. Do they provide site logging tools? 4. How many years have they been working 17. Do they offer an electronic wallet with multiple payment with your industry? types and management capabilities? 5. What is their market presence in the payments industry? 18. Do they offer an online payments history view? 6. What is their market presence in your industry? 19. Can the consumer sign up for complementary solutions (e.g., eBill enrollment and paper suppression, payments 7. What is their client relationship philosophy? 20. Do they capture an email address with the payment? 8. Can they provide strong references? 21. Do they offer customized, simple URLs? Payment Types 9. Do they accept ACH (drawing from checking, savings, and money market accounts), credit card (Visa, IVR MasterCard, Discover, American Express), debit card options and fee structures for subsidiaries? Pulse, Accel) payments? 23. How is the customer passed from the biller’s IVR to the payment IVR? 25. Do they offer call drop tracking for trouble shooting purposes? customer base?Page 2
  3. 3. 27. Do they offer remembered payment features? Mobile 42. Do they offer payments via text message? 28. Can the consumer sign up for complementary solutions (e.g., eBill enrollment and paper suppression, payments 43. Do they work with all major carriers? CRS and Management–Facing Tools 45. Do they offer a payments app? For which smart and management portal? phone platforms? eBills 46. Do they provide both push and pull eBilling solutions? 31. Does it support unlimited users? 47. Do their eBills have integrated payment options or will the customer be forced to another page to make a payment? 33. Does it support complete auditing tools? 48. Are there solutions in place to maximize deliverability for push solutions? Recurring 49. Are there reporting tools in place to measure and address eBill activity? 50. Do they provide marketing opportunities in the eBill? 51. Do they have a comprehensive eBill adoption strategy? 38. Through what channels do they offer recurring? Online Banking Payments 39. Do they send electronic communications to consumers 52. Do they offer expedited online banking payments? to notify them when a recurring payment processes? 53. Do they offer guaranteed funds for online banking payments? 40. Are these payments processed and funded in the same 54. Do they provide account validation for online banking payments to prevent posting errors? 41. Do they offer specialized reporting on recurring payments?Page 3
  4. 4. 68. Do they have a mobile messaging strategy? 69. Do they provide email append services? Reporting online tool? Hosting Environment & Compliance 70. Is it a fully hosted solution? 71. Are there any hardware or software requirements? 59. Is the reporting data exportable into multiple formats? (i.e., across two hot sites)? 60. How many standard reports do they provide? 73. What is the approach to redundancy? 74. What is their business continuity plan? 75. How does their total capacity compare to current 63. Is an eLockbox solution available? 76. What integration options are available? Real time? Customer Communications 77. Are they compliant with all applicable standards? 64. Do they help to design a comprehensive consumer adoption marketing strategy aligned with your business goals? 78. What application monitoring is in place? 79. How long is payment data retained so it is available options? Processing & Funding 67. What types of consumer marketing do they support? Through what channels?Page 4
  5. 5. 92. Will you have the same account management and 82. Is a single remittance available? management protocols? 83. Are they merchant processor agnostic? 94. Is technical support available on a 24x7x365 basis? 95. Where is their support located? 96. What are the escalation paths? Account Management 86. Do they provide free hosting, implementation and 97. Is support accessible through email and phone? upgrades? 87. How do they approach client support? service? 88. Do they sponsor user groups or industry consortiums? 99. What is their ongoing product strategy? 89. Do they provide regularly updated business intelligence? 100. What additional value can they provide? 90. Will they advise on industry best practices throughout 101. How do they differentiate themselves from their the relationship? competitors? 91. Will they help create a payment strategy that will create more value for your business? ABOUT WESTERN UNION PAYMENTS Western Union® Payments is committed to helping billers create the most value from their payments strategy by partnering to give your customers convenient, cutting edge ways to pay. From presentment to payment, our servicesPage 5