Visa Bill Pay Benefits

Grow your business with electronic payments.With more people making card-based payments, and expecting the option of paying their bills electronically, now is a great time to promote Visa for bill payment and increase customer adoption. Accepting Visa as a payment option can help you cut costs and increase profits, which can help your business grow. Provide your customers with a fast, easy, and secure payment method–Visa Bill Pay.

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A win-win for you and your customers.

When customers switch from checks to Visa for bill payment, your business benefits through:

Increased profitability and improved cash flow. Visa payments post faster than checks, and merchants that accept Visa are guaranteed payment usually within 24 to 48 hours (as long as they adhere to simple authorizations rules). You can also reduce expenses incurred by delinquent accounts since payments are guaranteed.

Improved efficiency and lower operating costs. Visa Bill Pay cuts payment processing and check-handling fees, which can reduce administrative time and effort, such as the time it takes to deposit checks. And customers who pay electronically can opt to receive eStatements, saving you production and mailing costs.

Reduced cost of payment. Visa payments are less costly to process than other methods of payment. ACH has a 3% higher rate of exception than card and, compared to ACH, card payments have lower fraud rates as well.1

Updated information. Get faster updates to customer information with Visa Account Updater at visa.com/merchant/VisaAccountUpdater, which notifies billers when cardholder information changes, so they can avoid missed payments.

Enhanced customer satisfaction and loyalty. Many customers now expect the option of paying bills by card. A recent Visa study found that 70% of respondents use credit or debit cards to pay for household and personal bills.2

When customers pay their bills with Visa, they enjoy:

Improved customer satisfaction. 43% of survey respondents prefer to use a debit, credit, or reloadable prepaid card to pay their household bills.2 Rapid adoption of smartphones and tablets is also translating to more online and mobile bill payments.

Faster solution. Millennials, in particular, want solutions that are quick. They prefer electronic payments and, at 88MM, have overtaken Boomers in population and are more technologically savvy.3 Millennials are also more likely to switch providers if their biller does NOT accept their preferred form of payment.2

Increased convenience. Paying bills with Visa eliminates the hassle of writing checks, buying stamps, and incurring late fees. With Visa Bill Pay, most payments post instantly so customers can be sure their payments get made on time, even at the last minute.

Added security. Customers are never held responsible for unauthorized purchases. Visa’s Zero Liability Policy protects against unauthorized transactions, including bill payments made online or by phone.*

of survey respondents use credit or debit cards to pay for household and personal bills270%

1. Optimizing the Collection Portfolio, Treasury Strategies, September 2012 2. Visa Emerging Bill Payment Study, October 20143. U.S. Census 2011, Consumer Expenditure Survey 2011

*Visa’s Zero Liability Policy covers U.S.-issued cards only and does not apply to certain commercial card transactions, or any transactions not processed by Visa. You must notify your financial institution immediately of any unauthorized use. For specific restrictions, limitations and other details, please consult your issuer.

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