FinText is a Solutions by Text (STB) embedded messaging and payments platform for consumer finance businesses, and the collaboration with Nuvei will see the latter power the processing of the company’s new text-driven payments.
Enable payments via simple keywords of the likes of ‘Pay Now’ for faster transactions.
Improve automated payment management by reducing manual workloads and optimising resources.
Ensure data safety through secure tokenized PCI-compliant payments, bettering the protection of sensitive customer data.
Achieve regulatory compliance by leveraging FinText’s pre-vetted, carrier-approved messaging template to ensure compliance with strict industry regulations.
Per the announcement information, the upcoming report from SBT and Datos Insights ‘State of Bill Pay 2023/24’ showcases that older and younger generations have a preference for text communication and an increased expectation for mobile payment solutions. More than half of the older generations and 70% or greater of the younger generations prefer to engage about their bills over text messages.
Whereas data showcases that consumers have an increased demand for mobile payment solutions, industry reporting highlights the importance of businesses adapting to shifting consumer preferences. BNY Mellon and Datos Insights findings show that 77% of survey respondents agree that real-time payments enhance the customer experience significantly, while 54% consider them ideal for urgent past-due payments, and 32% believe they help simplify cash flow management.
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