Phoenix, Ariz. – November 11, 2010 – BillingTree, Inc, one of the nation’s leading on-demand payment processors, announced plans to offer prepaid stored-value accounts under the name "Pre-fund™" as an innovative alternative to upfront deposits; and to allow for service extension to less creditworthy prospective customers at reduced risk of default. The company will formally announce details at the BillingTree Conference 2010 on November 12, during the President’s Address on the latest in payment processing innovations at BillingTree.
Prepayment for services has gained acceptance in the US led by the cell phone industry, where a report from IDC indicated 65% of net new customers in Q4 2009 opted for pre-pay service plans. The same economic factors driving the shift in cell phone plans has impacted pre-payment demand for other services that traditionally rely on short term credit or deposits. Allowing customers to draw down funds allocated for a specific service minimizes risk while potentially eliminating the need to collect unpopular upfront deposits for new accounts or the un-creditworthy.
Also in development from BillingTree is a loyalty rewards program which will be available as a stand-alone or as an enhanced integrated feature of Pre-fund. Billers offering Pre-fund with loyalty enhancement will be capable of improving their pre-paid payment adoption through customer rewards for maintaining positive balances, opting for paperless billing or setting up recurring account top offs and bill payments online, etc.
As a stand-alone, the loyalty rewards solution will be capable of replacing existing rewards programs without requiring re-enrollment, eliminating the cost associated with transitioning while improving program features, reporting and analytical capabilities.
"The billing and payment landscape is constantly evolving, with customers today demanding more alternatives to better manage corporate and household budgets, and seeking rewards for being customers in good standing," commented Scott McCollum, BillingTree's president. "Prepaying for services such as electric, water, ISP and even health related services like physical therapy, counseling or dental care make controlling finances easier, while providing a risk resistant alternative to those providing services."
The proven leader in on-demand payment processing, BillingTree empowers customers with competitive advantage through a simplification of the billing and receivables process. By delivering the most innovative technology while making it as easy and inexpensive as possible to accept payments, BillingTree has revolutionized the payments landscape. Our software-as-a-service (SaaS) model delivers industry-leading payment solutions, proven integration, and point-and-click simplicity. BillingTree’s focus on innovation has allowed us to help more than 1,500 customers eliminate manual processes and automate their payment cycles. BillingTree – Growth is our Business. For more information, visit www.mybillingtree.com or call 877.4.BILLTREE.
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IBA, PR for BillingTree