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Applied Recovery Science Blog

Applied Recovery Science Blog: Discussing Tools, Technologies and Techniques used in Revenue Cycle Management, Medical Billing, Billing Management, Collections, Debt Recovery, Call Centers and more.

Mobile Payments Increase Receivables

According to the Federal Reserve’s “Consumers and Mobile Financial Services 2013” report, 87% of the U.S. adult population has a mobile phone and 52% are internet-enabled smartphones. 28% of all mobile phone owners have used mobile banking and 15% reported making a payment using their phone in the 12 months preceding the report (which is most of 2012). Additionally, the most common use of mobile payments was to make an online bill payment.

All of this data represented significant increases over the last report released in December 2011, and surely the next report will reflect another increase in these numbers. While 15% may not seem like a huge number, consider what 15% of your receivables looks like. Is it possible you are missing the boat on this ever-growing segment of consumers?

Well fear not, because Simon’s Agency isn’t. Our dynamic online payment gateway, www.PaySimons.com, is fully functioning in any desktop browser as well as all mobile device browsers. While many agencies and companies are not yet prepared to handle significant payments this way, Simon’s is way ahead of the curve as we continue to embrace the philosophy of melding yesterday’s principals with today’s technological innovations.

So, if you are finding your accounts are getting stuck in the mud at another agency, or in your own billing department, we’re ready to deploy a whole toolbox of technologically advanced assets to get your accounts moving in the right direction again. You can always count on Simon’s Agency to stay on top of the technology and implement the tools that allow consumers to pay their bills quickly and efficiently in this our modern world.

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