By Nicole Haskins, Vice President, Paymentus
In 2024, Paymentus celebrated our 20 year anniversary as a company. During that time, we experienced an immense amount of growth. We have expanded as a company and continue to innovate our best-in-class billing and payment solution to now serve the needs of more than 2,500 clients throughout North America.
But whether it was being listed on the New York Stock Exchange, processing nearly 600 million transactions in a single year, or touching the lives of 46 million everyday bill payers, there has been one constant within our flock: Bill the Duck.
Bill is more than a mascot, he’s a constant reminder that everyone has bills. His one mission has always been to help organizations get their ducks in a row and bill better. And he’s not shy about changing his look to meet the challenge of changing times.
Today, we’re excited to introduce our latest Bill, featuring the new wings of innovation. Bill’s new look is a direct link to the greater Paymentus mission of creating and delivering the next generation of billing, payment, and fund movement capabilities. Because if there’s one guy who can see beyond the horizon, it’s Bill.
Where will Bill take us with these wings of innovation? Here are just a few areas of focus that are quickly becoming part of the everyday billing and payments conversation.
Artificial Intelligence (AI)
AI is an untapped technology in terms of its applicability to billing and payments. The challenge for many organizations when it comes to AI is where to start. There are enterprise-wide applications and benefits, but how can it be applied to produce the greatest outcomes?
The data-gathering opportunities offered by AI have never been greater, which will inevitably lead to customer experiences that are timelier and more personalized than ever before. Imagine a scenario where your billing and payment system is automatically geared to detect potential late payments based on previous customer behaviors. Such a system could also send a proactive reminder, completely automating a process that can drive more on-time payments. This transformative power is on the cusp of becoming a reality.
Flexible Deployment Options Ensuring PCI Compliance
Staying ahead of today’s fraud landscape must be priority #1 for all organizations. The challenge becomes achieving PCI compliance while offloading PCI burdens, all while deploying a solution that conforms to your needs—not vice versa.
Paymentus continues to expand its ability to serve by offering three deployment models to fit each organization’s unique needs. Through the fully hosted and iFrame integration models, Paymentus assumes all PCI compliance burdens. This keeps organizations ahead of the highly dynamic fraud landscape while delivering the ideal deployment to fit their capabilities and business case.
In-Person Optimization
Value of Bills Paid in Person
In 2023, $448 billion worth of bills were paid in person.* Whether driven by need, preference, or habit, in-person payments are here to stay. The manual processes involved in processing in-person payments can make them a challenge for organizations and staff alike.
Point-of-Service Cashiering capabilities must deliver the same type of digital innovation expected from web and mobile applications. The ability to streamline reporting and reconciliation across multiple registers, payment types, payment methods, and payment channels eases staff burdens and ensures that customers paying in person receive the same convenient, efficient experience as those paying by digital channels.
Ride the Wings of Innovation
Of course, this is just a small sample. We’re very excited to continue our legacy of innovation and add to our numerous patented capabilities that have already transformed the world of billing and payments. Whether it’s predictive AI, centralized wallets, or something yet to be unveiled, we’re ready to help you soar!
If you’re interested in learning more, let’s talk! Our team can walk you through a demo of our solution or share some innovative ideas that can help your organization Bill Better.
* How Americans Pay Their Bills, 2023
