Businesses using text-to-pay via Kenect have increased 100x since mid-2020. Increasingly, businesses of all types are collecting payments via text.
According to recent research, the use of contactless payments in the U.S. has increased 150% since March 2019. The U.S. now has the most contactless transactions of any market globally at 175 million. Additionally, it’s reported that about 66% of consumers would pay more for a service with a mobile texting channel supporting it.
And believe it or not, law firms are at the forefront of this.
Why are law firms turning to text messaging to help them collect payments? The reasons are simple:
• Faster collections: Late payments requested via text with Kenect’s platform are collected nearly 100% of the time.
• Time savings: Law firms are saving up to 40 minutes per person per day by collecting payments via text.
• Customer response rate: Compared to the 10% average open rate of email communication, 98% of texts are opened and 96% are read within 3 minutes.
And then here’s the biggest stat: the data we’re seeing indicates that businesses can collect payments 85% faster with text-to-pay than with any other method. We’ve written about this statistic specifically in previous blog posts.
Step 1 – Get set up with text-to-pay via Kenect. – If you’re a Kenect customer, text-to-pay is basically free. You can get set up quickly and easily.
Step 2 – Once you’ve set it up, test it out. Send one client a text message invoice. Our data indicates that they’ll pay within minutes.
- Click the Payment icon while you’re texting a client
- Add the payment and invoice information
- Send the text
- The client will then put in payment information and pay you, securely, via text.
Step 3 – Make money
Law firms that are using text-to-pay report that they’re getting paid 85% faster. It’s that simple.