Choose an SMS payment system that offers security, flexibility, and convenient rates. Consider accessibility for both parties and research fees, customer service, and transaction times. SMS payments offer global banking solutions and require encryption and live customer service. Compare transaction times and research international transfer options.
Choose the SMS payment system that offers you security, flexibility and the most convenient rates. Consider how the system will work for you and also for those you request payments from or send payments to. After carefully weighing these considerations and narrowing down your options, choose the SMS payment system that offers the best of these considerations along with excellent customer service and the fastest transaction times.
Also known as a mobile payment system, the technology allows money to be sent and received via a short messaging service from a wireless device. Such mobile transactions are not only convenient, but create global banking solutions for individuals who don’t have easy access to traditional banking. Before deciding which SMS payment system to use, consider who will be requesting or sending money from and ensure that an SMS payment option is also accessible to this party.
Flexibility and security are essential, so make sure the options you’re considering offer both. Since SMS payment systems work practically, it is important that the transactions take place over an encrypted network and that the company can be accessed at any time to request funds, make a payment or check the balance of existing funds. Make sure you select one where you can also speak to a live customer service agent if you need to. Spend time researching for yourself what others are saying about a bank or company’s customer service on blogs, forums, and other places where you can offer consumer feedback.
Many banks and companies offer low introductory rates on micropayments or waive account fees. While this is always a plus, you still need to take the time to compare all other applicable fees. Most SMS payment systems allow recipients to receive money at no extra cost. Some even allow you to transfer money from your bank account to a mobile payment service at no extra cost, but be sure to research the availability of these options thoroughly before making your decision.
Another determining factor in choosing an SMS payment system should be the time it takes to send and receive money. While most offer instant transactions, transferring funds from your mobile account to your bank account can be another story. Some take as little as 3-4 business days per transaction, while others can take longer. Compare the times offered by an SMS payment service and use this information to make your final selection. Also, if you plan to use the service to send money to a recipient in another country, make sure the service allows it and ask about transaction times for international transfers.
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