mINVOICE, short for mobile invoice, is an easy and fast one-click way for customers to quickly review, accept and pay for outstanding invoices.
mINVOICE has proven to produce high utilisation rates with improved cash flow due to speed of payments. Business case for enterprises include cost efficiency throughout whole sales invoice process thus making it attractive option to other invoicing systems.
The mINVOICE service has been developed in conjunction with Nets (formerly Luottokunta) to facilitate and expedite the payment of invoices.
The mINVOICE solution allows customers to pay their bills immediately from any mobile phone with a reply to a text message in less than 10 seconds! The customer simply receives a text message with the amount due and replies with a single letter authorizing the bill for payment.
From there, Bookit’s secure remote server authenticates the device and initiates the transaction. The customer account details stay in the secure environment of the payment processor.
In the case that a customer needs to view the details of the invoice before accepting payment, a mobile optimized copy of the bill is also included in a secure web-link.
The first payment is done through Nets’ official payment web-form using a credit- or debit-card and when the customer replies to an authenticated SMS message from BookIT, their mobile phone number is officially registered as a trusted device for paying future invoices with just one-click.
Providing the customer with the simplest and most convenient possible way results in decreased collection times and improved cash flow. mINVOICE also reduces costs related to delinquent accounts such as printing and postage costs of additional mailings, outbound calls related to debt collections, and incoming customer service calls. mINVOICE also eliminates the processing costs of physical checks, IVR payment, and payments through an agent.
The biggest advantage to using mINVOICE is the opportunity to build and maintain customer loyalty by eliminating hassles, service disruptions, and late fees and instead providing the customer with the instant gratification of one-click bill payments and possibility to offer other value added services. mINVOICE service has seamless integration with other BookIT value added customer services, e.g. such as customer feedback and additional sales opportunities.