Consumer Initiated Payments

Magic-Wrighter's Customer Initiated Payment program allows business customers to receive payment from their customers via the Internet or by phone.

Research shows collecting payment from consumers electronically can save a business 50% or more over the traditional method of taking payments through the U.S. mail or a lock box service.

The Customer Initiated Payment service allows consumer access 24 hours a day 7 days a week. Consumers can make payments at anytime and schedule posting dates into the future.

Magic-Wrighter's Customer Initiated Payment program works well when offered to the consumer in conjunction with the Pre-authorized Bill Payment program. This gives the consumer a choice of being in control of their payment or having the benefits of automatic payment.

Your financial institution can generate more income because of the millions of bill payments that are paid every month by consumers.

Your business customers are notified each morning via the Internet of all payments processed and posted to their corporate account for the previous day. The Customer Initiated Payment software provides a daily payment transaction file that can be retrieved and posted to your business customers accounts receivable system.

Your business customer can forecast cash flow by reviewing the daily Pending Payment Report.

Additional features allow your business customer to extract and download next payment information from their billing system. This allows consumers and trading partners the option of reviewing their next payment due date and amount via the Internet.

Magic-Wrighter's Customer Initiated Payment program automatically includes online return payment reports to your business customer. NSF payments can be automatically rescheduled for a second posting attempt.