Revolution Payments, a credit card processor specializing in the B2B and B2G payments arena, announced today that text payments for its gateway customers are now available in the USA. The text-to-pay solution supports credit cards and ACH payments.
The integration of text-to-pay is in direct response to growing customer demand for these services. Part of this has been from the growing popularity of businesses looking for alternative payments during the COVID-19 pandemic. Text messages have a 98% open rate. This means companies will be paid quicker and more often.
Text-to-pay gives our clients different payment alternatives to meet the growing needs of its customers, said Sean Jones, president of Revolution Payments.
An added benefit to customers who accept credit cards from businesses or government is that all B2B and B2G transactions are automatically reclassified to Level II and Level III interchange rates AKA level III processing, including text-to-pay. Level III processing can lower the interchange cost of accepting commercial cards by up to 40%.
Qualifying for level III interchange rates typically requires a merchant to manually enter up to 11 data fields of information. This can be both time-consuming and impossible for some e-commerce merchants. The Revolution Payments gateway automates this entire process, allowing a merchant to significantly lower the interchange cost for accepting commercial cards.
The new Text-to-Pay feature offers a secure, convenient and simple to use solution that is helping businesses streamline their payment processing. Businesses interested in learning more about Revolution Payments
Source : https://www.newswire.com/news/revolution-payments-announces-a-credit-card-ach-text-to-pay-feature-21612934