ItsPayd.com, a company that makes an application to help dealers collect past due payments, recently added Rapid Response Monitoring as its first Affiliate Partner Program member, a program that specifically applies to companies with a central station.
The application uses text messages and emails to notify customers of past due balances and gives them a link to either send a one-time payment toward that balance or set up a payment plan, depending on their contract.
The idea behind ItsPayd is to help companies with collecting past due payments, but in a more friendly way that preserves the customer relationship and ultimately reduce attrition. “We can actually have the greatest impact on improving customer experience at the least likely moment, and that’s at the past due space,” Ken Green, company CEO, told Security Systems News.
“We’ve got one of our customers, who’s a [security] dealer—they’ve reduced attrition by 40 percent,” Green said. “We’ve recovered over 50 percent for them within the first 30 days.” The company benefited even more by maintaining the relationship and keeping these customers on, he said.
ItsPayd.com does about 90 percent of its work with security companies, mostly security dealers and monitoring centers.
Rapid dealers receive discounts on ItsPayd’s monthly subscription fee, through Rapid being a part of the Affiliate Partner Program. The Affiliate Partner Program specifically applies to third party monitoring centers and full-service companies with central stations. ItsPayd is currently looking to get more members in the program, according to Green.
ItsPayd is currently working on an integration platform with MKS, to be completed around the end of the summer, Green said.
ItsPayd was founded last year and went to beta with its product in August 205. The company went live with its offering in January 2016.