Imagine a world where you had to pay for your Amazon purchase with a check before it would arrive. Do you think it would still be the same shopping conglomerate it is today? Online payment options are so commonplace these days consumers think it’s odd or even an inconvenience when merchants don’t offer the option. This is becoming even more true for the insurance world, with companies like Esurance servicing the customer entirely online. Despite the consumer trend, most independent insurance agents still hesitate before providing credit card processing on their website.
At ASNOA, we know setting up merchant accounts, establishing a payment gateway and dealing with credit card processing fees can be timely and costly. When you run your own small business, every dollar counts to keep your profit margins up. Operational costs and fees add up quickly and, in the insurance world, keeping customer costs down is king.
There’s also a lot to think about with accepting payments via credit card that go beyond cost. You have data security and PCI compliance to now think about. You need to research and select a payment gateway that is user-friendly and transparent enough to keep customers satisfied. You also have to determine if you will allow recurring payments, monthly installments and automated messaging through your merchant account and if the ROI on those features are even worth the cost. Lastly — as if that weren’t enough — it all has to easily integrate with your website and stay current in the ever-evolving technology space.
With all that being said, the ability to accept electronic payments is a necessity that allows you to stay ahead of competitors. Insurance, and really anything customer-facing, will continue to be predominantly done online. Offerings such as secure credit card processing on your website and fast customer services responses are necessary factors to stay competitive, period. Because so much of your business is based upon payments received, it is pivotal to provide payment options that consumers have come to expect today.
Leveraging online payment features will help you reach new connected customers and build loyalty with your consumer base. But, we know how overwhelmingly busy you are running your own agency. As an insurance network, it is our mission to make your life easier. As a result, we spent time researching and vetting credit card processing companies, negotiating lower rates and putting together a discounted offer that saves you money.
The result: we recommend ePayPolicy for your online payment solutions. ePayPolicy was founded by insurance agents who were frustrated by the costly fees associated with payment processing that ate into commissions. They developed ePayPolicy out of the need for insurance agents to stay competitive while still saving money.
With ePayPolicy you get:
- Easy website integration;
- Multiple payment options;
- PCI DSS compliance;
- Mobile compatibility;
- Transparent reporting;
- Custom merchant account branding and e-receipts;
- And a low ASNOA member-only cost.
We also saved the best part for last: transaction fees can be passed along to the payer. And, customer data gets auto-populated on the payment page. That way, you can offer online payments that are seamless without affecting your profit margins. Sound too good to be true? We encourage you to see for yourself at asnoa.com/paymentprocessing.
ASNOA is the go-to independent insurance agency network for truly individualized support and genuine results. Whether you are a captive agent looking to transition into owning your own business, or a current independent agent looking to grow your book of business, ASNOA can help. With ASNOA, you don’t have to spend time worrying about daily operations. Instead, you can happily focus on doing what you love: selling insurance.