Utilities

Lower transaction costs by up to 90% and create a more efficient operating model. All while protecting (vulnerable) customers and your revenue.

Working with YTS, utility companies can increase conversion by offering seamless payment experiences and make use of insights into customer finances to optimise billing times.

Seamless payments

If your customer has not paid their bill, they normally receive several letter, email, or phone call reminders, which redirect them to pay on a website, followed by contact from a debt collector. This is an expensive, cumbersome process with many points of failure.

With YTS, you can offer a range of seamless payment options, including QR codes or text messages that redirect your customer directly to their bank environment to pay the bill. These fast, easy flows have the potential to save significant amounts of money and time spent on chasing customers.

Data-driven recurring payments

Currently a percentage of your customers are billed in the days leading up to when their salary is deposited. And a number of these customers, though not financially stressed, may be somewhat short on cash at these moments, leading to late payments.

With your customer’s consent, open banking solutions such as YTS offer the possibility to automatically understand which the best day of the month, or the optimal frequency, to initiate a payment, and create a recurring payment on that day. Again, this has the potential to save significant amounts of money and time currently spent on chasing customers with letters or on the phone.

Manage a relationship, don’t be a debt collector

Utilities serve a wide range of people, including financially vulnerable. Having access to real-time financial profiles of customers can help you identify those most at risk, and ensure they can manage to maintain their payments without undue stress, while simultaneously lowering collection costs.

Curious to hear what our API can do for your business?

GET IN TOUCH


Leave your details and one of our YTS experts will be in touch.

Thank you for your interest in YTS. We'll get in touch with you within 2 working days.