PaySimple Increases Billing and Collections Efficiency for Utility Co-Op

PaySimple, an industry-leading provider of payment management solutions for businesses, is pleased to announce it has been chosen by San Luis Valley Rural Electric Cooperative to provide billing and payment processing services. San Luis Valley’s customers can now elect to participate in an auto-recurring payment program or to make payments by phone via ACH direct debit or credit card.

Across industries, consumer demand for payment method flexibility is becoming an increasingly important factor in how organizations conduct business. Small power companies and cooperatives are finding that in order to compete with large utilities—especially in price-sensitive deregulated markets—they must not only increase accounts receivable system efficiency, but also meet customer demand for easier, more convenient payment options. Recognizing these circumstances, San Luis Valley is now utilizing PaySimple to streamline its entire billing and collections process, and also to offer its customers more options in how they pay monthly electric bills.

“The time-saving benefits of the PaySimple system are astounding,” said Joan Waudby, Corporate Treasurer of San Luis Valley. “Our old system required handwriting information, waiting to submit the payment, and then shredding the information. We can now easily access the securely hosted PaySimple system via the Internet and process payments in real-time.”

“Because of its user-friendly interface and time-saving features, PaySimple is an ideal solution for the co-op utilities industry,” said Eric Remer, PaySimple CEO. “Our gateway enables regional co-ops to better compete with large utility companies by streamlining billing and collections processes and by building customer loyalty through providing more satisfying payment options.”

PaySimple provides a complete payment gateway that is designed to process one-time payments and auto-recurring billing schedules. The system processes payments via credit or debit card, ACH direct debit, and electronic conversion of paper checks. Payments can be made conveniently over the phone, automatically with recurring billing, or online using a secure form hosted by PaySimple. The system automatically emails receipts, and funds are directly deposited into the merchant’s designated bank account. In addition, PaySimple stores all sensitive customer information in a secure PCI-compliant system. After the first payment, the easy-to-use search feature simplifies subsequent transactions by retrieving previously stored information.