MasterCard
MasterCard and the Utilities Industry: Sharpening Your Business Edge With Card Acceptance As a credit, charge, and debit card service provider, MasterCard serves consumers and businesses, both large and small, in 210 countries and territories and offers a wide range of payment solutions in the virtual and traditional worlds.
can help do this. When your customers authorize you to bill against their MasterCard account at pre-determined periods (e.g., monthly, quarterly) and the amount is the same or fluctuates – that’s “Recurring Payments by MasterCard.”
A Growing Industry Trend Through deregulation, federal and state government reforms, and rising competition, utilities are faced with tough challenges. There is increasing pressure to reduce costs and increase operating efficiencies, while at the same time provide the high level of service consumers are demanding. Accepting MasterCard cards can be an important component in achieving both your financial and customer service goals, by helping your company: • Reduce processing costs • Receive payment faster and reduce losses from processing problems • Offer additional payment options • Enhance loyalty and retention
Convenience, Flexibility, Benefits More than 79 percent of U.S. households carry a payment card for the convenience, the flexibility, or the ability to earn benefits from a co-branded or affinity card program. Today, these cardholders are looking for more opportunities to use their cards. As a result, many service-oriented industries, including utility companies, are accepting payment cards, offering their customers an attractive payment alternative to cash and checks. Combine this convenience with improved customer service and reduced operating costs, and it’s no wonder card acceptance is becoming an integral part of many utility companies’ strategic plans. For 30 years, MasterCard has been America’s premier payment system. Now you can take advantage of all we have to offer, including materials and programs designed specifically for utilities service providers. Imagine the ability to streamline your billing process! “Recurring Payments by MasterCard”
Solution Provider
To address the growing consumer demand for recurring payments, we have introduced a new program to merchants that is designed to significantly lower the cost of card acceptance for participating service providers – utilities, insurance, telecommunications, and cable TV merchants. This program, the Service Industries Incentive Program, or SIIP, has multiple advantages for participating merchants. By accepting MasterCard cards for recurring payments, you should experience a wide range of measurable benefits, including: • Improved cash flow versus checks • Customer retention and loyalty • Improved collections – reduced write-offs and bad checks • Enhanced good will from offering customers a convenient payment option they want • Processing ease By accepting MasterCard cards, you’re also offering your customers loyalty-building benefits. • Timely payment of ongoing bills • Potential to earn rewards • Ease and convenience To support the introduction of recurring payments, MasterCard is offering participating merchants an attractive incentive interchange rate for all qualified transactions. In exchange, participating merchants agree to promote recurring payments by MasterCard to their customers, using a variety of marketing tools ranging from statement inserts to statement messages (these may be turnkey MasterCard materials or merchant materials pre-approved by MasterCard). Plus, MasterCard has created a financial model, which can be used to assist you in analyzing the financial impact of accepting MasterCard cards for payment.
w w w. U t i l i t i e s P r o j e c t . c o m
www.mastercardmerchant.com CONTACT INFORMATION Robert W. Selander President and Chief Executive Officer Alan Heuer Senior Executive VP, Customer Group Ruth Ann Marshall President, North America Fred Gore Senior VP, North America Acceptance MasterCard International Incorporated 2000 Purchase Street Purchase, NY 10577 Phone 914.249.2000 Fax 914.249.4107 BUSINESS CONTACT
Carol Watson VP, New Markets
[email protected] Phone 914.249.6243 Fax 914.249.4107
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