Vesta Corporation, a leader in mobile payment solutions, today announced the launch of DelayPay (www.delaypay.net), a retail installment program for wireless refills. The new service enables customers to refill their mobile accounts immediately and pay the amount due over 30 days…
Vesta Corporation, a leader in mobile payment solutions, today announced the launch of DelayPay (www.delaypay.net), a retail installment program for wireless refills. The new service enables customers to refill their mobile accounts immediately and pay the amount due over 30 days. Currently live in production as a pilot with a major operator in the U.S., DelayPay is offered to select customers who are paying their mobile bills online.
Late payments are a major concern for mobile operators, both in terms of lost revenue and the potential for increased churn. According to payment data based on over one billion mobile transactions processed by Vesta, nearly 25 percent of prepaid consumers pay after their expiration date each month. DelayPay gives approved consumers a flexible option to manage spending, pay on time and ensure continued phone service.
“Today’s economic challenges are definitely influencing the way consumers pay bills,” said Joshua Rush, Vesta vice president of marketing. “With DelayPay, mobile customers can have more time to pay for their wireless refill so they can continue to stay connected with the people and information that matter most.”
Vesta evaluates each applicant by leveraging extensive knowledge of the prepaid mobile customer base and proprietary risk profiles. Once approved, the customer’s wireless account is refilled in real time and the customer pays for the refill in two equal installments over the following 30 days. Consumers are charged a single $5 flat rate charge for each DelayPay.
“The response to our pilot program has been overwhelmingly positive,” adds Rush. “DelayPay solves a payment issue that has plagued the telecommunication industry for years. It’s not every day that you can provide a solution that benefits customers and helps mobile operators improve customer retention and satisfaction.”
Vesta will be showcasing DelayPay to the mobile industry on February 24th at the 2014 Mobile World Congress in Barcelona at Hall 7, booth 7013 MR.
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