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Payments and Donations Now a Web Self-Service via Texting

TMCnews Featured Article

November 24, 2010

Payments and Donations Now a Web Self-Service via Texting

By Jaclyn Allard, TMCnet Web Editor

Vanco Services, LLC, a provider of electronic payment solutions, revealed a service, giving clients the ability to accept payments or donations sent via text message or short message services (SMS), and allowing individuals the ability to text payments anytime, anywhere.

Mercatus LLC, a consulting firm, released a statistic claiming that 80 percent of those between the ages of 18 and 34 will use mobile financial services within the next five years. In a press release, Jeanne Spencer Rose, CEO of Vanco (News - Alert) Services, said, "We anticipate strong interest in this new service, especially among people who are always on their mobile devices.”

Bill Learst, executive vice president and chief technology officer of Vanco Services, eluded to the fact that as technology progresses rapidly, financial technology not an exception, innovative electronic solutions need to be made available to clients and consumers.

Vanco is a PCI (News - Alert) (Payment Card Industry) Level 1 Compliant Service Provider, offering several electronic payment and currently processing electronic payments for more than 15,000 clients, and with this new capability perhaps more.

Recently, TMC (News - Alert) reported that a company focused on reaching the client in a way that is both personal enough to grab their attention and impersonal enough to be cost-effective, should deploy an SMS solution into its marketing plan. The SMS initiative would then be used to notify your loyal customers about sales and promotions, remind them about appointments or deliveries, as well as spread the word about special events, and in this case promote and offer an SMS payment service. With over five billion mobile subscriptions in the world, and nearly 300 million of those in the U.S., texting can claim the title of a well-establish consumer media.

As officials from mobileSQUARED commented in a statement, “Mobile is an immensely powerful ally for the marketers, but it is messaging that transforms mobile from a powerful tool, into a devastatingly effective channel.” The key is to strategize on how to best integrate SMS into the overall marketing strategy. 

Jaclyn Allard is a TMCnet copy editor. She most recently worked on the production team at Juran Institute, a quality consulting firm producing its own training and marketing materials. Previously, she interned at Curbstone Press, a nonprofit publishing press in Willimantic, CT, and fulfilled the role of Editor-in-Chief for the literature and arts journal published by the University of Connecticut. To read more of her articles, please visit her columnist page.

Edited by Jaclyn Allard

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