The company has been growing rapidly and their goal was to make the service as easy and convenient as possible for consumers, at the same time also decreasing the initial payment defaults and bettering repayment flows.
The challenge that Mogo was facing was how to improve the payment flow. With one simple and quick solution they wanted to make the flow more user friendly for their customers as well as decrease initial payment defaults and increase the performance of debt collection. One very important criteria was also that the solution had to be integrated quickly without a need to carry out extra time consuming technical developments.
As LinkPay met those requirements, the company had the new payment solution integrated and running within a couple of weeks.
What was the result?
Instead of asking the customer to log in to an account and make a payment, the company can now send a pre-filled payment link via a text message, email or even QR-code. Customers can now just enter their card details with ease and press the payment button.
This new integration has significantly improved the collection of overdue debts, where otherwise automated collection attempts are not allowed by the regulator. “Another positive thing is that customers who have previously made payments using LinkPay are asking for the payment link before the next payment is due,” commented Helen Rookäär, the Head of Mogo Finance Debt Collection.
Another positive thing is that customers who have previously made payments using LinkPay are asking for the payment link before the next payment is dueHelen Rookäär, Head of Mogo Debt Collection
LinkPay is a useful tool for all types of businesses: allowing you to accept online card payments without any need for IT development or even a website. Our platform allows you to create a payment link with predefined details, and simply forward it to your customers via email, text message, social media, or even a QR code. Use-case scenarios with LinkPay are endless.
Additional key benefits that you can get through EveryPay are:
- EveryPay´s Tokenisation: allows your customers to securely save their card details, and encourages repeat payments with just one-click checkout.
- EveryPay´s subscription Payments: allows you to take payments at any interval you agree with your customers – a perfect product for any fees charged on a regular basis.
- Open Banking features
EveryPay is PCI DSS level 1 certified: offering the highest security standards and protecting you and your customers.