Independent Banker - April 2023 - 26

PORTFOLIO
Mallory says. " This is another tool
that offers both. "
Text-to-pay can increase payment
activity, shorten the time to get
paid for businesses and provide the
seamless experience that consumers
are demanding, Kuykendall says.
Statistics show a much higher open
rate for text messages than email,
and customers are likely to pay more
quickly. In addition, text-to-pay
features automated functions, like
recurring billing, that decrease time
spent on administrative tasks.
" It also gives businesses an
additional avenue to directly market
to their target audience, giving them a
competitive advantage, " she says.
A differentiating factor
The pandemic increased the need
for contactless payment options, and
solutions like text-to-pay have become
sought-after trends among business
owners, Kuykendall says.
" Text-to-pay is a powerful
solution that benefits businesses by
streamlining the payment process
and decreasing the payment cycle, "
she says. " It's convenient, fast and
secure and enhances the customer
experience. It's just one example of
many payment solutions that can help
make running a business easier. "
In today's competitive landscape,
community banks should use every
opportunity to set themselves apart.
" It's important for a community
bank to offer competitive solutions to
" We're all looking for convenience
and options with payments,
whether we are a business owner
or a consumer. This is another tool
that offers both. "
-STEPHANIE MALLORY, COUNTRY CLUB BANK
help their business customers grow, "
Kuykendall says. " Offering the latest
payment technology and solutions in
a consultative and proactive manner
helps community banks stand out
among their competitors. "
As a community bank, Country Club
Bank doesn't exist " just to process
transactions, " says Mallory. The bank
seeks to " build relationships and be a
committed partner for its clients. "
The bank's business customers
need to spend their days focusing on
their business rather than finding new
payment options, she says. Country
Club Bank adds value by bringing the
expertise, advice and solutions that
improve their operations " so they can
focus on what matters most. "
" Introducing new payment
innovations that become a game
changer for their business strengthens
our partnership for the long term, "
Mallory says. " We are invested in
their success with the capabilities to
help them grow. "
The key to offering and marketing
these solutions is for community banks to
first understand their business customers
and the payment trends that will affect
their businesses, Kuykendall says.
" Every business is different, " she says.
" Contactless payment solutions like
text-to-pay are a great fit for any industry
or business that features recurring
billing, but it can also be used for onetime
payments. "
Text-to-pay options can be a
particularly good fit for many business
types such as auto repair shops,
medical practices, salons, retail stores,
restaurants or any business that offers
subscription-based products and
services, Kuykendall says.
Community banks can offer
these services through third-party
relationships with vendors that offer
text-to-pay as a standalone product, she
says. However, they may also find they
already have access to options for textto-pay
in their existing merchant services
program, such as existing products that
include sending an invoice as a text as
an option.
" Contactless payment solutions
like text-to-pay are a great fit
for any industry or business
that features recurring billing. "
-JOAN KUYKENDALL, IRONWOOD STRATEGIC
26 // ICBA Independent Banker // April 2023
" Community banks will need
to partner with a provider who
understands their bank culture and
offers solutions that can be tailored to
their customers' needs, " Kuykendall
says. " The partner also needs to provide
exceptional customer service, sales and
marketing support. "
Katie Kuehner-Hebert is a writer
in California.
Independent Banker - April 2023

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