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Text receipts with CDP E-Receipts
(April 8, 2014) — Two out of three Americans use text messaging on a regular basis (Comscore, 2/12). 4 billion people worldwide use texting as a means to communicate (Observer, online, 5/12). Various studies indicate that texting is growing as the preferred method of cell phone communication. Why the switch to text? The benefits are numerous: texting is quick, brief, concise, and minimally intrusive — best of all, there are no passwords to remember.
Consider the following facts from Pew Research and textknology.com
•Over the next 5 years, mobile web use will outpace Internet access by computer
•9.8 trillion text messages were sent in 2012
•80% of cell phone owners use text.
•95% of text messages received are open and read within minutes
Receipts can be transmitted from the teller line using three different methods: print, email or text. At a major financial institution, clients were offered a choice: email, print or no receipt. Email was by far the most popular choice, they did not have a texting option. Considering that texting is preferred over email it makes sense to offer text receipts. With more than 6 billion mobile subscribers worldwide, this is not a trendy marketing move, it is a sound technological advancement that will not only attract clients (especially younger ones) but increase bottom line profits as fewer material resources are used to produce a receipt.
“A 2010 Tower Group study found the cost of handling a customer transaction ranged from $3.75 per call center, to $1.34 per branch, to 60 cents per ATM, to 14 cents per mobile.” (CUinsight, 3/7/14). Text receipts are eco- friendly, simple and quick. They are as portable as the phone they are sent to and can be seen instantly while still in the teller line. Customer wait time is reduced since the text is received instantly – no waiting on a printer.
The teller’s workflow remains the same – instead of selecting print or email, the teller chooses text. The teller is prompted for the client’s phone number (or asked to verify it if previously used) then the client will receive a text with access to the receipt. It happens almost instantaneously – faster than printing. On the more technical side there are security features built in so that other phones cannot access that receipt – but if in the future the user changes phones they can still receive their receipt.
Contact Complete Data Products today to learn how easily and inexpensively you can STOP PRINTING RECEIPTS with CDP E-Receipt software.