Self-Service Payment Portal: Digitally Empower Your Clients and Simplify Account Access

Self-service portals for merchants and customers have become an integral part of the eCommerce and subscription businesses. The configuration of a user-friendly portal is as important as delivering a user-friendly customer self service portal.

The digital needs of customers and merchants have expanded over time and fintech enterprises or platforms play a major role in delivering the solutions and features to the merchants and their customers.

Talking about the self-service payment portal, several features can be enlisted such as getting rid of snail-mail for invoices, and payments, and pertaining features that harness the use of the payment portals for the merchants and buyers.

In this article, we are going to work on the features of the self-service payment portal in detail. Let’s look at what we are going to cover:

  • Presentment Of Invoices
  • Self-Service Payment Portal Configurations
  • Unified View of Payment Processes
  • Online Payment Options
  • Dispute Creation and Tracking
  • 360-Degree Buyer Visibility Across Globe

Presentment of invoices

Automated invoicing and billing are the core preferences offered by the fintech and subscription management platforms. Under the canopy of the presentment of automated invoicing and billing, certain actions are taken that keep customers and merchants away from the hassle of manual labor.

With a self-service payment portal, customers can access their automated generated invoices for their subscriptions to the product or service. Merchants can set the billing timeline or the timebox at which the invoices have to be generated at every interval. Customers will be able to access their invoices through the self-service payment portal whose access is given to the customers by merchants.

Automated invoices and being able to access them save the customers and merchants from the hassle of manual invoices and errors that are prone to them. The visibility of the invoices will become easier and clearer.

Through a self-service payment portal for merchants, the invoice tracking feature would help to see the history of customers concerning if invoices are viewed, downloaded, played, or otherwise of the mentioned tracking parts.

Also Read: Customer Self-Service Portal for SaaS in 2022

Robust Online Payment Options

When we talk about payment options, there are a lot of features that come under them.

Online payment options entail payment methods, payment gateways, payment customizations, and personalization for both the merchants and customers. Speaking from the perspective of both merchant and customer, a self-service payment portal enables them to select the payment format they found relatively easier.

Payment Formats

Merchants can provide a number of payment formats using the self-service customer portal to enable their clients to pay seamlessly. Whether you want to pay through ACH, credit card, debit card, or some other method, the choice is all yours to select from.

Custom Billing Dates

Want to set payment reminders on the billing date of your choice? The self-service payment portal enables customers to set the billing dates according to their preferences. For recurring billing and invoicing, customers will be able to set the timebox for their subscription charges such as annually, monthly, biweekly, and so on.

Payment Methods

Coming to payment methods, which are significant service providers for the smooth flow of cash, in and out of an organization or business. SubscriptionFlow’s self-service payment portal enables customers to select the payment gateway they want to pay through as plenty are integrated into the system. For example, you can choose your payment gateways from the list consisting of Stripe, Braintree, Adyen, PayPal, and many others available to select from the portal.

Payment Tracking

Another robust feature that is vital for merchants is payment tracking. With the payment racking feature, merchants can simply for to their portal and check the customers’ list to see the customer’s payment tracking. The following fields are made to be assigned according to the payment status:

  • Paid
  • Due
  • Overdue

This saves from the hassle of checking payments ad keeping track individually. Hence, having a self-service payment portal fuels automation and provide a full fledge platform to make your business processes smooth and improve business health.

Therefore, we can say that there is a unified view of payment processes managed by the self-service payment portal – a major key to the growth of business and customer satisfaction.

Also Read: Customer Retention Cheat Sheet for SaaS Businesses

Proration Invoicing – Change of Subscription Plans

In subscription-based models, customers have different plans and choices to make depending upon the features. Apart from this, some users start their subscriptions in the mid of the month or on some odd dates – the role of proration plays a major role here.

A self-service payment portal enables you to enable proration by creating disputes or generating tickets for customers’ support in the issue of overcharging.

In case you want to downgrade (change the plan to a low-priced tier) or upgrade the subscription plan, you can manage the novices and billing accordingly.

A self-service payment portal is built to aid clients and merchants in every aspect so that they can simplify the payment and cash processes seamlessly.

How does ‘Self-Service Payment Portal’ Serves B2B SaaS Businesses?

For B2B SaaS businesses, the self-service payment portal is useful as it renders very useful purposes. In this section, we are going to talk about the perspective of SubscriptionFlow services for the self-service payment portal.

SubscriptionFlow is a subscription management portal rendering its services for B2B SaaS businesses. Our self-service customer portal is specifically built to carry out all the needs of the merchants and businesses.  Our self-service payment portal is integrated into your system and you can maintain and monitor the processes seamlessly.

We have payment methods, payment gateways, and payment configurations all available in the self-service portal for both merchants and customers. Merchants can customize the self-service payment portals for their customers and account management.

Our automated self-service portal fuels the fast processes and reduces the manpower required for carrying out the processes

In conclusion, it offers 4 things:

End-to-end automation: Automation is the king feature. With automation, all the payment processes will be automated and you will be saved from time-consuming processes. Take the business to new heights with automation.

Time and cost optimization: When businesses get third-party integrations and other features integrated into one system, the cost-effectiveness takes a high percentage. You do not have to spend a huge capital separately on one platform rather only one platform serves you all. Furthermore, you do not have to switch between tabs or windows, just stay on one platform and let automation handle your business.

Customer empowerment: Customer empowerment delivers the value of your business to customers. Enabling your customers to handle their plans, manage bills, and process their payments empowers them and makes them condiment of the product or service they are using.

Better UX and CX: Providing a self service payment portal to the users builds trust while providing a better customer and user experience.

Ready to Automate the Billing, Payment, & Invoicing Processes through SubscriptionFlow?

If yes, schedule a demo with SubscriptionFlow and give your business the wins of the automation.