Increase Your Revenue by Adding Another Payment Option for Your Practice
A new, innovative service for veterinary practices that combines credit card recurring billing, upfront funding, credit authorization and convenience
In order to receive payment for a veterinary procedure, your practice may currently accept a one-time credit or debit card payment or offer your clients the opportunity to enter into a finance plan with a third-party, such as CareCredit. Although both options provide upfront funding and are the revenue bedrock of your practice, they both have certain disadvantages. Some clients do not wish to put 100% of the procedure cost on their credit or debit card. And third-party financing has very high interest rates and “fine print catches" such as minimum payments, stiff late penalties and retroactive interest.
There is another option: a fully-secured, upfront-funded credit card payment plan.
Unused credit on Visa and MasterCard credit cards today totals two trillion dollars, averaging approximately $8,000 per card. Seniors (65 and older) are the largest users of credit cards, while Millennials (age 25 through 34) are the second largest group. As you know, both groups are big pet owners.
Surveys indicate that when credit card users are offered interest-free installments on their existing credit cards with no required credit check or application process, more than 50% prefer installments over promotional incentives, such as discounts.
Here’s how it works.
Your staff enters the following information in a secure online portal:
1. Client name and email address
2. Full cost of the procedure
3. Number of installments requested by the client (no less than two and no more than 12)
4. Visa/MasterCard info.
In less than 30 seconds, an email is sent to the client’s cell phone for an immediate approval of the payment plan.
It’s that simple and that fast, with no application to fill out, no credit check and no waiting around.
Charges appear on your client's monthly credit card statement in the name of your practice.
Upfront funding of the payment plan hits your bank account in three banking days.
And your fees are less than your third-party finance provider.
If there is not sufficient credit on the card or if a longer than 12-month payment plan is requested, you still have the option of using your traditional third-party finance provider.
If you would like to see a demo, with complete pricing info, please click below: