In the recurring payment industry, a seamless payment payment process is a successful one. At the end, the customer is happy with the fact that the payment is scheduled to move at the selected frequency without manual intervention and supervision. When this isn’t ensured at a fast enough, or expected speed, customers tend to abandon the process and eNACH mandate doesn’t get registered. There is a long list of reasons why the process stops being customer-friendly. Let’s look at some of them.
What stops eNACH Mandate registrations from being successful while setting up?
The process is long and complicated
Most customers prefer a short to the point process where they put in minimal effort for a certain result. If the eNACH Mandate registration has too many steps, it will give people enough reason to stop midway and result in an unsuccessful mandate setup.
eNAch Mandate Authentication may not be successful
Authentication is a critical step in the registration process. When details like bank accounts and OTP entered or approved by the customer don’t match, it gives them enough reason to leave the process unfinished.
Customers may not be informed enough
Everyone isn’t aware of what eNACH mandates are. For first time users, it is a new experience and they are apprehensive of what to do and how. If they aren’t convinced of the security or their own understanding of the process, they exit the process.
Banks don’t offer satisfactory support
Banks play an equal role in the success of mandate registration. When they don’t offer enough support, customers will distrust the process as the banks are their first point of trust when it comes to their finances.
Customers are interrupted by technical errors and downtime
When everything else is in order for eNACH mandate registration, technical and server issues can occur. While most of these are avoidable with pre-checks and quality control from the service provider, some are very difficult to predict.
People are data and privacy conscious
Many people are not comfortable sharing their personal and financial data with systems that they are familiar with. When introduced to new systems, they are careful and apprehensive until they are sure it is safe to use.
What’s the best approach to prevent unsuccessful eNACH Mandates due to registration failures?
1. Make the process simpler and smoother
Start by reducing the number of steps involved. Make sure there is clear, short, and concise information at every step. It should give the customer a clear idea of what they are expected to do. With an intuitive interface, this is far easier to achieve.
2. Choose your service provider wisely for better authentication
Choose a reputed eNACH Mandate Service provider who is equipped to ensure minimal authentication errors. Another sign of the right choice of service provider is their integration with UIDAI (Aadhaar), banks, and OTP systems. This will ensure a higher success authentication success rate.
3. Educate and inform customers about the eNACH mandate process
Include details of the official step-by-step process to register a mandate in your customer and marketing communication. Once more people know how it is done, they will adopt mandates faster. This can be enhanced by using explainer videos, chatbots for questions, and well-addressed FAQs.
4. Use multiple banks for multiple benefits
Expand your option for better service by working with multiple banks. Look at how each of the banks you choose are better equipped to handle the challenges of different mandate loads, demands, and kinds.
5. Use technology for better mandate success
Only the best technology can deliver the best results. By ensuring that your processes are rooted in top quality, it is easier to set high standards of low downtime and fast processing.
6. Strengthen Customer Trust with Industry-Recognized Security Standards
In order to start building trust, secure transactions must be ensured. The well-established security standards that should be adopted-build credibility for your mandate process due to the very adherence on which the protection of sensitive customer data is based. This breeds customer confidence and-in turn-completion rates for eNACH mandates.
7. Make customer service quick and accessible
Customers should have an easy way to reach out to support when the eMandate registration turns out to be unsuccessful. A quick resolution will give them the confidence to try again and ensure that it is successful. This can be done through assistance using a chat box, email, or phone.
How does Paycorp address these issues and solutions – all in a single platform?
Our goal is to ensure glitch-free mandate registration. Here’s why our eNACH Mandate service outdoes other options you may be considering.
Simple setup and execution: We believe that the best solutions are the simpler ones – especially when it comes to installation and usage.
A consistent, high success rate: We have been able to achieve a 99.9% success with our customers so far – who span across industries and eMandate requirements.
Top notch technology: We believe that a successful mandate registration platform is as good as the technology that drives it. Our systems, protocols and APIs are the best in the industry. 100% Compliance and Security: Staying with regulatory requirements is one of our prime focuses. Rest assured, you don’t have to worry about regulations with our platform.
Immediate notifications: With callback integration – a feature on our platform, you can instantly track and identify when your intervention is necessary for better mandate registration success.
These features and more ensure that every customer who registers an eNACH mandate does it successfully.
Discover them with a free demo.
