bankingciooutlook

Progressive Payment Solution to Help Utility Companies Eliminate Downgrade Charges

By Banking CIO Outlook | Monday, July 22, 2019

Updated payment solutions are an emerging need of the utility market to save a massive amount of money.  

FREMONT, CA: A proven provider of integrated omnichannel payment solutions, Qualpay integrates with Energy Engine LLC and Destwin, the two leaders in the propane, fuel, oil and energy sector. The collaboration facilitates the elimination of downgrades for their customers by providing cost-saving benefits. Qualpay also has additional features that serve utility companies' individual needs, including its comprehensive portal that manages payments, payment histories, and other transactions, tracking and overseeing in-process transactions.

In the energy industry, it is common to experience downgrades due to a unique way of running a business. Traditional payment processing systems are built to function with generic business types. As the industry evolved over the years, the technology operating with existing payment solutions became outdated. This inhibits the gateway from passing the necessary data between platforms, adding downgrade fees to the transaction, and costing energy marketers thousands of dollars every month.

Hence, utility companies require a payment partner that understands their industrial requirements and their unique cash flow needs. Qualpay, bridging this significant gap that requires immediate correction, builds updated technology directly into its platform to address the issue. In addition to qualifying for special rates, Qualpay has built-in cash flow management tools to help utility companies work on growing their business instead of managing receivables. With Qualpay, utilities can reduce operating costs, and improve the business growth from the first truck to multiple branches.

Qualpay is a fully-integrated payments platform that utilizes the most advanced technology to reduce costs and streamline back-office operations. Its comprehensive system addresses and remediates the payment challenges businesses face, ensuring a stronger, robust infrastructure that allows them to focus on growing their business. Qualpay's reporting intelligence and data analytics helps to quickly and efficiently manage payment operations, saving both time and money.

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