SPI Software Enhances SPI Connect Portfolio Offering Text Payment Functionality

Facilitates Collection of Loan Payments, Maintenance Fees, Club Dues by Text

Kingsway (NYSE:NYSE:KFS)

MIAMI, FLORIDA, USA, November 30, 2023 /EINPresswire.com/ -- SPI Software, a leading provider of payment processing solutions, has announced the enhancement of its SPI Connect portfolio of products to offer text payment functionality. This will help clients collect loan payments, maintenance fees, and club dues more efficiently and effectively. SPI Connect represents a suite of a web-based services, including a payment processing platform that offers a wide range of features, now including the ability to process online payments from text.

The new text functionality includes the following features:

Automated text reminders: SPI Connect can automatically send text reminders to customers about upcoming payments. This helps to reduce late payments and improve cash flow.

Secure text payments: Customers can securely make payments using text messaging. This is a convenient and easy way for customers to pay, while reducing the risk of fraud.

Text payment notifications: SPI Connect can send text notifications to customers after their payments have been processed. This helps to improve customer satisfaction and reduce the number of support calls.

“The enhanced text functionality in SPI Connect is a valuable tool for businesses seeking to improve their payment collection process. By providing text payment service solutions to their customers, timeshare resorts and clubs can expect to see a reduction in late payments, an improvement in cash flow, plus an increase in customer satisfaction,” said Gordon McClendon, Chief Executive Officer, SPI Software.

Compelling Evidence of the Positive Impact of Text Payment Functionality on Financials. A recent study by the Pew Research Center found that 53% of Americans use text messaging as their primary form of communication. This means that text messaging is the preferred way to reach customers and collect payments.

The Customer Contact Council learned that businesses offering a text payment process see a 20% reduction in late payments, which can lead to a significant improvement in cash flow. Additionally, a study by J.D. Power revealed that businesses providing text payment solutions see a 10% increase in customer satisfaction, primarily because customers appreciate the convenience and ease of text payments.

“SPI Software is committed to innovative leadership evidenced by our ongoing commitment to delivering products and services that allow our clients to thrive. The evidence is overwhelming that text payment functionality can have a positive impact on employee productivity and the financials of our clients," added McClendon.

About SPI Software
SPI Software is a leading provider of innovative software solutions for the vacation ownership industry and its related businesses. With a proven track record of delivering cutting-edge solutions, SPI Software empowers organizations to streamline operations, enhance efficiency, and drive growth. Committed to customer success, SPI Software continues to revolutionize the industry with its comprehensive range of software solutions. SPI Software is a subsidiary of Kingsway (NYSE: KFS)

Marge Lennon
Lennon Communications
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