The Online Payment Trend

adobestock_60726565In the past, payments were made with checks and sent through the mail to reach their destinations. This old method is slow and costs additional money to pay for the stamp and envelope. Luckily, more and more businesses are accepting online payments, and HOAs are no different. Check out the benefits of paying HOA association dues online.

The Shift to Online

The shift to online payments it quickly growing, and thanks to smartphones and mobile payments, it’s even easier. In 2010, annual mobile transactions totaled 52.9 billion dollars. That number is steadily growing, and the expected online transaction total for 2017 is expected to reach 721.4 billion dollars. Why are so many people paying online instead of the old way? It’s because of the many benefits online payments offer.

Security

People still worry that their information will be stolen if they pay online, but that just isn’t the case, especially if they stick with merchants they know, such as their own trusted HOA website. In fact, in most cases, online purchases with debit or credit cards are even more secure than paying with a debit or credit card in the store. That’s because online retailers have special tools, such as encryption, while stores often run on old systems that lack advanced protection. Plus, it’s a lot easier for a criminal to rummage through the trash or the mail to find a check or a bill with personal information than it is for them to hack a computer.

Ease and Speed

Paying online is so simple and fast. In most cases, individuals simply enter their information one time. After that, the e-payments can often be made with just one click. Plus, many banks make it even easier to pay bills online. Instead of going to each website, the bank lets you pay the bill through them, making it even faster. HOA residents used to have to write out a check for their dues and then mail it. Of course, if they were running late, the mail might not make it on time, forcing them to deliver it by hand. Now, they can simply push a few buttons and the payment is sent in seconds.

Saves Green

Going paperless saves green in two ways. First, it saves money on both ends. The payer doesn’t have to buy stamps or extra envelopes, and the payee doesn’t have to waste money printing out paper bills. Second, since less paper is being printed, going paperless helps save natural resources.

Paying online is the wave of the future, and HOAs are jumping on the bandwagon. Thanks to the security, ease, speed and the way it saves green, everyone is discovering the benefits of going paperless.

If you are an AssociationVoice customer you can add online payments to your site options at any time by contacting our payment services partners here.

 

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