Superior Payment Services
To stay competitive in the digital age, insurers must accept payments electronically. Credit cards are the payment method of choice for the vast majority of consumers. They also conveniently manage recurring payments (such as monthly insurance premiums). Unfortunately, payment processing fees and funding delays can be expensive ... unless you work with the right company. As a longstanding partner of the insurance industry, Silvervine understands the insurance business and how to cost effectively manage premium payments. Say NO to nickel and diming. Get acquainted with Silvervine's one-stop payment services solution.
Enjoy Faster Funding
Have you ever stopped to calculate how much profit you lose to credit card processing fees? You might be surprised. On a $100 million book, $25 million of premium is typically paid by credit card. If you pay a 2% transaction fee on that $25 million, you're losing $500,000.
- Accept credit cards, debit cards, ACH, eChecks and recurring payments - all with one system
- Allow clients to make payments via their smartphones, in person and over the phone (IVR)
- Facilitate recurring payments with e-signature and live reporting
- Minimize recurring charge interruptions with daily credit card data account updates
- Enjoy one of the lowest transactions fees in the business - even for American Express
- Explore options to greatly reduce or eliminate processing fees
- Easily integrate our payment platform with your website and mobile apps
Enjoy Faster Funding
Up to 40% of your premium volume may come from recurring monthly ACH, American Express and credit card payments. If it takes two or three days to receive your funds, it can be hard to match payments with policies. Don't let your payment processor hold your money. With faster funding, you can improve cash flow and AR efficiency.
- Enjoy the fastest funding in the business - usually within 24 hours or less
- Eliminate American Express funding delays
- Receive real-time payment reports through our secure gateway
- If you use a Silvervine policy administration system, you can integrate your payments, minimizing AR labor requirements
Eliminate security hassles and costts by using our PCI DSS compliant technology. We take care of security, so you don't have to worry about it.
- Minimize the risk of data breach with industry-leading security practices such as data tokenization and storage in our secure customer vault
- Transact business quickly with 99.99% reliability
- No equipment, no setup fees and no long-term contracts
- Proactively resolve disputes and chargebacks