back Back

Recordent brings Payment reminder feature on WhatsApp for MSMEs

By Gloria Mathias

November 22, 2023

  • Credit Platform
  • e-mail
  • fintech India
Share

Recordent, Fintech News, India News, Payments Reminder notification, Wjatsapp Payments, Credit Platform, Fintech India, SMEs, MSMEs, Recordent, India’s credit and payment reporting platform, has announced the enhancement of its payment reminder notifications feature through the globally used messaging platform WhatsApp as an additional medium apart from the existing ones like E-Mail, SMS, and IVR.

For SMEs, timely payments are crucial to maintaining operational balance. Any delay in payments can disrupt their cash flow, impacting day-to-day operations, inventory management, and growth opportunities. This disruption often extends to their ability to pay vendors or employees promptly, affecting overall business stability.

Hence, implementing a reliable and efficient payment reminder system like WhatsApp becomes indispensable. It ensures that SMEs can maintain a steady cash flow by promptly reminding clients of pending payments, thereby sustaining their operations smoothly.

The integration of WhatsApp for payment reminders brings multiple advantages for business operations and efficiency. Through personalised messages, individual client needs are met, ensuring prompt payments. This new feature of notifications via WhatsApp expedites reminders, ensuring timely notifications are read within minutes, thereby significantly reducing delays and enhancing overall system efficiency.

Complementing the WhatsApp payment reminder service, Recordent has recently introduced Collection notices from Recordent Credit Registry, a non-banking payment reporting platform. These collection notices are aimed at creating a sense of urgency and accountability by accounting for the communication trail and ensuring accessibility to payment history. This feature is designed to expedite the resolution of default payments without negatively impacting the buyer-seller relationship.

Winny Patro, CEO and Co-founder of Recordent, shared, “We understand the critical role of timely payments for our sellers and the pivotal function of effective communication in achieving this objective. Our integration of WhatsApp as a convenient and cost-effective solution for payment reminders, alongside the newly added Collection notices from Recordent’s Credit Registry, underscores our commitment to offering comprehensive solutions that adapt to our client’s evolving needs. Our dedication remains steadfast in providing our clients with cutting-edge solutions and services for their financial success.”

Previous Article

November 22, 2023

D360 Bank unveils waitlist for new digital banking experiences

Read More
Next Article

November 22, 2023

Fils launches in the Middle East to promote global ESG integration

Read More








IBSi Daily News Analysis

Fraud

February 23, 2024

Credit Platform

Regulated firms battle surge in financial crime attempts, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Ebury and Nium team to offer cross-border payments in Brazil

Read More

Today

FinTech Focus: Catch latest developments of the week

Read More

Today

Vencora acquires CREALOGIX to expand its banking technology services

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023