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Chatbots are growing in all shapes and sizes and it`s time to embrace the chatbot revolution.

Chatbots are the revolution that enterprises have been waiting for, as they mean 24/7 help that can level up their business efforts.

As you probably know, chatbots are more than just customer help, as they are a small piece of software that can give you the information you need in a split of a second.

Chatbots come in various shapes and sizes, and if they have NLP and AI within them, they can be a powerful tool that can drive your business further. In fact, you can just think of them as your valuable employee.

Even though they started as customer support, they have a much bigger role now, as they take over payments and can help in other sectors, as well.

Let`s take a look at 3 reasons why chatbots can help streamline payments:

1. Continue Where You Left Off

When shopping online as a consumer, you probably know how payments can be a problem. People don`t like to open profiles and add all kinds of personal information just to make a purchase. And, in some cases, they are being transferred to a third-party site to make a payment.

If you are like me, I shut down the website when they transfer me to a third-party payment site and I don`t have time to open a new profile each time I want to purchase something. Thankfully, chatbots can take your order and your payments, all on the original page.

Even though they will help you while you shop, and suggest items based on your profile and shopping habits, chatbots will guide you through the payment process and confirm the payment without leaving the website.

In fact, companies that are using chatbots for payments have reported a 35% increase in revenues.

2. Pay Me Now; Pay Me Secure

When we talk about streamlining payments, it is not related to retail only. Chatbots can be used to send payments nowadays, as well. Chatbots will guide you through the payment process, and by selecting a few options from the menu, you will finish the process quickly.

This makes it an easy option for people who are sending money on a regular basis. A chatbot can give you the option of what currency you want to send and send you a notification via email that you have sent funds to someone.

To do this in a traditional way, you would need to go to the bank and fill out a bunch of papers just to send money to someone, as a chatbot simplifies that process and makes payments easier.

3. P2P Payments

P2P payments were a long discussion and this industry discussed a lot to reorganize the payment process and the implementing of chatbots. In this case, a chatbot can take your order in a restaurant and confirm the payment. Another case is where chatbots can be used in a restaurant to split the bill, for example, and you can pay for your dinner on the spot just by activating your chatbot.

Final Thoughts with ChattyPeople

Chatbots are not new anymore, as they are being updated each day with new functions and options. There is no business these days that doesn’t need a chatbot and there is no person that hasn’t interacted with one.

Chatbots in the payment industry are something that is still growing and something that we are still getting used to. However, keep in mind how a chatbot simplifies the process of payments, and I`m sure they will become a big success.

For more information on making your own chatbot for your business, register today, here at ChattyPeople, and get started on our free starter plan.


Posted by Maya S.