Payment Processing Approaches

This First Quartile Consulting Confidential Discussion Forum focused on customer payment options, including non-digital payment channels, electronic payment strategies, fraud prevention, and large C&I (Commercial & Industrial) customer payments. Participants shared insights into their utilities' approaches to cash and check payments, fee structures, and strategies to encourage digital payment adoption. Fraud prevention, particularly around digital payment scams and security risks, was a major topic. Lastly, the conversation explored challenges with large commercial customer payments and optimization efforts.

Key discussions included the shift toward retail cash payment options, various fee structures for absorbing or passing on costs to customers, and efforts to increase digital payment adoption through marketing campaigns and incentives. Fraud-related issues, including fake IVRs, QR code scams, and bot-driven fraudulent transactions, were highlighted, with some utilities implementing AI-based fraud detection tools to mitigate risk. There was also a focus on optimizing payment processes for large C&I customers, with interest in expanding portal options and automating payment reconciliation.