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A Guide to Understanding Payments Across Different Verticals

The payment industry is rapidly changing with the introduction of new payment methods and advanced technology.  With consumers needs and expectations drastically changing, businesses need to reevaluate their payment strategies to stay ahead of the competition.  With our consulting roots and expertise, XUP partners with businesses to capitalize on payments in the following industries.

  • Financial Services
  • Healthcare
  • Insurance
  • Logistics
  • Hospitality

Financial Services:

Did you know that 92% of business banking clients use a secondary bank, or third-party for merchant processing?  As a result, banks miss out on significant revenue and referral opportunities.

Our platform spans from small and mid-size businesses to commercial banking.  We offer onboarding, servicing, and analytics products so you can deliver merchants the tools they need.

Healthcare:

Up to 60% of a patient’s financial responsibility goes uncollected, and if it does get paid 70% is paid by paper check or a direct merchant account.  Both costs providers millions of dollars every year.

XUP can help you create a provider enrollment network and implement a more optimal payment model.  Our software and methodology can rapidly transform the patient collection experience, allowing you to focus on patient health.

Insurance: 

Nearly 80% of insurance payments are sent via paper checks causing a 14-to-21-day turnaround to receive and process payments, not including returned or bad checks.

We enable carriers to select digital payment options, automatically provisioning them in modalities such as ACH, vCards and even virtual checks.  We are well versed in the premium, claim, and adjudication process and can help you profit more of the payment than ever before.

Logistics:

Logistics organizations were heroes during the 2020 global pandemic responsible for delivering goods and services to stores and homes.  Unfortunately, the industry is rooted deep in an analog environment for payments, only accepting cash and checks.

XUP has demonstrated how digital payments can improve profitability for companies operating under razor thin margins.  In return, concepts such as three-way match and digital payments allows logistics firms to invest in other strategic priorities and stand out among competition.

Hospitality:

Major hotel brands, property management companies, amusement parks, restaurants and entertainment venues are all seeing the same thing – cash down, credit up, meaning the cost is now shifting to processing fees versus handling cash.

XUP partners with the Hospitality industry to embrace transformation.  Our platform and methodology pieces together the ecosystem to meet a company’s objectives, annual budgets, and risk tolerance.

XUP brings a unique problem-solving solution to your specific industry’s needs.  Our experience working with industry leaders across all verticals offers significant advantages.  Contact us today to learn more at www.xuppay.com.

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