HAGERSTOWN, Md.—Credit card processor Revolution Payments has made text payments available for its gateway customers in the U.S.
The text-to-pay solution supports credit cards and ACH payments. This is in part due to the rising popularity of businesses seeking alternative payments during the COVID-19 pandemic, Pymnts.com said.
With text messages seeing a 98% open rate, companies will get paid faster and more frequently, the news outlet added.
As a plus to customers accepting credit cards from businesses or government, Revolution said, all B2B and B2G transactions are instantly reclassified to Level II and Level III interchange rates, including text-to-pay. Level III processing can reduce the interchange cost of accepting commercial cards by as much as 40%, Pymnts.com noted.
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