Q:

How do you open a bill payment center?

A:

Quick Answer

To open a bill payment center, choose the type of payments to accept, discuss the details of accepting payment with vendors, complete and return applications, acquire the relevant software and choose a business location. Advertising the payment center lets potential customers know the business exists.

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Full Answer

Begin by choosing the types of payment the business focuses on. These include phone payments and utility payments among others. Target specific vendors where customers are required to pay weekly or monthly.

Next, approach the vendors and work out the details of the requirements for accepting payment and commission. Inquire about other local businesses collecting payments for the vendors. Get familiar with the laws governing this type of business, especially where timely and accurate payment is concerned.

Request applications from each vendor. Fill out these applications before returning them to the vendors. Acquire the software needed to accept payment on behalf of the vendor, and get proper training. Choose a strategic location with high foot traffic for the business and purchase the necessary equipment before opening to the public.

Lastly, advertise the business on television, in online advertisements and through print publications to promote. Also, develop a website to reach customers who find your business through search engines.

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