Loan payments don’t have to be complicated. Smoother payments increase satisfaction, on-time payments and staff productivity.

We’ve all had a clunky loan payment experience. A text or email linking to a message center. A voicemail with no next steps. A login page that asks you to select images with bicycles, then enter an 8-digit code, only to go to a page that isn't the payment page. Or a reminder with no link at all. 

When paying a loan feels confusing or difficult, borrowers hesitate. They put it off, miss a due date or call the contact center. Staff are left to handle questions and tasks that could have been self-serve.

Lenders and borrowers are right to wonder, “Why does it have to be so hard?” The answer: It doesn’t have to be.
 

A seemingly low-tech solution with high-tech power behind it

MessagePay from Fiserv is an SMS text-based reminder and payment solution. It lets borrowers authorize payments instantly through secure, conversational text threads. They can pay anytime, anywhere, with real-time posting and seamless account updates. 

It’s a simple solution with real-world results. Del-One Federal Credit Union, for example, went from 61 payments in its first month to over 4,000 payments and over $2 million processed monthly. 

“More borrowers use this system to self-serve each month,” said Amy Draper, Director of Enterprise Solutions, Del-One Federal Credit Union. “It has been a real time saver for everyone.” 

With more than 200 financial institutions already using MessagePay, Fiserv recently expanded integration to additional core banking platforms. The expansion gives 2,500 banks and credit unions the ability to offer the service to customers and members.

Implementation is streamlined and requires no extra work on the part of the financial institution. For example, automated file creation and transmission, API setup and ongoing support are handled by Fiserv according to your technical specs.

Turning the reminder into a payment channel

With MessagePay, a personalized text arrives with a clear next step. Borrowers can either tap a secure, institution-branded link or reply in the same thread and authorize with a PIN.

The text-to-pay use case works particularly well for banks and credit unions that service loans across multiple channels. It’s an immediately usable improvement that doesn’t require borrowers to change habits or learn a new tool.

Each message is unique to the individual borrower, and can be tailored by loan type and timing for auto, mortgage, HELOC and other loan payments. Branding is fully customizable, so the experience feels familiar at every step.

MessagePay integrates with the Fiserv environment and posts payments to the core in real time. When the borrower sees a successful payment receipt, the institution sees the payment too. That real-time posting helps eliminate inbound calls and reduces back-office tasks tied to reconciling or manually posting transactions.

How customization supports a unique use case

A car buyer shops at a dealership, signs a stack of paperwork and drives off happy. Weeks later, a payment reminder arrives, but our happy driver doesn’t recognize the name. The loan may have been originated through a dealer channel or serviced by a different entity. 

How would the borrower know that? Their first reaction isn’t, “I’d better pay this.” It’s more likely, “Who the heck is this?” 

MessagePay can close the gap with a fully customized, branded message from the financial institution. An introductory text can reference the vehicle type, the dealer name and the financial institution’s role, so the message’s legitimacy comes across and the next step feels safe.
 

A lighter load for your borrowers and for your team

A better payment experience increases borrower satisfaction, repeat business and referrals. But it’s also a big win for the back office, with fewer inbound calls, reduced late payments and smoother processing. 

Turning payment reminders into payments. It’s a simple solution where everyone wins.