These are the questions that MEMO agents and prospective agents most frequently ask their sales representative about selling walk-in bill payments.
How will this affect my money order sales?
Some retailers experience an increase in money order transaction volume after adding MEMO Bill Payments.
Since retailer commissions are higher for MEMO Bill Payments, they generally offset any potential MEMO money order revenue decrease.
Do I need any special communications services before MEMO Bill Payment equipment is installed?
The MEMO Bill Payment system is designed to utilize a broadband connection for maximum speed and efficiency; however, a regular phone line may be used.
How long does it take for a bill payment to be posted to a customer's account?
Generally, payments are posted to a customer’s account in 1-3 business days; however, some biller agreements with the MEMO Bill Payment system allows for immediate payment posting to customer accounts.
How much time does a transaction take?
MEMO Bill Payment transaction times generally average less than a minute.
Can I accept checks for services?
Cash is the accepted form of payment; however, some billers may authorize a MEMO Bill Payment agent to accept checks on their behalf.
What kind of equipment is necessary to become a MEMO Bill Payment agent?
Generally, only a personal computer and receipt printer are necessary to accept MEMO Bill Payments.
What if my customer has a problem with a bill that was paid at my store?
If your customer has a problem concerning a bill that was presented for payment at your retail location, just refer them to the MEMO Bill Payment customer service department for prompt resolution.
Is there a fee for becoming a MEMO Bill Payments Agent?
No, however, a monthly equipment rental and supplies fee may apply depending on your projected MEMO Bill Payment volume.
How does this service work?
Customers present their bills at the retail service counter, where account information and dollar amount paid are returned into the MEMO Bill Payments system. A receipt is automatically generated for each bill payment transaction and provided to the customer for their records. MEMO Bill Payments immediately processes each transaction to ensure prompt payment posting for all bills presented.
Is there a flat fee for me and my customer or does it depend on the bill being paid?
Retail fees for bills are generally a flat fee, but may vary depending on the agreement MEMO Bill Payments has with Individual billers.
How can I get started with offering this service in my store?
Call the MEMO sales department at 1-800-922-8079 to get the process started. A sales representative will contact you promptly to obtain the required information and paperwork.
Once approved as an agent, MEMO Bill Payments will be installed at your retail location at the earliest opportunity.