By: Elisa Logan, Vice President Marketing
Who wouldn’t want money for nothing? It’s a widely shared dream, especially for the 90+ million people who play the lottery annually! Dire Straits nailed it with their hit, “Money for Nothing” – rock stars did seem to have it made, getting a lot of money for very little work.
According to singer-songwriter Mark Knopfler, he was standing in an appliance store where all the TVs were tuned to a newish station called MTV. A nearby workman started commenting on the extravagant lifestyles of rock stars. According to Knopfler, he captured those lines, including, “That ain’t workin’ that’s the way you do it. Money for nothin’ and chicks for free.”
Here we are in 2018 and MTV doesn’t play much music any more. But the dream of money for nothing is a hard one to shake. And even though it usually sounds too good to be true, sometimes it really is possible to achieve.
Money for Nothing
VPay’s total claim payment solution delivers efficiencies that not only save you money, it also incorporates transactions that make you money. The VPay platform delivers choice to your payees – the ability to choose the payment type they want whether it’s ACH, virtual card or check.
VPay helps you provide a better experience for policyholders and payees. And when those payees choose virtual cards – and a record number do with VPay – you receive a revenue share on each virtual card transaction. How do we do it? By leveraging our vast data preferencing database and our patented technology to deliver a total solution that helps you cut costs and realize revenue on payments you make.
In fact, our largest clients save over $1,000,000 annually by using VPay. (Read a case study.)
Checks for Free
Insurers know that the claim payment checks they send out are a business necessity, but issuing checks is both expensive and time consuming.
With VPay’s total payment solution, you get checks for free. That’s right – free! You immediately eliminate printing and mailing costs, along with associated banking fees like positive-pay, stop pay and escheatment. Plus, VPay’s patented technology delivers the EOB and payment together, making reconciliation easier for everyone. You get all that, plus our real time reporting, award-winning call center and decades of experience as part of our payment solution. That’s the way you do it.
Isn’t it time for you to get money for nothing and checks for free? (And you don’t even have to learn the guitar or sing.)