Omni Pay: Innovation and Optimization for Recurring Payments

Created 14 Mar 24
By integrating credit card and PIX, Omni Pay digitizes recurring service payments, offering a more convenient and effective alternative than the traditional bank slip.

Bemobi, a leader in recurring payment solutions in Brazil, currently serves 7 out of the country's top 10 subscription service companies, including giants in the telecommunications, energy distribution, and education sectors. The potential payment volume (TPV) of these initial clients represents approximately 200 billion R$ per year in sectors generating over 500 billion R$ in recurring services solely in Brazil.

Traditionally, within the realm of recurring payments for essential services such as energy, telecommunications, education, and health, the bank slip has been the main payment method in Brazil. Given its low level of digitization and access to banking services, this approach has played a key role in managing essential service payments, reaching a large portion of the population, whether banked or not.

However, in recent years, Brazil has experienced two major transformations that have significantly altered the payment landscape:

  • The first, driven by Fintech and neobanks over the last 5 years, not only accelerated banking, reaching nearly 90% of the economically active population, but also popularized credit cards, which are currently used by more than 73% of these users.
  • The second transformation came with the creation of PIX by the Central Bank, which quickly gained acceptance due to its innovation and standardization. PIX is an instant, free money transfer system available 24/7, further boosting financial inclusion and payment digitization in Brazil.

Over the past 5 years, Bemobi has specialized in recurring payments, initially supporting mobile operators with digital plans based on credit card billing. This focus and expertise enabled Bemobi to develop technological platforms that optimize recurring payment collection.

Thanks to the high acceptance of credit cards and the success of PIX, Bemobi has expanded its operation to digitize recurring payment processes in other service industries such as energy, education, and health, in addition to telecommunications.

Omni Pay: Optimizing and Simplifying Recurring Payments

With the launch of Omni Pay, Bemobi combines recurring payments via credit card with transparent integration with PIX in a single platform. The benefits for collecting companies are clear; they reduce delinquency rates and increase customer loyalty. All of this, with higher payment conversion rates and simplified collection processes at competitive costs. For the end consumer, the solution offers greater convenience and ease in paying their bills.

In addition to integrating recurring payments with credit cards and PIX, Omni Pay introduces a number of innovations for the recurring services sector, eliminating the need to contract and integrate multiple solutions from independent providers. These innovations include:

Omnichannel collections, segmented according to each customer's profile

  • The platform allows for personalized collections in an omnichannel model, covering both physical (SmartPOS) and online environments (Mobile applications, web, chatbots, payment links and IVRs), adapting to the specific needs of each customer.

Smart retries and advanced tokenization

  • We have developed our own model of smart retries, adjusted to the features of each brand and card issuer. In addition to a new model of card tokenization with brands like VISA, MasterCard and Elo, allowing for automatic card updates in case of expiration or replacement due to loss or theft and simplifying the user experience. Both innovations have a direct impact on increasing conversion and convenience for the end consumer.

Flexible installment payment model

  • This allows for the offering of installment payment options, helping to reduce delinquency, decrease working capital dependency, and provide benefits to both companies and end consumers, who enjoy greater flexibility in their payments.

Integrated antifraud solution

  • Optimized specifically for the services sector. This solution significantly increases transaction acceptance levels, reinforcing the security and reliability of the payment process without impacting conversion.

Integration and Innovation: Maximizing Benefits with Omni Pay + PIX

The effective integration of credit cards and PIX, along with the other functionalities of Omni Pay, will result in a 10 to 15 percentage point increase in recurring collection efficiency compared to the traditional models currently used in the market.

In the past year, Omni Pay has been implemented in some of Brazil's largest recurring service companies, and moving forward it will become Bemobi's standard payment platform for all new partners.

In addition to the launch of Omni Pay, Bemobi already plans to incorporate future PIX evolutions, such as automatic and guaranteed payments, aiming for an even more efficient and convenient payment and collection model for the consumer.

As other countries adopt solutions similar to PIX for instant payments, Bemobi plans to incorporate these new methods into the Omni Pay solution, targeting international markets. This expansion aims to export the benefits of Brazilian PIX innovation to all of Latin America.

If you want more information about our Omni Pay solution, you can complete the following form, and we will contact you shortly.