Upfront deposits are a source of friction between consumers and utility companies and can be a barrier to establishing service quickly and easily. Moreover, helping consumers stay current and connected is also a major challenge for utility providers.
Due to COVID-19, some areas have temporarily restricted late fees and collecting from past-due customers; many utilities have also voluntarily suspended customer disconnections for nonpayment. But as areas begin to open up, there’s a risk that many consumers will not be able to pay their current bills or catch up on unpaid bills.
In this Helping Consumers Through COVID-19 webinar on Tuesday, July 14 at 1 p.m. (ET), Rachael Olson from TransUnion and Dave Elve from PayGo will look at strategies to reduce required upfront deposits, ways to identify customers that are struggling and solutions to help them get back on track. We will also cover how prepay programs can help customers reengage in regular payment behavior, reduce consumption and address arrearages.
Registration is also currently open for the July 23 webinar on using smart speakers during COVID-19 and the July 28 webinar on time-of-use rate education.