Tricom Introduces Electronic Payment Options

Tricom Introduces Electronic Payment Options

While Tricom has always accepted electronic payments in the form of wires or electronic payments from your customer’s financial institutions, we are pleased to announce a new, do-it-yourself online payment option. By partnering with Western Union, Tricom now offers an online payment solution where your customers can enter payment information, click a button and the payment is made! Or, your Tricom PMT representative can take the payment information over the phone and make the payment for them.

With so many banking and bill payment transactions being conducted online, it was a natural progression to offer a do-it-yourself electronic payment option for customer invoice payments. Tricom’s electronic payment option allows clients the ability to offer their customers a faster, secure form of payment for invoices without costly wire fees or mail delays. 

How it works:

  1. Your customers can access an online site, either from their desktop computer or mobile device, to make electronic payments via Western Union, or they can call your Tricom PMT representative directly to make a payment over the phone.
  2. The funds are debited directly from your customer’s bank account.
  3. As soon as a payment is made, a receipt is automatically emailed to your customer for their records.
  4. Funds are received and posted at Tricom the following day.

The fee for making payments via this electronic method is $5 per transaction. Tricom also has the ability to verify payments on the day they are made. We’re also working on a button to include on your electronic customer invoices that allows your customers to click and pay right from the invoice.

What Does This Mean For Your Customers?
Tricom’s electronic payment option allows your customers to avoid costly wire transfer fees (typically $10 - $15 per transfer). They also avoid the cost of printing and mailing checks, as well as any hassles involved with lost checks, stop payment fees (which can be $30 or more per check), and reissuing new checks. The electronic option is fast and secure, so they can have peace of mind that their payments are received as soon as they’re sent.

What Does This Mean For Tricom Clients?
If your customer uses the electronic payment option, you don’t have to worry about payments being delayed or lost in the mail (and the subsequent increases to your receivables timeframe). Payments are received more quickly, which means your receivable timeframe may actually be shortened. Plus, electronic payments allow you to offer your customers more options to make their payments – and hopefully in the process making their lives a little easier.

For more information about electronic payments options, as well as the link to forward to your customers, please contact your Tricom PMT representative, or the PMT Department at or 800-348-4815. We know it’s your goal to be problem-solvers for your customers, and we’re excited to offer yet another way to help you do so.