Although the card brands have recently revised their requirements around signature authorization, signatures are still the best defense in the event of a chargeback dispute as long as you’re properly processing your payments. Additionally, there are numerous instances when businesses require non-payment signatures from customers. These include terms and conditions, disclosures, disclaimers, liability waivers, privacy agreements, HIPAA agreements, warranties, etc. In the medical industry alone, this can amount to dozens of forms related to billing, on-boarding, consent, prescriptions, lab reports and care agreements that must be physically stored or scanned and stored online.
Paper management takes a lot of time and is susceptible to human error and damage. Although paper was the standard for hundreds of years, electronic signatures are now preferred due to their heightened security, audit trail and better authentication. This makes electronic signatures more enforceable in court. Prior ESIGN and UETA rulings paved the way for this new technology to be permissible and preferable for businesses across the insurance, financial, real estate, health care, government and legal industries, among others. Aside from laws in certain places that exempt its use in wills and testaments, electronic signatures are legal for nearly all electronic documents.
Using its Smart Terminal that already collects electronic signatures for payments, PayJunction recently enabled the capturing of non-payment signatures as well. This new feature benefits software integrators and end users.
Why an Integrated Electronic Agent Is Preferable for Software Vendors
“Electronic agents” are defined as computer programs that are used independently to initiate an action or respond to electronic records without review or action by an individual. Typically, when businesses request this service from their software providers, the only solution is a third-party device. The large number of software providers and vendors that help enable operational efficiency make using electronic agents cumbersome for both integrators and end users.
With PayJunction, integrators can implement a fast solution for both payment processing and non-payment signature needs through a single API. It’s important to note that this functionality is not built in by PayJunction. The integrator must enable the functionality to provide generic forms or upload custom terms, conditions, waivers, etc. on behalf of users. The character limit for these forms is capped at 10,000 and includes the standard ASCII set.
With fewer vendors to work with and greater functionality, integrators can offer digital, non-payment signatures and boost their software’s value. This service is free of charge.
Why an Integrated Electronic Agent Is Preferable for End Users
As a business owner, admin or office manager, your team’s efficiency and profitability are critically important. Streamlining your devices, reducing your liability and protecting important documents long term are all your prerogative.
If you use practice management software, you may already have integrated payment processing. If not, you’re contending with multiple software services to streamline your day-to-day operations. This isn’t ideal. Likewise, if you already have a credit card terminal and want to digitize your documents, you’re likely to need a third-party device to run alongside your terminal. That’s a lot of clutter in your front office or checkout counter.
In contrast, with one device that supports processing payments and capturing payment-related signatures and non-payment terms, you can streamline the process of obtaining this information and checking out customers both for your staff and your valued clients. If you could do more for your business with fewer services and fees, why wouldn’t you?
PayJunction customers who use integrated software can now request that their software vendor implement non-payment signatures for custom or generic forms. If you use any of our integrated software programs, you can try out PayJunction’s payment processing alongside your current provider and request this feature as well.
Because PayJunction has the capability to store all transactions and signatures in the cloud, this companion feature helps businesses further digitize and store their sensitive and important documents long term.
Speak with an integration specialist. Call us at 800-601-0230 x 5594.
Do you have questions about how capturing electronic signatures during check-in or checkout could help your business? Want to learn more about implementing this feature as a software vendor? Ask away in the comment section below.