Service Industry Incentive Programs
MasterCard's Services Industries Incentive Programs (SIIP) is a recurring payments program available to Cable, Telecom, Insurance, and Utility industry merchants. This will provide you with significantly lower interchange rates and will allow your customers to set up payments and know that it will be paid each month.
Recurring Payments Benefits
- Full payments received on time
- Building loyalty by giving customers new payment options
- Increase funding time
- Reduce collections and insufficient fund checks
Program Requirements
If you are a Cable, Telecom, Insurance or Utility company and are interested in this program, what else do you need to do?
MasterCard requires the following for participation:
- Statement inserts advertising MasterCard recurring payments as a payment option
- Promote recurring payments by MasterCard on the front page of your statement within first four months of starting the program
- At least one on hold message for 60 days advertising MasterCard recurring payments as a payment option
Where do you get these inserts or on hold messaging? No need to worry, Silver Stream Marketing can provide these to you at a discounted rate since they are providing the same services to other merchants just like you. If you would like to get started saving on your processing fees and give your customers another payment option contact BankCard Central today!
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