Smart Prepayment & Pay As You Go
Generis now offers a comprehensive prepayment/PAYG system that fully supports and complements the advanced prepayment functionality in smart prepayment meters.
In keeping with the rest of the Gridstream architecture, the prepayment solution is a modular and open system that provides the flexibility to deploy just those features that are required to build a complete pay-as-you-go system and enable support of credit and prepayment functionality in a single system.
In the non-Smart world, prepayment metering is predominantly used for high credit risk customers or in properties where there is a high rate of tenancy changes. However, cost-to-serve for such customers is typically much higher than customers with credit metering for a number of reasons, including:
- Higher device costs compared to credit metering
- More frequent site visits required, e.g. to switch between credit and prepayment metering
- More calls to customer call centres to resolve queries and request assistance
- Enterprise payment infrastructure
A supplier must balance these additional costs against the benefits of reduced risk of debt and payments received prior to energy consumption.
Smart metering brings with it opportunities to manage a customer in both credit and prepayment modes using the same meter, switching between the two modes without the need for a site visit. Using devices such as the Landis+Gyr Smart Prepayment electricity and gas meters, coupled with the Landis+Gyr Focus PAYG software solution from Generis, enables a supplier and customer together to agree on the best way for payment of their energy needs.
In addition, the removal of the need for physical tokens to transfer payments to the meter means a customer is no longer restricted to using current cash-based infrastructures. Instead, a wide variety of payment channels, such as web-based payments, automated direct debits, ATMs and payment by SMS, are readily available for suppliers to offer to their customers.
This increased flexibility in payment options, plus the addition of the wealth of new information that is available to the customer through in-home display units and web portals, means that prepayment for energy becomes a more attractive proposition for a consumer - not just a way of managing debt. This Pay-As-You-Go model is likely to become widely accepted, akin to the revolution of the mobile phone market over recent years, and brings benefits to the consumer and supplier alike.
The good news is that these benefits are attainable now, currently using Landis+Gyr devices with other meters to follow, and software solutions from Generis that together enable this new way of interacting with consumers.
For more information, please contact us.