How Loan Companies Can Automate Payment Reminders

Late payments are expensive. SMS reminders have a 98% open rate — far higher than email. Set up automated payment reminders and watch your on-time payments increase.

Setting Up Your Reminder System

1. Import Your Borrowers

Go to Contacts → Import and upload a CSV with custom fields for payment data:

2. Create a Contact Group

Create a static group called "Active Borrowers" and assign your imported contacts to it (you can select a group during import).

3. Set Up Global Variables

In Organisation Settings → Custom Settings, add shared values like:

• company_name = Your Microfinance Co.
• phone_line = 0242 123 456

4. Create a Recurring Campaign

Go to Recurring Campaigns → New Recurring Campaign:

1. Name it "Weekly Payment Reminder"
2. Select your approved Sender ID
3. Select the "Active Borrowers" group
4. Write your message using variables:
   Hi {first_name}, reminder: your payment of ${loan_amount} is due on {due_date}. Account: {account_number}. Pay via EcoCash to avoid late fees. {company_name}
5. Set frequency to Weekly and choose the day and time
6. Click Create

Results You Can Expect