Atlanta, GA, U.S.A. — (METERING.COM) — January 27, 2011 – Real time prepaid electric provider for utilities PayGo Electric and SmartSynch Inc. have entered into an agreement, under which PayGo’s software as a solution with customer CIS, payment processing, IVR, MDM, and notification suite, will be embedded in SmartSynch’s SmartMetering solution.
With PayGo’s system, participating utilities are able to offer prepaid electric solutions to customers without the costly rebuilding of existing billing and related systems. Although world markets have seen prepaid electric service comprise as much as 30 percent of the total customer base, U.S. adoption rates have been slow. Key drivers have been the high cost to retrofit existing billing systems, the need for accurate, real time data instead of estimates, and the limited numbers of smart meters that are accessible via two-way communications.
PayGo’s patent pending technology embeds logic in either the communications modules or the meters, which alerts both the customer and the utility company of the need to add credit to a customer’s account to enable continued electric service. The system includes a nationwide payment processing platform which enables utilities to use existing, as well as new payment methods for their customers. This new technology allows customers to be continuously informed of their account status and enables them to pay for their electricity on a schedule which best fits their needs.
With PayGo no trips are required outside of the home to purchase additional electricity. Customers can call the utility to recharge, reload their account directly with a cell phone or PDA, make online payments, recharge at various retail outlets, or utilize a number of additional payment methods. Because PayGo recalculates the remaining balance at the meter level every thirty seconds based on actual consumption and alerts customers as they reach predetermined levels, the solution is highly accurate.
“With more than 150 major North American utilities benefitting from SmartSynch’s two-way delivery of real time energy usage over cellular networks, PayGo will now extend its reach and benefits to millions of potential prepay customers," said PayGo Founder Ron Sewell. “This agreement also furthers our goal of embedding PayGo in each of the top five worldwide meter and communications provider solution sets.”
“Through this relationship with PayGo, the door is now wide open for utilities to offer prepaid electric solutions to any customer, at any time and location, with great ease,” added Stephen Johnston, SmartSynch’s chief executive officer. “This demonstrates the value for utilities to adopt high speed, cellular-based solutions for smart grid deployments, as there is no other economically feasible way to strategically deploy these types of applications on this scale.”