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Payment Systems

A payment system is an automated set of processes (usually done with computers) for accepting cash-substitutes as money. Since the rise of credit and debit cards and the Internet, most businesses in the U.S. rely on some type of payment system. In addition to the traditional credit card processing services, payment systems can include electronic checks, EFT, mobile payments, and technologies specific to the Internet like digital wallets, e-cash and PayPal.


CFPB Files Lawsuit Against Payment Processor and Executives

On Monday, the Consumer Financial Protection Bureau (CFPB) announced a lawsuit against payment processor Intercept Corporation, accusing the company of enabling their clients to withdraw millions of dollars of funds fraudulently from consumer accounts. The lawsuit also names two top Intercept executives, Bryan Smith and Craig Dresser, for allegedly ignoring “clear signs of brazen fraud” by their clients.

LiveVox Discusses the Future of Consumer Contact Technology at iA’s 2016 Large Market Participant Summit

LiveVox Inc., a leading provider of cloud contact center solutions for enterprise operations, announced that LiveVox CEO, Louis Summe, has been invited to join a panel to discuss what macro trends will alter the financial services segment at this week’s Large Market Participant Summit presented by insideARM in Washington D.C. On the session, LiveVox Chief […]

Payment Processing

BillingTree unveils Payrazr Marketplace, “myPayrazr” Payment Gateway and IVR

PHOENIX, Ariz. – BillingTree® today announced the launch of the Payrazr Marketplace™, a comprehensive source for technology and payment solutions including the newly unveiled myPayrazr Gateway™, to facilitate processing of payments in real-time and myPayrazr IVR™, enabling customers to drive revenue with automated telephone payment acceptance. Both BillingTree-developed myPayrazr™ solutions will be showcased during Payments 2016 in Phoenix, AZ booth […]

Simplicity Collection Software Integrates with the New BillingTree Payrazr Solution Suite

PHOENIX, Ariz. – BillingTree® today announced that Simplicity Collection Software has become the latest ARM software provider to integrate with the Payrazr™ solution suite. Simplicity offers a cloud-based solution that provides clients with real-time access to the status of any of their collection accounts. Integration with BillingTree’s Payrazr gives Simplicity customers access to the ARM industry’s widest range […]


Credit Reporting, Overdraft Issues and the Remittance Rule Dominate the CFPB’s 2016 Winter Supervisory Highlights

This article originally appeared as an Alert on and is reprinted here with permission. The 10th edition of Consumer Financial Protection Bureau’s (CFPB or Bureau) Supervisory Highlights (the Report) continues on the themes of credit reporting and overdraft protection prevalent in recent CPFB statements (see February 3, 2016 CFPB Press Release and Compliance Bulletin 2016-01). While debt collection, mortgage and […]

PDCflow Announces Free e-SignatureFlow Service for Payment Authorizations

Matthew Snedden, COO of PDCflow, an industry leader in payment processing technologies, announced today their innovative e-SignatureFlow service is free in conjunction with PaymentFlow Services. PDCflow’s e-signature solution has been an industry disrupter, helping agencies stay compliant with Regulation E and NACHA regulations and reducing chargebacks. The ultimate goal of offering e-SignatureFlow free is to […]

Confusion After Clarity: The CFPB’s November Bulletin on Consumer Authorizations for Preauthorized Electronic Fund Transfers

Bulletins from the CFPB often function as rule-making, even though bulletins aren’t technically the way the CFPB conducts rule-making. Both bulletins and consent orders, though, should be viewed by all in the industry as the “writing on the wall,” so to speak. They show the agency’s current line of thinking, and give those companies in the debt industry a map of compliance.

Executive Changes: BillingTree 2015 Success Sparks Exec Team Advancements to Parlay Growth into 2016

Phoenix, Ariz. – BillingTree®, a leading payment solutions provider, experienced strong growth during its first full year of operations under CEO Edz Sturans. The company continued its expansion as a developer of software and technology plus merchant services provider within key industries including ARM, Personal Finance and Healthcare collections. Total payment processing volume exceeded $2 billion for […]

Laurie Nelson Named an Ultimate Attorney by the Jacksonville Business Journal

JACKSONVILLE, Fla. – Laurie Nelson, Autoscribe Corporation’s General Counsel and Chief Compliance Officer, has been named to the Jacksonville Business Journal’s inaugural class of ultimate attorneys. Laurie has also been recently awarded in the Stevie Awards for Women in Business and the Best in Biz awards. Autoscribe Corporation has more than two decades of innovation and […]