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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.

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Latest Ontario Systems Whitepaper Examines Issues Around Self-Pay Revenue

According to Healthcare Finance News, more than half of provider bills don’t get paid. And for every dollar billed to patients, providers have historically failed to collect 65 cents. Providers are experts at managing insurance reimbursement, but collecting self-pay dollars is a different story. With the average annual deductible for covered workers increasing 255% since 2006 and projected […]

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The 3 Big Factors That Make Patient Self-Pay a Headache for Providers

According to Healthcare Finance News, more than half of provider bills don’t get paid. And for every dollar billed to patients, providers have historically failed to collect 65 cents. Providers are experts at managing insurance reimbursement, but collecting self-pay dollars is a different story. With the average annual deductible for covered workers increasing 255% since […]

Debt Buyer PRA Group Acquires Payment Portal eGov Systems

NORFOLK, Va., — PRA Group, Inc.  (PRAA), announced that it has acquired eGov Systems, a provider of web-based payment portals and integrated revenue administration solutions for the government sector. The transaction will allow PRA’s government business to develop and maintain scalable online payment portals, as well as enhance its ability to expand its services and […]

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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 […]

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 […]

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

This article originally appeared as an Alert on ClarkHill.com 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 […]