TransUnion to Offer Online Payment Processing to its Collections Customers

TransUnion announced a partnership to offer CheckVelocity's payment processing capability through its online collections platform. The announcement was made at the 11th Annual National Collections and Credit Risk Show in Boca Raton, Fla.

"Based on discussions we had with our clients, we found that many were interested in accepting online payments, but didn't have the internal resources or relationships with third-party organizations to make it work," said Kevin Derbyshire, director business consulting for TransUnion. "By integrating CheckVelocity's technology into our platform, we can offer a more comprehensive online collections solution and provide our client's debtors with more efficient payment options."

Third-party agencies interested in offering CheckVelocity's online payment processing capabilities will contract directly with the company. TransUnion will host the individual collections Web sites consumers will access to pay their outstanding debt. CheckVelocity will support online check and credit card payment options through its payment processing system, PayNow, and will verify debtors' checking account information through its VerifyNow solution.

"We are pleased to round out TransUnion's online collections capability with a seamless payment processing offering," said Steven D. Jennings, Regional Sales Director of CheckVelocity. "By working with TransUnion, collections organizations now can save time, reduce transaction fees and easily manage their accounts receivable through one Web site."