3 Things About Payment Processing Services You Are Likely Missing

  • Email
  • Print
  • Printing Articles

    1. Click here to print!
    2. ...or print directly from your browser by choosing File > Print... from the menu or by pressing [Ctrl + P]. Our printer-friendly stylesheet will make sure extraneous website stuff isn't printed.
    3. You're done!

    Close this message.

  • Comments
  • RSS

Not all Payment Processing Services are the same

Most companies shop for payment processing services based on the cost per transaction, but for collection agencies, this method is flawed. Not all payment processing services are the same and comparing based on price is an apples to oranges comparison.

There are three key reasons you should change the way you compare payment processing services.

  • The quality of the service is much more important than the price. Online payment processing comes with security and compliance risks that are paramount. You, not the issuing bank or payment processing service, are increasingly liable for unauthorized transactions and unauthenticated purchases and things like REG E compliance.
  • An efficient system that is easy for both the consumer and you to use. Consumers need a system that is easy to understand, fully integrated on all platforms and a fast transaction over a minimum number of screens. The collection agency requires convenient access to information, appropriate compliance-related emails sent, and the ability to track customer activity seamlessly.
  • A system that can meet the unique compliance needs of the collection industry. The debt collection industry is tasked with a host of compliance regulations and hurdles, so you need to align yourself with a company that makes it easy, as well as complaint.

Shop for Payment Processing Services based on ROI

Shopping for payment processors based on the ROI rather than the per transaction cost is recommended. PDC flow offers top quality, efficient processing, while meeting the compliance needs of the collection industry is at the forefront of what they do. A PDCflow processing package includes an integrated pay site, integrated REG E solutions, and document transfer services in addition to the payment processing services. Click HERE for more info or to request a demo.

  • Email
  • Print
  • Printing Articles

    1. Click here to print!
    2. ...or print directly from your browser by choosing File > Print... from the menu or by pressing [Ctrl + P]. Our printer-friendly stylesheet will make sure extraneous website stuff isn't printed.
    3. You're done!

    Close this message.

  • Comments
  • RSS

Posted in Revenue Resource .

×
Subscribe to our email newsletters

Continuing the Discussion

We welcome and encourage readers to comment and engage in substantive exchanges over topics on insideARM.com. Users must always follow our Terms of Use. Also know that your comment will be deleted if you: use profanity, engage in any kind of hate speech, post an incoherent or irrelevant thought, make a point of targeting anyone, or do anything else we find unsavory. Your comment will be posted under your current Display Name, shown below. If you'd like to change your Display Name, you must update it on the My Profile page.

Leave a Reply