For collection agencies, the ability to process electronic consumer payments is key to maximizing revenue recovery and competing effectively in today’s marketplace. Paper checks are relics of days long gone, post-dated checks are riddled with risk, and bank transfers make consumers nervous. In the modern digital age, card payments reign supreme.Knowing how to set up same-day, single-future and recurring preauthorized card payments is the hallmark of a successful collection agency and an outstanding consumer experience.In this webinar, Ontario System's Rozanne Andersen will walk you through:- Visa/Mastercard rules governing collection payments- The distinct roles merchants, payment facilitators (“PayFacs”), and processors play in the payment process
- The rules and regulations controlling convenience fees, surcharges, and service charges
Download the slide deck here.
Download a transcript of the webinar here.