Do We Know the Real Number?

August 23, 2022

According to the Consumer Financial Protection Bureau (CFPB), nearly $90 billion in medical debt appeared on consumer credit reports in 2021. Considering that not all medical debts in collections are provided to consumer reporting agencies, the actual figure is likely much higher - especially given today's challenging economic environment.

If you offer first party billing services as an EBO or BPO to your collection clients to assist them with their early receivables prior to assignment for collection, our new First Party Biller Program is the ideal payment acceptance option to attach to those services.

  • Enhanced Service Offering – Include payment acceptance in your package pricing to reduce the impact on client staff and systems, and reduce potential vulnerabilities during data transfer.
  • Maintain Control of the Process, Vendor, and Systems – You can use your existing integration to Payscout in most cases, eliminating the need for agents to learn your clients’ systems.  In addition, your company is the Merchant of Record, so you manage the process and no longer need to wait on Direct Payment reports to do your posting.
  • Deposit Directly to Clients’ Bank Accounts – Since your clients consider first party accounts as current receivables, they want the deposits immediately to maintain cash flow, rather than waiting for your remittance.  The First Party Biller Platform allows you to deposit directly to them without violating banking rules designed to prevent money laundering schemes.
  • Reduce Internal Administrative Costs (for you and your clients) – Minimize the scope of your clients’ regular compliance audits due to direct deposit of funds into their bank accounts.
  • Full Underwriting of Your Clients is Not Required – Since your company is the Merchant of Record, we only need to collect some basic ownership information from your client and have them sign a simple form that allows you to deposit the proceeds of the payment transactions directly to their bank account.
  • No Expensive Set-Up or Monthly Charges – Some low, regular monthly fees will be assessed for each additional client added to the program, but merchant fees will be based on your current volume, and, if you add enough additional transaction volume through your clients, you could qualify for a lower rate category for all your payments!

To request more information on our First Party Biller Program, please click here!

Let’s get your payment processing on the right track.

Get Started

Let’s get your payment processing on the right track.

Get Started

Let’s get your payment processing on the right track.

Get Started