Eliminate the headaches of “7-in-7” by collecting and tracking all of your data in ONE PLACE.

August 10, 2021

Consumers and Compliance: Things Are About to Change

CFPB. FDCPA. ARM. ROI. DBA. The list of acronyms in the collection industry is endless. And while not officially an acronym, we have a new catchphrase to decipher — “7-in-7.”

To address upccoming changes required by “Reg F,” Payscout and Divinity Software have formed a new strategic partnership to provide true value-added benefits to our clients in the Accounts Receivable Management (ARM) industry — and to ensure our clients maintain compliance with all new regulations.

How does the Payscout / Divinity partnership benefit you?
  • We provide fully integrated processing to any ARM or RCM management platform, regardless of whether it is designed to be closed to outside providers or is fully accessible. Our connection provides a seamless interface for your users without requiring a lengthy implementation cycle.
  • By leveraging our proprietary API, all consumer data is accessed in real time over secure channels. This powerful architecture eliminates the need for batch transfers, and our solutions operate without mirroring or copying your consumer data anywhere outside your corporate infrastructure. It is a true hybrid cloud solution, with your consumers using a cloud-based web application while the data remains securely on-premise, avoiding any future repercussions created by the 11th Circuit decision in the Huntstein case.
  • Through our 360˚ Fee-Free Payments solution, the only convenience fee program that is fully compliant with FDCPA, State Laws AND Card Brand rules, we can reduce your merchant processing costs by 70% or more, depending on the locations of the consumers in your portfolio.
  • We provide secure and compliant solutions that integrate payment processing directly into your existing CRM. Our solution provides tremendous savings on compliance costs through our Level 1 Certification. All payments taken directly by associates, or through the website, are fully covered and comply with all regulations, eliminating the annual cost associated with the complicated process of PCI certification.
  • Our recurring payment plan solution provides capabilities for consumer or associate initiated transactions. The platform can manage plans, including automatically generating reminder notices that can reauthorize the convenience fee, if needed, trigger payment, and return the authorized plan information to your CRM in real-time. The automated responses and guidance towards consumer self-management provided by this solution lead to time savings, staff savings, and vendor cost reduction for the ARM service provider.
  • Omnichannel communications that comply with Reg F rules, including opt-in and opt-out tracking, relevant e-signature authorization capture, document upload and download capabilities for electronic account validation, email, and text notification.
If you are ready to increase your agent channels with IVR, text, and more, we are ready to provide a solution that meets your needs — and exceeds your expectations!
Contact us today at 888.689.6088 or click here.

Payscout and Divinity are committed to developing the most innovative, cost-effective payment and compliance solutions in the ARM industry.

The world of Payments is constantly evolving. We'll keep you up to speed!

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