To account for changes in technology, cyber security, and legal policies, compliance in the collections space is constantly evolving. Collection agencies, like many businesses, rely on a network of technology vendors and systems providers to manage their operations.
Interchange fees make up the largest portion of a merchant's payment processing costs. Unfortunately, it is often not clear what these fees are and how they are charged.
In order for Collection and Accounts Receivable Management (ARM) companies to survive, and prosper, in today’s busy world, they need to become automated — NOW.
Effective April 2022, card brands (Visa, Mastercard, Discover, and American Express) are implementing a series of updates/changes which will affect pricing in certain categories and regions.
Turn on the TV. Open a newspaper. Fire up the Internet. Everywhere we look these days we see, or hear, stories focusing on “Choice,” and “Freedom of Choice.” These themes seem to dominate the news cycle, and our personal lives - and have even spread into our work lives.
Fire up your favorite search engine and enter “Payment Processing Company.” Google will often return “About 1,000,000,000 results” — in less than one second! No kidding; just try it. The options can be overwhelming. So, how do you find the right payment processing company for your business?
Let’s face it. You have customers that always seem “unresponsive,” regardless of how many times you reach out. Many collection agencies believe the only way to increase customer responsiveness is to increase the number of agent-customer interactions. That is simply false.