Debt collection is a large and growing business in the United States. More than 9,000 debt collection agencies in the country employ nearly 125,000 workers.
In a time when technology is advancing fast, and people are becoming busier, it is crucial that debt collection agencies remain competitive. If they use out-of-date collection methods, they are going to risk losing customers to other providers.
Ontario Systems recognized the importance of updating their technology and meeting customers’ needs, which is why they signed on with BillingTree’s Payrazr payments suite in 2015. The company, which provides payment collection software and serves the accounts receivable management (ARM) business, uses the Payrazr platform for several reasons:
Payrazr is easy to use
In the past, customers had to send in a paper check or call up an ARM firm to make a payment. Now, they can log onto Payrazr’s platform from their desktop or mobile devices and pay a bill 24 hours a day, seven days a week. Payrazr comes with options like payment plan setup and recurring payments, so customers will never miss a billing cycle again. The platform accepts various forms of payment including eChecks, ACH payments, and cards, giving consumers the freedom to choose how they pay.
Customers can pay by phone or online
Young adults and Millennials may want to use the online portal, but older consumers are going to want to pay by phone. Fortunately, Payrazr provides both options. Customers can call anytime and utilize Interactive Voice Response (IVR) to make payments from their keypads, or call during regular business hours to receive agent-assisted help.
Transactions are secure
Consumers want to know that when they are using their cards, eChecks, and ACH payments online that companies are protecting their sensitive information. Payrazr is SSAE-16, HIPAA and PCI compliant, which means that all transactions are fully secure.
Signing on with Payrazr
Ontario Systems saw that they needed to find an integrated system that was going to improve their payment collection software as well as the bottom line of their ARM customers. Thanks to Payrazr, they have been able to stay competitive in their field, serve their clients, and enhance their success.