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Top Payment Collection Solutions for Financing Companies

Consumers look up to financing companies to jumpstart new projects. They look up to these companies to fulfill their dream of being a business owner. 

 

Paying Bank Finance Loans 

Let’s discuss a few tools that help financing companies collect payments from their customers.

  • Hosted Payment Portals: Use a hosted payment portal to set up a payment page that allows collections via eChecks and credit cards.
  • AI-Based IVR Technology: Use the Interactive Voice Response (IVR) payment systems to allow customers to make payments over the phone without needing additional agents.
  • Accounting Plugins: With reduced scope using a payment gateway, tap into accounting software applications like Quickbooks, where consumers can make payments through existing systems, but the transactions all flow into one virtual terminal.
  • SMS Invoicing: SMS Invoicing has become very popular for consumers to make payments because they get a text from a known source and can reply with the payment choice they set up previously on their account.
  • Recurring Payments: Recurring payments have become a go-to for numerous industries because they are easy. The lender sets up the payment with a contract, and the consumer doesn’t even have to remember making the payments monthly. 
  • Email Invoicing: Lenders can set up a schedule via email invoicing to send consumers a notification with a link to log in and make payment with ACH or credit card.
  • iFrame Technologies: iFrame and other plug-in opportunities are now available for business owners to manage their clients and get paid within the website, similar to the hosted payment portal. A payment gateway can integrate seamlessly with this technology so the lender can spend time ensuring meeting consumers’ loan needs.

 

Be a Super Hero in the Financing Industry

Finance companies help people get some extra cash in their accounts so that these people can fulfill their dreams. Make it easy for your customers to pay you back so they can meet their commitments, and your company can profit as planned on the interest. Download our Catalog to see various options for collecting financial loans seamlessly 

Posted originally on LinkedIn by Nikki Estes

 

Date Originally Published: November 4, 2021

Date Updated: August 1, 2022

By By ICG Digital

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