Posts by Lauren Vanegas
Why Payment Authorization is Important for Collection Agencies?
An authorized payment is a credit card, debit card, or ACH payment received by a merchant with express authority of the card or bank account holder. Obtaining debtor payment authorization plays an essential role in the electronic payment process. If you are a high-risk merchant, such as a debt collection agency, make sure all proper…
Read MoreSelecting the Right High-Risk Merchant Provider for your Business
Accepting credit cards is a necessary form of payment for nearly every business, high-risk industries included. All companies need to partner with a merchant service provider in order to have card payments processed on their behalf. Finding effective payment solutions for the high-risk merchant can be challenging given all the processors in the arena. Want…
Read MoreAccepting HSA and FSA Cards for Medical Facilities and Billing Agencies
Modern-day healthcare programs allow patients to pay for their medical bills through Health Savings Accounts and Flexible Spending Accounts, abbreviated as HSA and FSA, respectively. Even debt collection agencies can process HSA and FSA cards if the past due receivable is medical in nature. Even though there are many benefits to HSA and FSA card…
Read MoreNACHA Security Rules for Merchants – Is Your Business Compliant?
The National Automated Clearinghouse Association (NACHA) issues out operating rules yearly for businesses that accept ACH payments. This body governs all aspects of ACH payments and offers regulations on how to store, access, and share client data. Knowing this, is your business compliant with NACHA security rules? You need to familiarize yourself with NACHA security…
Read MoreRaising the Processing Limit on a High-Risk Payment Account 🙌
Stable high-risk payment accounts are hard to establish. For businesses in high-risk industries, approval for a merchant account with a monthly processing volume that suits your needs can be even harder to pin down. All businesses have the intention of growing and increasing revenue. As such, there will come a time when you will have…
Read More4 Simple Methods for an Effective Collection Agency Payment Strategy
Running a collection agency is tedious. Just the industry regulations alone are enough to make one bonkers. It’s important to make processes as efficient as possible where possible so you can concentrate on the important matters that make your agency successful. One area you shouldn’t be worried about day and night is an effective collection…
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