Savvy Site of the Week – Collection License State Laws

Collection License State Laws, Collection Agency Compliance, Payment Processor, High-Risk Merchant Account


      Is your agency compliant when it comes to collection license state laws? It’s an important question to ask yourself – especially when it comes time to obtain a  payment processor experienced in the industry. Most acquiring banks will want to ensure you are appropriately licensed in the states your agency is conducting business in. As each state has different requirements, it can be cumbersome to ensure you are following the rules where required.

      insideARM Collection License State Laws Map

      One of our favorite sites to share with our clients to review collection license state laws is insideARM. This nifty tool breaks down licensing, bond, and fee requirements for all 50 states plus Puerto Rico. It details any exemptions and lists the appropriate state government contacts to obtain further information. The interactive map also is a great visual to spot check states where needed. You will need to be a registered site user to view the page, but signing up is free and straightforward. But sure to check it out to confirm your agency’s collection license state law compliance! It’s a tremendous all-in-done tool to add to your browser bookmarks.

      The Payment Savvy Difference

      At Payment Savvy, we aim to be Your Payment Partner.  With over 30 years of combined experience, we are well-versed with collection agency needs and aim to provide innovative merchant solutions. We take the time to get to know our clients and create a custom solution to meet their current business needs and future goals. All of our solutions are scalable and affordable. Looking for a new IVR, pay by text, or web and recurring payment platform? Give our Savvy Squad a ring today. We are always available to answer any questions you may have or provide a fast and free quote for payment services.

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      Jason Rabago

      Jason Rabago

      With close to two decades of experience in sales and operations, Jason never hesitates to go above and beyond to meet our client’s expectations. He is our payment solution guru and attentively listens to a prospect’s current concerns to create a custom product offering guaranteed to check every want and need off the list. Reducing risk and increasing revenue is the name of Jason’s game and he loves providing solutions that substantially affect a company’s bottom line. Looking for an insight as to how your company can operate in a more streamlined manner? Reach out to Jason either at one his regularly attended conferences or give him a ring to discuss how Payment Savvy can elevate your business’ potential.