Money Transmitter Online
Automated Payment Collection (Direct Deposit)

Many organizations rely on the collection of payments from a large population of customers and currently process these payments through automated merchant account billing, checking account autopay, online merchant accounts, payments by mail and payment in person.  

 

Our solution works differently.  We are able to route direct deposit payments into a single depository account.  The funds are aggregated and then an aggregated payment is delivered according to a negotiated schedule along with an accounting report that can be imported into all accounting systems.

 

What are the advantages of our system?  With our system, payments are made before they are deposited into the individual's account.  This means that the collection of the payment occurs before the individual can spend the money.  Secondly, we can collect the payment at a cost that is significantly less than the cost of a merchant account.  In fact, you will save 90% or more for most payments.  And since the system is fully automated, there is no labor involved in the collection of the payment either.  This payment method is more efficient and cost-effective than any other payment.

 

What type of organizations can benefit from this technology?

 

  • Courts - For the collection of fines and restitution

  • Department of Family Services - Child Support and Alimony Payments

  • Utilities - Collection of payments for services

  • Insurance Companies - Collection of insurance premiums

  • Creditors - Collection of loan payments (Mortgages, Auto, Student Loans)

  • Hospitals - Collection of payments for negotiated medical bill repayment

  • Charities - Collection of monthly recurring donations (No employer withholding)

  • Churches - Collection of recurring tithing payments

 

For more information on how you can streamline your collection process and reduce your payment collection expenses, give us a call.