Spam calls and change in communication preferences from younger generations is making it harder than ever for debt collectors to get consumers on the phone. That’s why digital engagement through email, text and electronic methods of payment are now becoming mainstream in accounts receivable. Mike Frost, partner at Malone, Frost, Martin PLLC., has been watching the compliance landscape since Regulation …
Innovative Digital Workflows: One Company’s Creative Solution
Businesses now have so many software choices it can be overwhelming to decide what systems to use. Technology should make doing business easier and create a better digital workflow for both staff and customers. Some of your systems, like your customer database, gamification tools or training programs will never be seen by the public. But others like the tools that …
8 Digital Methods of Payment to Upgrade Customer Experience
There’s nothing more frustrating than customers failing to pay you on time for goods or services you’ve already provided. Fortunately, emerging technology options and methods of payment can shorten the average number of days it takes to collect a bill. Adopting omnichannel payment methods makes it easy for everyone to pay the way they prefer, from younger digital natives who …
Steps to CFPB Compliance Throughout a Period of Shifting Priorities
Implementing systems and workflows in line with Regulation F was a huge project for debt collectors. But recent remarks, social media posts, bulletins, blogs and CFPB press releases suggest that the focus on CFPB compliance isn’t over for AR professionals. Joann Needleman and Leslie Bender, Attorneys at Clark Hill Law, have monitored CFPB rules and actions for many years and …
What to Know About Expanding Your Business into First Party Collections
Many debt collection agencies are looking for business expansion opportunities to bring in more revenue. As a result, first party collection and extended business office (EBO) services are becoming more popular offerings.The Difference Between First Party and Third Party CollectionsFirst party collection means you are collecting late payments on behalf of your client under their branding – before accounts become …
PDCflow QR Codes: Faster, Simpler, More Successful Customer-Initiated Payments
Ogden, Utah – PDCflow announces the recent release of QR code payment portal links and Flow requests. To enhance the customer experience and encourage faster, easier payments, PDCflow now offers the ability to generate a QR code that instantly directs customers to your payment portal or a Flow request’s unique URL. Merchants can print a QR code on letters, estimates, …
What Every Merchant Needs to Know about MOTO Payments
Online businesses are more commonplace than ever. In fact, many companies now may never interact with customers face-to-face. Unfortunately, the convenience of digital transactions also makes MOTO payments (Mail order/Telephone order) a higher risk for businesses and consumers alike. Why are businesses that take MOTO credit card transactions putting themselves at higher risk? How can new technology make online payments …
Self-Serve Recurring Payments: PDCflow Announces the Release of Payer Created Schedules
Ogden, UT – Today, PDCflow announced the newly available self-service payment feature, Payer Created Schedules. Payer Created Schedules are a way for consumers to set up a recurring payment schedule in a self-serve environment, without the help of an agent. Self-serve recurring payments offer more options to customers who wish to resolve their bills without the help of an associate. …
Compliance Risk Assessment and Preparing for Digital Communication in AR
The long-awaited Regulation F recently outlined how the CFPB expects debt collection agencies to operate. The Bureau’s intentions with the regulation are to standardize debt collection, protect consumers and create a better customer experience. Now that Regulation F has finally been implemented, industry experts like Mike Frost, partner at Malone, Frost, Martin PLLC, are monitoring its impact and encouraging agencies …
Top Digital Communication Tools and Leading Channels for Taking Payments
Accounts receivable experts are still navigating the best ways to implement digital communication tools and optimize digital strategies. Agency owners want to use email, text, web chats, payment portals and other current technology. But many people don’t know which channels are the best for them and their consumers. As webinar panelists, Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, …
Can’t Miss Expert Takeaways to Create a Digital Communication Strategy
Regulation F, consumer preferences and better software options all point toward the same conclusion – having a digital communication strategy in debt collection should be the norm. However, change is hard. Many agencies are still hesitant to commit to digital strategies. In a recent Accountsrecovery.net webinar, experts Jill Kennady, Resurgent Capital Services, Jordan McWilliams, Contract Callers, Inc., and Cody Owens, …
PDCflow Partners with Debtmaster360 to Offer Fast, Secure, Digital Payment Workflows
PDCflow and Debtmaster360 have partnered to provide secure digital payment communication options to accounts receivable management companies. Now, users can send secure email and text payment requests and esignatures to consumers in minutes – all within the Debtmaster360 platform. “We are very excited to partner with PDCflow in offering Debtmaster360 customers a new, efficient, and modern way to capture more …
