As household debt levels surge, debt collection agencies grapple with the critical task of accessing efficient payment processing solutions. iPay Digital recognizes the intricacies facing debt consolidators, including volatile client bases and the heightened risk of fraud for merchant accounts.
At iPay Digital, we're committed to furnishing collection agency solutions that swiftly, efficiently, and securely address these challenges. Whether your business operates online or in a retail space, our services cater to your debt and card processing needs.
Implementing streamlined, cost-effective payment processing technology for debt recovery payments has never been easier. Our solutions empower your collector team to accept a range of payments, including eCheck, ACH, and debit card payments, be it for one-time transactions or recurring payments. iPay Digital ensures seamless integration with your existing accounting software.
We collaborate with businesses across various debt collection-related industries, including:
If your specific industry isn't listed, our representatives are ready to explore the suitability of our debt collection merchant accounts for your unique needs.
For debt collection agencies seeking affordable and efficient payment acceptance methods, iPay Digital offers merchant tools featuring:
Embarking on your journey with iPay Digital is swift and straightforward. Our Sign up process requires no credit checks or a credit card number, ensuring a hassle-free commencement.
Selecting the best method for a debt collection business depends on factors such as transaction costs, timing considerations, and debtors' willingness to provide bank account information. While ACH transactions might offer lower costs and easier recurring payments, eChecks provide flexibility for one-time or recurring payments.
To apply for a debt collection credit card processing account, you typically need to provide:
High-risk retail or online merchants may require additional documentation to comply with specific risk management procedures.
iPay Digital, specializing in high-risk industries, provides streamlined credit card processing services, ensuring efficient functionality for collections agencies.
Debt collection agencies can accept payments through various methods, including credit card and debit card payments, ACH payments, online payment portals, traditional checks, mail-in or in-person payments, payment apps, payment plans, and payments through interactive voice response (IVR) systems.
For collection agencies, iPay Digital offers:
While various payment methods are available for debt collection merchants, ACH or eChecks are often recommended for their security, flexibility, and streamlined processes, allowing for both one-time and recurring payments with reasonable transaction fees. Reach out to iPay Digital to explore the range of collection agency merchant accounts and services available.
Start accepting payments today.