Being able to collect and process payments from customers is a key function of any business, regardless of its size or type. With the number of options available for payment processing expanding on a regular basis, it could not be more important for company owners to understand the different methods available for them to choose from. The question “what is merchant processing?” is often asked by those who are new to setting up their own business. The answer is relatively simple.

For companies and collection agencies, keeping track of the amounts owed can end up giving you a headache. Chasing amounts owed in terms of fees, payments, and rents are time-consuming and stressful, so you may be wondering, “What is ACH Collection, and is it a valid solution for my company?”

People are inundated with responsibilities. Many people fall behind on their bills simply because they are too busy or cannot keep track of all their expenses. This hurts them and creates a damaging impact on the businesses providing services to them.

When it comes to hiring employees at a collection agency, a recent ACA International survey showed that collection agencies are looking for several specific characteristics and skills in potential candidates.

If you are just starting as a collection agency, then you realize that you have a number of methods to collect payments. One of those methods is payments through Automated Clearing House (ACH) payments. ACH is a government-regulated electronic network through which financial institutions can transmit funds between each other. The process is similar to taking payments through credit cards, except that senders and receivers use bank routing codes instead of 16-digit credit card numbers.

REPAY offers a variety of merchant services that agencies can use to collect payments from their clients. Two of them are the ability to accept credit cards and Automated Clearing House (ACH) payment processing. But what are the advantages of these, what are the differences and under which payment scenarios should you use them? We will talk about that in this article.

Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) have become a popular and effective way for consumers to manager healthcare expenses. As a healthcare collection firm, you want to be able to accept FSA and HSA cards. This capability provides flexible options for the patient and increases collection activity for providers and their agencies.