Borrowers have changed. Has your payment strategy?
In today’s lending landscape, borrowers expect payment experiences that are fast, intuitive and mobile-friendly. But many lenders are still relying on legacy systems, like paper checks, ACH-only setups and phone-only support that create delays, frustrate customers and fuel delinquencies.
It’s time to rethink payments as more than just a back-office function. In our new whitepaper, REPAY explores how digital-first payment solutions are helping lenders reduce roll rates, increase on-time payments and deliver the kind of borrower experience that builds long-term loyalty.
Here’s a preview of what’s inside:
Legacy payment methods can quietly eat away at loan performance and operational efficiency. Manual tracking, failed ACH returns and long processing windows all contribute to:
According to recent data, the average delinquency rate on personal loans is 3.56%, but for borrowers with subprime credit scores, that number jumps to 16.62%.
That means any improvement in payment timing—especially for non-prime borrowers—directly impacts collections outcomes and cost-to-collect.
One of the most impactful shifts lenders can make? Offering realtime debit card payments alongside traditional ACH.
Unlike ACH transfers, debit transactions are authorized and posted instantly. There’s no wait for settlement and no risk of return due to insufficient funds. That alone can lead to:
Your borrowers live in a digital world. They expect to manage their finances with the same ease they order dinner or check in for a flight. That means flexibility is non-negotiable.
Our platform gives lenders the ability to accept payments through:
52% of borrowers now prefer debit over ACH, and even older generations are moving toward digital self-service.
Upgrading your digital payment solutions for lenders doesn’t mean rewriting your tech stack. Our config-over-code approach allows for:
Whether you’re handling personal loans, auto lending or installment financing, REPAY makes it easy to modernize payments without introducing complexity.
We know compliance isn’t optional. It’s foundational. REPAY is built to help you meet evolving regulatory demands and protect sensitive financial data with:
Our latest resource breaks down everything you need to know about transforming your payment strategy, from borrower behavior trends to implementation best practices.
When you download the full whitepaper, you’ll learn how top lenders are:
Modern borrowers expect more. And with the right payment strategy, lenders can deliver while protecting revenue, reducing risk and scaling with ease.
Download the whitepaper today!