REPAY Blog (22)

Why You Need Compliance for Financial Institution Payment Processing

on May 6, 2020 | By Kristen Hoyman | PCI Compliance

Compliance in Financial Institution Payment Processing

The nature of all financial institutions, like a credit union, is to hold and secure sensitive information. For that very reason, companies that partner with electronic payments companies need to be highly regulated and meet the highest levels of compliance and security to keep your customer’s banking information safe and sound. At REPAY, we take security very seriously and comply with all applicable regulations.

Buyer's Guide for Merchants Explains Omni-Channel Integrated Payments

on May 5, 2020 | By Liz Anderson | Payment Technology

REPAY has published a free Merchant’s Guide to Integrated Payment Processing to outline how payment processing works and help businesses select the best payments provider for their needs. With COVID-19 and social distancing guidelines in place, businesses have to adapt and innovate quickly - some more than others. In order to help maintain cash flow during this time, integrated and omni-channel payment solutions are no longer a nice to have, and instead have become a must have solution.

Managing Delinquencies in Subprime Auto

on April 14, 2020 | By Kristen Hoyman | Lenders, Auto Lender Payment Processing, Payment Technology, ARM Collections Payment Processing

Delinquencies were increasing before the virus outbreak. What happens now? Even before the massive drop in economic activity due to COVID-19, there were signs of trouble brewing on the subprime loan side of the auto lending market. Now more than ever, it's important for subprime lenders to understand and effectively manage these delinquencies.

REPAY Outlines How Businesses are Innovating Due to COVID-19

on April 6, 2020 | By Liz Anderson | Payment Technology

Operating a business can be hard and the COVID-19 virus (also known as Coronavirus) has made things more challenging than ever with at least 311 million people in at least 41 states being urged to stay at home, and about 30 percent of American’s unable to work from home. The last few weeks have been a whirlwind for us all; changing how we are living, working and communicating around the globe.

Our world shifted quickly, according to PYMNTS reports, just a month ago, we were all in our offices, kids were in...

REPAY Announces Integration with Anytime Collect

on March 27, 2020 | By David Harper | Partners, ARM Collections Payment Processing

REPAY is excited to announce a partnership with Lockstep Collect, an industry leader in AR automation for organizations big and small. REPAY and Lockstep Collect have a shared mission of increasing efficiency through automation, seamless integrations, and end-to-end solutions for invoicing and payments.

Personal Loan Demand and COVID-19. What Now?

on March 24, 2020 | By Kristen Hoyman | Lenders, Payment Technology

Our appetite for borrowing only continues to grow, Coronavirus or not.

Debt levels are rising despite what has been eleven years of favorable economic performance. That was before the Coronavirus outbreak. Borrowing demand, however, is likely to remain strong, if not just a little delayed, despite the forced global slowdown.

Why Credit Unions Should License Payment Technology

on March 6, 2020 | By Kristen Hoyman | Payment Technology, Credit Union Payment Processing

Does your credit union use technology to make things easier for members?

Mambu, Salesforce, Microsoft Office 360, Google G Suite, and Leasewave

Payment Options for Millennial Borrowers

on February 26, 2020 | By Kristen Hoyman | Mobile Payments, Lenders, Payment Technology

At this point, millennial borrowers probably make up a large portion of your customer base, so it’s important to understand their spending habits and priorities. The American Institute for Certified Public Accountants (AICPA) conducted astudyof millennials and found 70% believed that financial stability was the ability to pay all their bills each month. So, according to millennials, stability means striving for zero payments due at the end of the month.

Tax Season is a Huge Payment Opportunity for Auto Dealers & BHPH

on February 26, 2020 | By Kristen Hoyman | ACH / EFT Processing, Debit Cards, Lenders, Auto Lender Payment Processing, Payment Technology

Take advantage of one of the few times of year you KNOW your customers have money for both down payments and loan payments.

The average tax refund last year was $2,869, according toMarketwatch.

4 Important Things to Look for in Healthcare Payment Processing

on February 19, 2020 | By Kristen Hoyman | Healthcare

Hospitals, dental offices, and everything in between put up with a lot of headaches. Medical professionals need to keep their focus on patient wellbeing. But how do you focus on patients when you have to set up recurring billing cycles, track down customer information, and all the other hassles that come with payment processing in healthcare?