The collaboration between REPAY and Quadient Accounts Receivable by YayPay is spearheading innovation in the realm of accounts receivable automation. Nicole Benitez from REPAY and Devon Lildhar from Quadient recently came together to discuss the emergent trends in this dynamic field.

In the age of technology and digitized processes, paper checks are gradually becoming a thing of the past. They were once one of the dominant payment methods, but today, roughly only 7% of consumers pay bills with paper checks. With the rise of electronic invoicing, mobile and digital payments, and online banking, consumers and businesses alike now have a wide range of options for making and receiving payments. 

From collection law firms to debt buyers to healthcare collection companies, collections agencies are always busy serving customers, inputting customer data, setting up payment plans and retrieving payments. Manually managing these processes is time-consuming and costs your agency more than just money. In today's digital age, integrated payments are a game-changer and crucial for the everyday functions of the collections industry. 

The healthcare industry faces strict regulatory controls when it comes to protecting practices and patients. Partnering with a payments processor who offers expertise in the industry and compliance can help alleviate the common problems experienced by healthcare providers when it comes to collecting and managing payments.

Timely payments from borrowers are vital to maintaining a healthy lending business. One way to increase payments is through an open and effective line of communication. No matter what type of loan you’re dealing with — car, personal or mortgage — lenders and borrowers should be able to easily communicate to ensure both sides remain in good financial standing. 

Payment processors are essential for any business that accepts customer payments or makes payments to their vendors. They are particularly beneficial to Processing ISOs and Retail ISOs who own merchant portfolios. Because payment processors come in all shapes and sizes, it can be challenging to decide what size processor will best support the ISO's goals.

When you open your wallet to make a payment on a loan or bill, have you ever considered why you reached for a particular payment method? Whether you are trying to earn travel miles on a credit card or are being mindful of your budget with debit cards, we all have different reasons for making our payment choices.

Most people dread tax season — a typically chaotic time of year when we scramble to get our documents organized in a timely and accurate manner. Some of us get them done early, while others wait until the last minute.

Payment fraud has been rising for years as fraud schemes become easier to execute. The increased reliance on digital platforms, processes and payments has given fraudsters more ways to commit crimes. Studies show that in 2023, businesses' cost of fraud could rise by $7 billion, bringing the total to $48 billion. With such staggering predictions, taking the necessary precautions to mitigate these attempts is essential.