MD-based PaymentVision has teamed with VA-based Shaw Systems to enable the Shaw Systems clients to securely process any form of payment.
The partnership will enable the Shaw Systems to process payments for credit card, debit card, or ACH – in one-time, recurring, and fee-based transactions through online, mobile, agent-assisted portal, automated phone system, or directly within the Shaw application.
Shaw’s integrated solutions leverage existing applications to provide automation and flexibility while lowering costs. Their clients work smarter across all portfolios and manage customer-centric relationships and decisions. North America’s top financial institutions, including a vast number of auto finance leaders, use Shaw products and services. Some of Shaw’s client base includes banks, captive finance companies, credit unions, and specialty lenders.
Highlights of PaymentVision payment processing include:
Hosted Tokenization enables finance companies to collect payments from within the Shaw Collections system without exposing long-term or short-term memory to card or bank account data.
Integrated Card Authorization enables agents to send card authorization requests from within the Shaw Collections system and receive a response while the customer is present or on the phone.
Bank Account Verification enables agents to verify that a bank account is open and in good standing prior to enrolling it in a payment arrangement.
Retail Externalization File Interface enables self-service account inquires and payments via the web and Interactive Voice Response (IVR).
Periodic Payments File Interface automatically loads payment activity into the Shaw Collections system every 15 minutes to flag accounts, update net payoff balances, and remove accounts from the dialer.
Monetary Posting File Interface automatically posts payments and returns to the Shaw Retail system.
Open Payment Gateway enables finance companies to bring their own bank or merchant account provider many times resulting in no hold, no reserve next day funding.
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