BillingTree® announced it has once again successfully passed the PCI-DSS audit, this year audited under the new PCI 3.0 standards. The new PCI-DSS is designed with an increased focus on operational standards, security and training to provide greater clarity, flexibility and ease of implementation for vendors. The latest announcement is a continuation of BillingTree’s commitment to remaining at the leading-edge of industry compliance.
BillingTree® today announced a suite of new solutions that allow auto finance companies to expand mobile payment options to consumers, and to manage and extend customer relationships beyond their initial purchase through digital marketing promotions and value-added customer service. BillingTree’s mobile payment and lifecycle management solution enables customers to view and pay their bills by scanning a QR code from their smart phone and instantly access their account information and payment options. Lifecycle communications features allow auto lenders to automatically identify and execute upsell, cross-sell and promotional marketing opportunities to online and mobile customers based on their buying behavior. Both solutions are supported by BillingTree’s partnership with ZNAP™, a mobile payment and business automation platform provider.
BillingTree on-demand payment processor announced David Roberts has been appointed its President and CEO while Scott McCollum will continue as BillingTree’s Chairman of the Board. Roberts will focus on the next stage of growth. Previously he was a Managing Director with Bank of America Merrill Lynch where he led the Equity Plan Services business and President and CEO of Equity Methods, a provider of software and services.
BillingTree on-demand payment processing grew 33% throughout 2010 while in January and February 2011 closed two consecutive record months. Throughout the year, BillingTree increased its staff headcount by 25% and has now established a 1,600 strong base of customers, along with the formation of 63 strategic alliances and its new ISO program, which has already led to considerable opportunities in new verticals. In 2010 BillingTree added key technology developments to its payments processing portfolio to drive its growth, including Pre-funded accounts, “PaynCash” and “Debit Cards Only.” In 2011 it has already added a new mobile payments suite, which includes billing and paying by text. With these developments and additions, the Company is forecasting at least 20% growth for 2011.
BillingTree on-demand payment processors has launched its “Check Collect” express check recovery tool to additional industries including Utility and Healthcare. The “Check Collect” solution enables companies to streamline the returned-check process by optimizing collection rates for Non-Sufficient Funds (NSF) items and centralizing management of outstanding balances. BillingTree’s express recovery process strategically manages returns, holding checks and re-presenting them on specific dates that are the most likely to yield a return. The “Check Collect” re-presents checks on specific dates such as the first or fifteenth of the month, rather than successive days, increasing the likelihood of funds being available as well as saving time and resources on wasteful resubmissions. Benefits of electronic payment solutions include an accelerated availability of consumer funds, reduced costs associated with manual-payment processing, improved cash management, and integrated processing by managing all payments, returns, and corrections through a single portal.
MoneyGram International has signed agreements with BillingTree on-demand payment processor, with which MoneyGram will provide same-day, cash payment services at MoneyGramâs approximately 35,000 agent locations nationwide under the brand name BillingTree “PaynCash.”BillingTree provides billing organizations payments acceptance through ACH and credit card via online, IVR/VRU, MOTO and more. The addition of MoneyGram’s walk-in, cash payment solution rounds out BillingTreeâs suite of payment services, giving consumers another option when it is necessary to pay in cash or to make a last-minute payment. These agreements allow BillingTree billers to collect cash payments through MoneyGramâs network of retail locations found in national grocery, pharmacy and convenience store chains.
On demand payment processor BillingTree has introduced its “Utility Suite”
of Bill Presentment and Payment solutions for companies in the energy
and utilities sector. Advantages to a single, centralized billing and collections system for
utility service providers includes improved customer service and
increased satisfaction, providing the consumer more options to pay bills
in a highly secure and swift format. In addition, the potential to
reduce paper invoicing enables utility providers to avoid passing rising
billing costs on to their customers. BillingTree anticipates utilities
save 60 to 90% off current paper, postage, handling and other
costs for each household opting into electronic statements with
recurring/automated payments. BillingTree supplies the integrated, multi-channel
electronic payment platform to a growing list of industries that also includes healthcare and subscription-billed services.