ACH Draft and Credit Card Payment Options

Challenge:

Businesses set up payment schedules trusting that payments will be made on time each month.

Solution: PaymentBanc's Payment Drafting

Many businesses realize a real delinquency rate of 5-8 percent or even higher when consideration is given to the number of payments that are not paid on time. When a business sets up a payment plan and issues coupon books or sends monthly statements, control over when the payment is made is in the hands of the responsible party.

Many people send in their payment on-time each month, but others choose to wait until it is convenient or delay payment until the next scheduled visit. If these outstanding accounts are being managed, considerable time is being expended making contact with each responsible party. If they are unmanaged, the risk is high that these accounts may become uncollectible.

Using PaymentBanc’s payment drafting and the presentation skills we teach, a business schedules payments to be automatically debited from the responsible party’s account each month. This means that the business is in control of payment frequency. It is no longer necessary to wait until the responsible party determines it is convenient to make the payment. There is no more waiting until all the other bills have been paid. The end result is a business that is in control of the payment process with very little delinquency and improved cash flow.

While implementing auto drafting into your business is an important step, the obstacles mentioned above often keep offices from making the option available to their customers. PaymentBanc has the solution.

PaymentBanc can draft monthly payments from checking accounts, savings accounts, credit cards, or flex spending accounts.
PaymentBanc has a relationship with Visa, MasterCard, Discover, and American Express. Due to our high transaction volume, our credit card discount rates are very competitive.
PaymentBanc’s employees are experienced in handling credit card transactions. We have a team devoted to payment processing. Our systems are designed to ensure speed and accuracy, saving you both time and money.
PaymentBanc also handles all contact regarding payments. We know immediately when a transaction fails and our courteous staff makes contact with the individual to reschedule the payment. Our system tracks expiration dates and lost or stolen credit cards to handle most issues without any delay. In other words, we do the work for you.

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