Nerd Wallet

AUGUST 16, 2021

In the world of payment processing and merchant services, credit card processing most often comes to mind. According to a study conducted by the Cash Product Office of the Federal Reserve System, however, debit cards are the most used form of payment — accounting for 28% of all payments. Randa Kriss writes for NerdWallet.

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Fico Collections

AUGUST 16, 2021

There are also FICO Score versions available that utilize alternative data, based on Fair Credit Reporting Act (FCRA) compliant sources such as landline, mobile and cable payments; these scores can help address populations that were previously unable to be scored due to their sparse traditional CRA credit data. This is down from 19.6%

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Fico Collections

AUGUST 16, 2021

However, the percentage of accounts missing payments reflected the fact that not everyone has been able to accrue savings during the last 18 months. Spend on UK cards continued to increase, along with the percentage of payments. . . Mixed picture on payments. Missed payment rates remain low. month on month.

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Fico Collections

AUGUST 16, 2021

Last week, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae will begin considering borrowers’ rental payment history in its risk assessment process. But a great number of these consumers have payment histories – cell phone, utility and rent payments, etc. percent of the estimated 80 million U.S.

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For finance teams using Salesforce’s powerful CRM technology, automation can transform accounts receivable processes, driving efficiency and delivering measurable results like cost savings, reduced customer churn, and lower DSO.

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Credit Corp

AUGUST 16, 2021

Instead, how merchants respond to credit card disputes is spelled out in the merchant agreements they sign when they agree to accept credit cards for payment. Merchants can engage in “ chargeback representment ” to challenge your chargeback request and prove the original payment was valid. It doesn’t mean the merchant agrees.

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Collection Industry News

AUGUST 16, 2021

This effort will involve increased interaction between servicers and borrowers, including evaluation of additional loss mitigation options, such as repayment plans, payment deferrals, modifications, short sales and other foreclosure alternatives.

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With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Are you finding some snags in your collections process? Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy

May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST

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