Why is using a third party for internet collections better than using my own internal or “branded” site?
Most large issuers and collections organizations develop internal “payment” systems which are merely offered as an extension of the direct payment options. Most managers have shared with us that they got an unacceptable usage rate and corresponding negative ROI. By using a third party, you can drive more accounts to the site. Factors that improve utilization are: • By using “special terms” verbiage you can imply a value to the debtor for using American Payment Technologies • There is greater comfort dealing with a neutral “escrow” party on an obligation with lower fear of excessive pressure tactics. • The entire concept of the American Payment Technologies Site is geared toward education related to debt options and providing debtor help and consulting. This concept promotes debtor loyalty and the sincere desire to reach a mutually acceptable solution to the payment of your account.
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