GAITHERSBURG, MD, May 10, 2010 – PaymentVision, an expert in electronic payment processing technology for the collection industry, today announced the release of its fully integrated offering for AMS2000 by Auto Master, one of the leading providers of receivables management software for the auto loan servicing industry.
Buy Here-Pay Here dealers already rely on Auto Master for comprehensive Accounts Receivables Management, collector productivity tools and loan closing workflow. As a result, the Auto Master system provides the technical infrastructure vital for the self-financing dealer.
“By tightly integrating electronic payment processing with the core Auto Master System, we can help our dealers save five minutes in staff time per payment transaction,” said Brian Hoppel, Auto Master vice president. “In addition, PaymentVision is able to support our clients with faster funding and a higher level of security.”
PaymentVision security includes managing financial account data through the use of tokenization. With tokenization, financial account data is never stored on the dealer’s system. It is passed directly to PaymentVision where it is securely stored in a payment vault. PaymentVision, in turn, provides a randomly generated, totally unique ID number (the token) which can be used to initiate future payments using the same financial account information. The PaymentVision platform is PCI DSS Level 1 compliant, which is the highest level of compliance available.
Highlights of PaymentVision payment processing include:
- Reduced administrative overhead -the system takes care of posting payments;
- No hold, no reserve – PaymentVision’s flexible settlement options allow dealers to leverage their current banking relationships, eliminating hold requirements and accelerating funds receipt;
- PCI peace of mind – PaymentVision quickly reduces compliance overhead by eliminating the storage of sensitive financial account data from dealer systems;
- Increased collections through self-serve online and IVR phone payments.
“We are pleased to announce the availability of PaymentVision processing for Auto Master AMS2000, which will deliver their clients real-time authorization, faster funds and greater security,” said Christopher McClinton, vice president, sales of PaymentVision. “We believe this integration offers users a range of new features designed to streamline accounts receivables management processes and boost collection activity.”
PaymentVision will be exhibiting in Booth 332 at the 2010 NABD National Conference of Buy Here-Pay Here Dealers Tuesday, May 11 – Thursday, May 13, in Las Vegas, Nevada.
About PaymentVision Gateway Svcs
PaymentVision® is a biller direct electronic payment service provider and payment gateway that offers clients the ability to accept ACH and credit or debit card payments by phone or online. PaymentVision also partners with key software providers in targeted vertical markets to provide payment processing via the PayAPI®, a SOAP-based XML web service. For more information, visit www.paymentvision.com.
About Auto Master Systems
Auto Master Systems, Inc. has been the leader in software development for the BHPH community for over twenty years. They offer a product that encompasses all aspects of dealership and finance company operations ranging from credit scoring through accounting integration. Auto Master Systems prides itself on its ability to integrate with third party companies to offer the best and latest technology to its customers. For more information visit www.auto-master.com.