GAITHERSBURG, MD, February 18, 2015 – PaymentVision, a leading provider of electronic payment processing technology for the financial services industry, announced an exciting partnership with Shaw Systems Associates, Inc. The partnership will enable the Shaw Systems clients to securely process any form of payment – credit card, debit card, or ACH – in one-time, recurring, and fee-based transactions through online, mobile, agent-assisted portal, automated phone system, or directly within the Shaw application.
“PaymentVision’s integrated solution with Shaw Systems has allowed Persian Acceptance Corp. (PAC) to offer additional payment options to our customer base, which has increased its cash collections and resulted in a lower delinquency rate,” said Victoria Robbin, Compliance & IT Officer at Persian Acceptance Corp. “In addition, the payment file integration with Shaw has eliminated the need for manual input of payments – freeing up resources for the company and reducing data entry mistakes.”
“This integration was a collaborative effort between the Shaw and PaymentVision product teams to integrate an agent-assisted, web and IVR payment capability into a loan servicing and collections workflow, while keeping the systems outside of PCI scope,” said Sean Fleming, Product Director at PaymentVision. “The result is the only integrated payment solution for the Shaw Collections and Retail System, providing auto dealers and finance companies with new tools to increase productivity, maintain compliance, and deliver better service to borrowers. Many thanks to Stephen Brannon, the Shaw product team, and to our two pilots for their assistance in making this a successful launch.”
Shaw’s integrated solutions leverage existing applications to provide automation and flexibility while lowering costs. Their clients work smarter across all portfolios and manage customer-centric relationships and decisions. North America’s top financial institutions, including a vast number of auto finance leaders, use Shaw products and services. Some of Shaw’s client base includes banks, captive finance companies, credit unions, and specialty lenders.
“The Shaw Systems and PaymentVision partnership without question is a tremendous value add to our customers,” said Stephen Brannon, Director of Business Development at Shaw Systems. “We have been impressed with their groundbreaking payment technology that separates them in the payment space. The integration has been completed, and we have several mutual customers already using PaymentVision in their production environments. Those lenders are now more efficient at capturing customer payments sooner, using electronic wallets, making web and IVR payments, and securing future dated and recurring debit/credit card payments.”
Highlights of PaymentVision payment processing include:
- Hosted Tokenization enables finance companies to collect payments from within the Shaw Collections system without exposing long-term or short-term memory to card or bank account data.
- Integrated Card Authorization enables agents to send card authorization requests from within the Shaw Collections system and receive a response while the customer is present or on the phone.
- Bank Account Verification enables agents to verify that a bank account is open and in good standing prior to enrolling it in a payment arrangement.
- Retail Externalization File Interface enables self-service account inquires and payments via the web and Interactive Voice Response (IVR).
- Periodic Payments File Interface automatically loads payment activity into the Shaw Collections system every 15 minutes to flag accounts, update net payoff balances, and remove accounts from the dialer.
- Monetary Posting File Interface automatically posts payments and returns to the Shaw Retail system.
- Open Payment Gateway enables finance companies to bring their own bank or merchant account provider many times resulting in no hold, no reserve next day funding.
Join PaymentVision at the upcoming Shaw Systems User Conference from Feb 22-25, 2015 in Charleston, SC, or visit https://www.shawsystems.com/ to learn more.
About Shaw Systems Associates, Inc.
Shaw Systems has been a pioneer in automating the lending industry since 1967. Over 300 clients in eight countries have benefited from using their software products. Shaw provides complete solutions for loan and lease servicing and collections and recovery. For more information about Shaw Systems, visit https://www.shawsystems.com/ or call 804-272-3800.
PaymentVision is a biller-direct, PCI-certified, electronic payment gateway provider. PaymentVision offers clients the unified ability to accept ACH, check, and credit or debit card payments, by phone, or through Internet channels. PaymentVision solutions handle billions of dollars for thousands of financial institutions, large and small nationwide including, credit unions, banks, consumer finance, and collection agencies. For more information, please visit www.paymentvision.com; follow PaymentVision on Twitter @PaymentVision or on Facebook at www.facebook.com/paymentvision; or call 800-345-7243.
About Autoscribe Corporation
Autoscribe Corporation is a leading financial services company and payment processor. With more than two decades of innovation and leadership in the financial technology industry, Autoscribe offers a full suite of tools through PaymentVision and Lyons Commercial Data to help their customers grow their business, simplify payment processing, mitigate risk, and ensure compliance. Recently named to the Inc. 5000 as one of the fastest growing private companies in the nation, Autoscribe has 2,000 customers and processes more than $1 billion in transactions annually. For more information, please visit http://www.autoscribe.com; follow Autoscribe on Twitter @AutoscribeCorp or on LinkedIn at http://www.linkedin.com/company/autoscribe; or call 800-345-7243.
This press release includes certain “forward-looking statements” including, without limitation, statements regarding future events and Autoscribe Corporation’s business, strategy and results, that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are sometimes identified by words such as “will”, “may”, “could”, “should,” “would”, “project”, “believe”, “anticipate”, “expect”, “plan,” “estimate”, “forecast”, “potential”, “intend”, “continue”, “target”, “opportunities” and variations of these words or comparable words. As a result of the ultimate outcome of such risks and uncertainties, Autoscribe Corporation’s actual results could differ materially from those anticipated in these forward-looking statements. These statements are based on Autoscribe Corporation’s current beliefs or expectations, and there are a number of important factors that could cause the actual results or outcomes to differ materially from those indicated by these forward-looking statements, including, without limitation, risks related to the successful offering of the products and services of Autoscribe Corporation; and other risks that may impact Autoscribe Corporation’s business. Autoscribe Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein as a result of new information, future events, or otherwise.
Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.
Note to Editors: Autoscribe and PaymentVision are registered trademarks of Autoscribe Corporation. All other trademarks mentioned are the property of their respective owners.