GAITHERSBURG, MD and DES MOINES, IA, Dec 04, 2013- Wexford & James, a national provider of receivables management services, has completed a pilot program of an integrated debt collection and electronic payment solution.
Integrated PaymentVision and Latitude Software solution helps Wexford & James increase efficiencies and mitigate PCI-scope and compliance risk.
The solution combines PaymentVision’s electronic payment features, with a debt collection system from Latitude Software, an Interactive Intelligence Group Inc. company.
As a result of the pilot, Wexford has realized increased efficiencies and reduced risk, according to Wexford President Mike Shafer.
“Prior to the integration, we had to process payments in one system, and manage how they were applied in another,” Shafer said. “With the integration, everything works seamlessly. As a result, our account managers are more productive and I have the peace of mind that card data is being protected in adherence to the latest PCI requirements.”
The Wexford pilot program included integrated PaymentVision and Latitude functionality that resulted in the following:
- Hosted Tokenization enables Wexford agents to collect payments from within the Latitude user interface without exposing long-term or short-term memory to card or bank account data.
- Batch Control initiates settlement cut-offs within the Latitude system to comply with creditor remittance requirements and resulting in simplified reconciliation.
- Channel Synchronization provides Wexford customers and agents a real-time view of all payment channels both on the Web and within the Latitude user interface.
- Mobile Optimization provides an intuitive payment website designed to optimize the user experience across a broad range of mobile browsers and screen resolutions.
“The Wexford pilot program demonstrates that our integrated solution accomplishes just what we intended: to give our joint customers the benefits of our respective features without exposing them to additional compliance risk or overhead,” said Kenny Goedelman, Latitude Software’s development group manager.
“By building an integrated workflow that keeps the Latitude server outside of all aspects of PCI scope, we’re enabling companies like Wexford to successfully meet increasingly stringent PCI requirements,” said Sean Fleming, PaymentVision’s director of product management. “Our joint solution is especially timely given the finalization of PCI 3.0 this month, which includes stricter rules for card data flows in particular.”
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 http://www.paymentvision.com; follow PaymentVision on Twitter @PaymentVision or on Facebook at http://www.facebook.com/paymentvision or call 800-345-7243.
About Wexford & James
Wexford & James is a trusted partner, providing a full range of receivables management services to a multitude of fortune 500, mid-size and small businesses alike – from their receivables outsourcing services to their traditional debt recovery and litigation services designed to deal with the most troublesome accounts. For more information, please visit http://www.wexfordjames.com; or call 877-547-6848.
Chief Executive Officer
Wexford & James