Why Lenders Should Accept Debit Card Payments On Loans
Over the years the demand for allowing debit card payments has increased drastically. Allowing borrowers to pay back their loans with their debit cards has not only made things a lot easier for them but has also had positive results for the lender. This form of payment means that the lender is able to collect more payments on time, reduce losses on loan payments, see fewer amounts of default payments, and see overall revenue growth.
What Revenue Growth Can Do For Your Business
This easy form of payment is likely to keep your customers happy. This will work out well for you because it means that they are more likely to keep their account open with you and continue going to your business for their lending needs. This will also attract more customers to your business because it is their preferred payment method. Most people don’t like having to fill out all that additional information that other payment methods require.
Allowing borrowers to pay back their loans with their debit card also takes a weight off your shoulder because payments are instant. You won’t have to wait around wondering if the payment will go through or not. This will also shorten up the amount of time borrowers spend on the phone making a payment, freeing up your business’s phone line for more clients.
Let Us Handle Your Merchant Account for Your Lending & Debt Business
The rules of payment processing are always changing, so eMerchant Authority takes care of learning the rules and regulations so you don’t have to. You can focus on your company’s needs while eMerchant Authority handles your Debt Repayment Merchant Account.
When your lending company partners with eMerchant Authority you will have access to:
Multiple banks to handle your payment processing solutions
Connect between multiple applications with API Integration
Interchange debt repayment support with Visa and Mastercard
Recurring billing cycles
Easy to setup
Dedicated account manager
WHY USE eMERCHANT AUTHORITY?
The leader in merchant processing for businesses of all sizes. No cost, surcharge and low cost processing options. Latest hardware including Clover systems at unbeatable prices.
Merchant Account Experts
20+ Proven Bank Realtionships
Medium/High Risk Accounts
Fast Merchant Account Approval
E-Commerce & Retail Options
B2B Vendors Supported
Multiple Payment Solutions
Multiple E-Commerce Gateways
ACH, E-Check, Credit Cards
B2B Level 2/3 Data Discounts
3D Secure Frictionless Checkout
Intuitive Technology & Support
Gateway Recurring Billing
E-Commerce Cart Plugins
International Merchant Accounts
Dedicated Account Managers