Payment Integration for Collections
CCQ is developing payment integration services for collection agencies and creditors’ rights law firms, with merchant services through True Data Merchant Services. The goal is to link payments to account records and reduce manual posting and reconciliation.
Who does what
A payment taken online or by phone often still has to be keyed into the collection system, matched to a file and creditor, and checked against what settled. Each step can miss a posting or leave a month-end mismatch.
Through True Data Merchant Services
- Merchant accounts and card payment processing
- Pricing comparisons for processing cost reviews
True Data supports collection agencies and creditors’ rights law firms. Each merchant account is subject to underwriting and approval by the applicable payment providers.
From CCQ
- Referring businesses to True Data
Planned integration work from CCQ
- Connecting payments to your collection system
- File number and creditor matching
- Payment posting
- Reconciliation, using the information available from your merchant account
Merchant services aren’t provided by CCQ.
Bank account payments
Where bank account (ACH) payments and payment plans are approved for a merchant account, each payment moves through distinct stages. A submitted payment is accepted for processing but isn’t final. Submission does not confirm settlement. Track settlement and any later return separately: the payer’s bank can still return a payment after settlement, for example for insufficient funds or a closed account. Availability, and the authorization requirements for recurring bank debits, would be confirmed during scoping.
Software integration
We would evaluate connections with the systems you use, such as FileMaker solutions, collection platforms, and internal databases, through an API or a supported file exchange, depending on what each system offers. No collection platform is supported yet; the options are confirmed during scoping.
FileMaker has been part of CCQ’s work from the start. See FileMaker integration.
How it would work
The details depend on your software and the payment tools approved for your merchant account.
Identify the account
Find the file by file number and confirm the creditor.
Submit payment through the approved payment interface
Use the approved payment interface for card or bank details. The intended integration would retain transaction references rather than full payment credentials.
Record the transaction reference
Keep the payment’s reference with the file.
Track settlement
Record when the payment settles.
Monitor for returns
Keep watching after settlement: a bank payment can be returned later, and a return is recorded on the file as a reversal.
Update and reconcile the collection system
Post each result to the file and match it against the settlement and return information available.
Discuss your integration
Tell us about your current setup. It helps to include:
- The collection software you use
- The payment methods you accept or plan to accept
- Your approximate monthly payment volume
- How you reconcile payments today
Please don’t send consumer account details, card or bank account numbers, or login credentials.
Collections integration is under development. Payment options and implementation depend on merchant approval, provider capabilities, and the systems involved.