Alorica is looking to improve the payment options that are available with its digital wallet by partnering with PayNearMe. A company that provides a payment platform called PayXM, which would be integrated into the system of Systems & Services Technologies (SST). This would enable the PayXM platform of PayNearMe to be integrated with the system of SST. Thereby improving the capabilities of loan servicing and collection systems. This would enable lenders to accept debit, credit, ACH, and cash. Most digital wallets, such as Apple Pay, Cash App Pay, Venmo, PayPal, and Google Pay, among others.
“We continue to invest in best-in-class technology partners that elevate the value we bring to our clients and adapt to our consumers’ changing needs,” said Jay King, President of Alorica Financial. “Payments are a pivotal point in the servicing journey, and integrating PayNearMe into our SST delivery model allows us to offer a more modern, convenient, and intelligent payment experience that improves operational efficiency and increases customer satisfaction.”
Enhancing Loan Servicing Through Modern Payment Experiences
Furthermore, SST also benefits from having over 25 years of experience in servicing. Loan portfolios worth $70 billion, coupled with a 96 percent client retention rate. The integration of PayNearMe further solidifies the position of SST as a complete loan servicing solution. In addition, the integration enables a better payment experience that reduces friction and improves portfolio health. Accommodates the changing nature of payments from borrowers. Alorica and PayNearMe are providing a complete solution to the payment experience, which is holistic.
“Managing payments today requires more than just processing transactions it demands actively orchestrating and improving the entire payment lifecycle,” said Michael Kaplan, Chief Revenue Officer, PayNearMe. “Through Payment Experience Management, lenders can accelerate payments, improve borrower satisfaction, and reduce total cost of acceptance, driving stronger financial and customer outcomes.”
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News Source: Businesswire.com
