News, views & analysis blogs by: Jessica Satterfield-Reyna





Subject

Jessica Satterfield-Reyna :
Sigma Payment Solutions adds to suite of automotive loan payment channels with automated pay-by-phone technology

Interactive Voice Response (IVR) system – now available nationwide – encourages more on-time car payments, eliminates human error, and allows collectors to focus on delinquent borrowers.



Article:

Jessica Satterfield-Reyna :
FORT WORTH, TX – June 13, 2014 – Sigma Payment Solutions, the first and only auto loan payment processing provider to also offer a full menu of advanced payment channels nationwide, has launched an automated pay-by-phone solution. This option leverages Interactive Voice Response (IVR) technology and allows for improved efficiency among collectors, while eliminating compliance risk from human error.

“By giving car buyers one more convenient way to pay their bills, we remove the hurdles to paying on time,” said Susan Perlmutter, Chief Revenue Officer at Sigma. “In addition, there’s no risk of the payment data being recorded incorrectly or of customers’ confidential information falling into the wrong hands.”

Perlmutter said one of the biggest benefits of automated pay-by-phone is that it frees up collectors to pursue delinquent accounts, rather than focusing on customers who already plan to pay.

On average, an inbound IVR system processes a payment in 3.5 minutes, versus 5.5 to 6 minutes when a collector works the account. The automated solution also costs 65 cents per payment or less, a significant savings over the human alternative.

Clients using automated pay-by-phone benefit from:

- Their own toll-free pay-by-phone number to publish to customers
- Ability to accept payments 24 hours a day, 7 days a week
- IVR prompts that reflect the client’s business name and branding
- Ability for customers to reach an operator at any point during calls
- Transcription of all calls for future reference
- Monthly reporting that meets or exceeds compliance requirements from NACHA – The Electronic Payments Association

Clients can use Sigma’s pay-by-phone solution as a stand-alone product or as an integrated service within one of Sigma’s partner Dealer Management Systems (DMS), such as AutoStar Solutions.

In addition to pay-by-phone, Sigma also offers customized Web-based payment portals, mobile card readers and touch-screen payment kiosks. The company will roll out a pay-by-text solution this summer.

To learn more, visit www.sigmapayments.com or call 888-BE-SIGMA. Prospects may also drop by the Sigma booth at the 2014 NIADA Convention and Expo, June 23-26, and the 2014 Innovate Conference, Sept. 21-24. Perlmutter will speak at both conferences on compliance and today’s sophisticated payment technologies. For more information, visit www.niada.com or http://innovate.autostarsolutions.com.

ABOUT SIGMA PAYMENT SOLUTIONS
Sigma Payment Solutions offers integrated, full-service, automated payment processing solutions to businesses nationwide. Their services include processing support for all major credit and debit card transactions, as well as ACH processing, Web payments, telephone checks, and more. Using the most secure and advanced technology available, Sigma endeavors to provide the lowest payment processing rates possible for each client. Learn more at www.sigmapayments.com.


































































































































































































































































Automotive Industries
Call For Interviews, News & Advertising

x

Thank You

x