Repay Holdings Corporation (NASDAQ: RPAY), a provider of vertically-integrated payment solutions, announced a new partnership and technology integration with Kredit Financial, a digital debt resolution platform and network.
The collaboration enables collection agencies, debt buyers and collection law firms “that use Kredit’s technology platform to offer flexible payment methods that reduce friction and increase transparency and accountability in every financial transaction.”
Through the integration, Kredit users will be able “to accept card and ACH payments directly through Kredit’s debt resolution platform, streamlining the payment collection process and enabling businesses to optimize internal workflows and simplify reconciliation.”
Providing easily accessible and secure ways to pay, “including through Kredit’s online portal, improves collection efforts by empowering consumers to pay when it’s most convenient for them.”
Jake Moore, EVP, Consumer Payments, REPAY, said:
“The collections process can be challenging and complex. By partnering with Kredit, we’re making it easier, faster and more secure for debt collectors to accept payments and track payment progress, which is critical in this industry. On the other side, we’re also reducing friction and making it more convenient and flexible for consumers to pay their debts using their preferred methods.”
Dave Hanrahan, Co-founder and CEO of Kredit, said:
“We place a strong emphasis on our clients and their experiences with our technology platform, and we’re continuously looking for new ways to add value and convenience. We look forward to working with REPAY to modernize collections and make it easier for clients to collect payments and communicate with consumers.”
As noted in the update, REPAY provides integrated payment processing solutions “to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.”
As mentioned in the announcement, Kredit claims it is “the leading digital debt resolution platform and network.”
Its software applications help creditors, ARM organizations, and consumer financial advisors to “simplify and modernize their collection communications.”
It also enables Kredit’s consumers to “unify all accounts in collection into a single platform while managing, paying, and communicating with vendors in a friendly, efficient, and consumer-oriented way.”