Repay Holdings Corporation (NASDAQ: RPAY), a provider of vertically-integrated payment solutions, announced a new partnership and technology integration with Maxyfi, a provider of collections and accounts receivables management software for lenders, collection agencies, and law firms.
The collaboration enables Maxyfi clients to “offer flexible payment methods that accommodate consumer preferences and improve the overall collection process.”
REPAY’s integration enables businesses “utilizing the Maxyfi software to streamline payment collections, while optimizing internal workflows and reconciliation through real-time data exchange.”
The integration with REPAY also “provides easily accessible and secure omni-channel payment methods, including online, text, mobile and IVR, enhancing collection efforts by empowering consumers to pay through the method that is most convenient for them.”
Jake Moore, EVP, Consumer Payments, REPAY, said:
“When consumers are able to make payments through their preferred payment channel and method, the collections process improves significantly. Our partnership with Maxyfi enhances operations for collectors and modernizes accounts receivable management for consumers by empowering both parties to manage transactions without the hassle of outdated processes.”
Ashraf Ali, Co-Founder & CSO of Maxyfi, said:
“Enhancing our clients’ experiences with our platform is at the forefront of our priorities. By leveraging REPAY’s payment expertise and our seamless integration with their platform, we look forward to further supporting our clients’ collections processes by simplifying payments.”
As noted in the update, REPAY explains that it “provides integrated payment processing solutions to verticals that have specific transaction processing needs.”
REPAY’s proprietary, integrated payment technology platform reportedly “reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.”
As mentioned in the announcement, Maxyfi is “a SaaS-based automated debt collection software that is designed in such a way that it can be easily operated by collection agencies. Maxyfi’s vision is to enable collection agencies and businesses with the right insights, strategies, and intelligent tools that will assist them in recovering debts and generating more revenue very quickly.