Industry Leading Remittance Processing
What is "Retail" Lockbox Processing?
Retail processing refers to what are usually high volume, low dollar consumer payments. These payments are processed using an OCR A readable scan-line, allowing for high speed processing.
An example of a client who might utilize this service is an energy utility with thousands of consumers paying bills each month. These consumers would send mail with check payments for their utility bill to the energy utility's PO Box. This mail is then transferred to our secure facility where it is opened, imaged, and the payment is deposited into the energy utility's bank account.
We understand the need to process these payments as efficiently as possible and for good business practice to instill confidence in processing your consumers' payments. We utilize advanced processing software and hardware combined with a highly skilled and experienced remittance team to provide industry leading processing quality and speed.
Immediate Benefits of Retail Processing
- Automated processing - typical for coupon remitted with a check
- More efficient accounts receivable management
- No maximum on volumes processed - we will process all of your work as specified
- Customized solution designed to fit your retail remittance needs
- Remittance documents processed per your detailed specifications - we will process anything and everything you want us to (this includes exception items, manual items, credit card payments, and much more)
- Daily posting of all your remittance items to your accounts receivable system