Retail Lockbox Service
Our retail lockbox service is designed to serve companies that receive large volume, low dollar consumer payments. We understand the need to process these payments as efficiently as possible, and for good business practice to instill confidence in processing your customers’ payments. We utilize innovative technology and advanced processing software and hardware combined with a highly skilled and experienced remittance team to process your consumer payments. Our retail lockbox solution also involves scanning your remittance documents, allowing you access to review your payment information electronically and updating your accounts receivable system as necessary. By utilizing OCR technology, we ensure your scannable documents are imaged with the correct payment information and are processed as quickly as possible.
What are the benefits of a retail lockbox solution?
- Automated processing – typical for a 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 so much more)
- Daily posting of all your remittance items to your accounts receivable system
- Also includes the main benefits of lockbox services!
Who do we serve in the retail lockbox industry?
Our focus on our retail sector involves customers that typically receive B-2-C (business to consumer) payments and include the following industries:
- Healthcare
- Utilities
- Financial Institutions
- Property Management
- Telecommunications
Find out how we can help streamline your retail remittance processing and allow you to experience increased operational efficiency, improved customer service, and gain more profitability in your lines of business.
