[This is just one of my series of posts from the NACHA Payments 2008 conference in Las Vegas.]
ChoicePay Offers a Powerful, new Multichannel Electronic Payment Platform that Extends Remittance Solutions for Small & Mid-sized Billers [NACHA Payments]
I am really excited about a new service from ChoicePay
that will allow remittance vendors and financial institutions selling
to small and mid-sized billers to quickly and easily add electronic
payments to their lockbox offering. Elspeth Bloodgood, demo'd for me
how ChoicePay has taken its multi-channel payment platform (kiosk, call
center, walk-up retail, IVR, and online) and repackaged it for quick
deployment via white-label solutions. The biller customer will receive
a single stream of payment data (either via their remittance provider,
or via ChoicePay) combining all payment channels and supported with
Business Objects reporting capability.
The rapid provisioning of
this tool blew me away. The solution is not only completely modular,
but the onboarding process is a series of workflow-driven screes with
validation alerts built in. The biller enters preferences to match its
business process and adding a new payment method is remarkably simple.
In the background, the parameterized ChoicePay engine drives the
necessary web services. The ease of implementation means that small and
mid-sized banks can offer a comprehensive payment solution to
businesses with as few as 1000 transactions a month. ChoicePay will
train the resellers implementation and product teams to deploy and
support the solution.
The online interface can be customized to
match the branding of the biller (adding a logo, modifying colors, etc.
is as easy as formatting this blog – even easier). The solution is
multi-lingual and the interface for a one-time payment is the same as
for a recurring payment (you simply check a box to make the one-time
payment recurring and can elect to turn off paper billing).
It's very cool. I'll be monitoring the uptake of this solution over the coming months and will post follow ups.