No-Cost-to-Biller: A Compliant Fee Model for Collections

Base Insights

No doubt about it… collections merchants operate in one of the most highly scrutinized and regulated industries in the U.S. Achieving and maintaining adherence to the myriad of processing guidelines (FDCPA, TCPA, FCRA, HIPAA, PCI, CFPB, etc.) is a labor-intensive but crucial job for agencies.

Then, on top of government regulations, there are card brand rules that have to be followed to ensure payments made using Visa, Mastercard, Discover, AMEX, HSA and other cards continue without interruption.

Base recognizes the importance of staying in compliance with all of these requirements as a way to help mitigate risk, but more importantly to ensure that agencies can process payments promptly and continually. In May of 2020, Base acquired LucentPay’s No-Cost-to-Biller™ solution, which is designed to address the four primary compliance pillars:

  • Card Brand rules
  • FDCPA
  • CFBP
  • State law

The company’s fee-enabled models are similar to Western Union’s SpeedPay™ but are tailored to enable agency clients to adhere to card brand rules and stay within the guidelines of permissible industry practices.

To learn more about Base’s focus and mission is to bring clarity to payment processing, educate clients, and help them provide exceptional payment solutions to their consumers, reach out to one of our experienced Business Development Executives today.

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