Embedded payment technology from REPAY provides enhanced payment options for credit unions using Lexop’s digital collection software
Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY”), a leading provider of vertically-integrated payment solutions, today announced a new technology integration with Lexop, a self-service software for credit unions, financial institutions, and other financing companies that optimizes the repayment journey for past-due consumers. The REPAY integration with the Lexop collections management software enables their clients to collect late payments more efficiently, receive real-time payment updates, increase engagement, and minimize loan servicing costs.
Lexop clients can now offer members an integrated self-service portal, empowered by REPAY’s embedded payments technology, to make payments more easily at members’ convenience. Additionally, credit unions and financial institutions can accept debit card, as well as automated clearing house (ACH), payments via text, mobile, and IVR. REPAY’s embedded payments engine seamlessly sends payment data back to Lexop in real time, streamlining reconciliation and accounting operations.
“Collecting late payments can be a stressful and challenging operation for both credit unions and their members, especially when members cannot make payments though their preferred channel,” said Jake Moore, EVP, Consumer Payments, REPAY. “REPAY’s integration with Lexop helps to alleviate that burden by offering multiple payment options, making remittance convenient for members and payment updates instantaneous for their financial institutions.”
“Lexop is proud to empower credit unions with flexible payment options and further improve the efficiency of accounting functions through our integration with REPAY,” said Amir Tajkarimi, CEO and Co-Founder of Lexop. “We prioritize credit union members’ well-being during the collection process and are confident that the new capabilities enabled by REPAY will enhance our customers’ ability to build strong connections with their members through convenient payment methods.”
About REPAY
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.
About Lexop
Lexop is a leading digital payment and collection software solution that empowers members to self-cure their late bills. With advanced automation capabilities, data analytics, and an intuitive payment portal, we streamline the entire collection process, making it more efficient and cost-effective than traditional methods. Lexop is on an exciting journey to revolutionize the collection experience for credit unions and their members by offering a user-friendly solution to improve contact rates, payment recovery, and member satisfaction. Learn how Lexop is empowering members and redefining collections at www.lexop.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240201566449/en/