PaymentVision Announces Integrated Electronic Payments for The Collector System

GAITHERSBURG, Md. — PaymentVision, an expert in electronic payment processing technology for the collection industry, today announced the release of its fully integrated offering for The Collector System by Columbia Ultimate, via an add-on module developed by Cubs Consulting.

The Card Number Collection Module is an integrated and secure way to accept credit card and electronic check payments from The Collector System (TCS). The module supports the creation of one-time and recurring payment arrangements.

"Our clients told us they wanted to reduce duplicate entry of payment information and support a wide variety of fee plans,” said John George: President of Cubs Consulting. “PaymentVision was able to support those options with a lightweight API that also happens to be heavy on security."

PaymentVision security includes managing financial account data through the use of tokenization. With tokenization, financial account data is never stored in the TCS system. It is passed directly to PaymentVision where it is securely stored in a payment vault. PaymentVision, in turn, provides a randomly generated, totally unique ID number (the token) which can be used to initiate future payments using the same financial account information. The PaymentVision platform is PCI DSS Level 1 compliant, which is the highest level of compliance available.

Highlights of Card Number Collection Module include:

Processing credit cards and ACH checks directly from the TCS collector screen;
Support for immediate payment transactions and/or multiple future dates;
Highly configurable ‘convenience fees’ rules per agency requirements;
Direct availability from the terminal emulator collectors are already using.

"The Card Number Collection Module will help agencies using TCS achieve a more integrated experience that saves time and increases the number of transactions processed in any collection environment," said Christopher McClinton: Vice President of Sales, PaymentVision. "This new product enables TCS agencies to quickly deliver enhanced payment acceptance solutions to their users without incurring the costs and effort to build and maintain a secure transaction processing infrastructure."

PaymentVision will be exhibiting in Booth 2 at the 2010 Cubs Consulting Users Conference May 11 – May 13, at Caesar’s Palace in Las Vegas, Nevada.

About PaymentVision Gateway Svcs
PaymentVision is a biller direct electronic payment service provider and payment gateway that offers clients the ability to accept ACH and credit or debit card payments by phone or online. PaymentVision also partners with key software providers in targeted vertical markets to provide payment processing via the PayAPI, a SOAP-based XML web service. For more information, visit www.paymentvision.com.

About Cubs Consulting
Cubs Consulting, Inc. (CCI) was founded in 2000 as an alternative to vendor offerings for custom programming and technology enhancements to The Collector System. This system, commonly referred to as the "CUBS System," is one of the most advanced enterprise scale software systems available for streamlining the management and processing of collection accounts. For more information visit www.cubsconsulting.com.