REPAY Integrates with Lexop for Efficient Credit Union Payments
In today’s fast-paced financial landscape, the integration of cutting-edge technology plays a pivotal role in transforming how credit unions manage late payments. In a strategic move that promises to elevate the payment solutions for credit unions, REPAY Holdings Corporation, renowned for its vertically integrated payment solutions, has joined forces with Lexop, a self-service software tailored explicitly for credit unions, financial institutions, and financing companies.
This collaboration between REPAY and Lexop represents a significant step in streamlining the repayment process, enhancing member engagement, and reducing loan servicing costs for credit unions and their valued members.
A Seamless Integration of Technology
The seamless integration of REPAY’s advanced payment technology with Lexop’s collections management software is at the heart of this partnership. This dynamic blend of expertise aims to revolutionise the collection of late payments, thereby offering a more efficient and member-centric approach.
One of the standout features of this integration is the introduction of an integrated self-service portal powered by REPAY’s embedded payments technology, which enables credit unions to offer their members an effortless way to make payments at their convenience. Gone are the days of payment hassles, as members can now choose from various payment options, including debit cards, automated clearing house (ACH), text, mobile, and IVR. REPAY’s embedded payments engine ensures that payment data is transmitted in real time to Lexop, streamlining reconciliation and accounting operations for credit unions.
REPAY: Enhancing Member Experience
Jake Moore, EVP of Consumer Payments at REPAY, emphasises the importance of simplifying late payment collections, stating, “Collecting late payments can be a stressful and challenging operation for credit unions and their members, especially when members cannot make payments through their preferred channel. 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.”
A Commitment to Member Well-being
Amir Tajkarimi, CEO and Co-Founder of Lexop, shares Moore’s sentiments, saying, “Lexop is proud to empower credit unions with flexible payment options and further improve the efficiency of accounting functions through our integration with REPAY. We prioritise credit union members’ well-being during the collection process. We 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 is a leading provider of integrated payment processing solutions that cater to specific transaction processing needs across various industries. Their proprietary, integrated payment technology platform simplifies electronic payments for clients, enhancing the overall experience for both consumers and businesses.
About Lexop
Lexop is a pioneering 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, Lexop streamlines the entire collection process, making it more efficient and cost-effective than traditional methods. Lexop’s ultimate goal is to revolutionise the collection experience for credit unions and their members by providing user-friendly solutions that improve contact rates, payment recovery, and member satisfaction.
In conclusion, the partnership between REPAY and Lexop is poised to reshape the landscape of credit union payments. Credit unions can better serve their members while streamlining their operations by focusing on member convenience and providing a robust suite of payment options. This collaborative effort represents a significant step towards ensuring that late payments become a thing of the past, allowing credit unions and their members to embrace a more efficient and member-centric payment experience.
