Are you a collection agency, operating under the tight scrutiny of MCC 7322, constantly looking for a payment processing solution that offers both security and efficiency, while keeping you firmly within compliance? At Payscout, we don’t just understand the challenges—we’ve built our solutions to overcome them. We offer more than just payment processing; we offer unparalleled peace of mind.
Compliance: The Cornerstone of Success in Debt Collection
Regulatory oversight in the debt collection space continues to intensify, driven by stringent guidelines from bodies like the CFPB and evolving state-level legislation. For collection agencies, this isn’t merely about adhering to rules; it’s about proving compliance at every turn. In today’s complex collection landscape, robust compliance is not just a requirement—it’s the bedrock of your agency’s sustainability and reputation.
That’s precisely why Payscout has invested in a proactive, compliance-ready infrastructure, meticulously designed from our payment processing core right through to our proprietary Paywire Gateway. We help you anticipate, adapt, and operate with confidence.
Why Collection Agencies Trust Payscout: Our Unmatched Advantage
Payscout stands apart by delivering targeted benefits specifically crafted for merchants classified under MCC 7322 (Debt Collection Agencies). We go beyond basic payment processing to offer a strategic partnership that addresses your unique needs:
- Industry-Specific Expertise: With decades of experience serving the Accounts Receivable Management (ARM) industry, we possess a deep understanding of the regulatory risks and operational complexities inherent in debt collection. We’re not just a processor; we’re your industry insider.
- Proactive Compliance Support: Unlike reactive processors, Payscout empowers your agency to anticipate compliance changes and strategically adapt. Our solutions are designed with CFPB, card-brand, and state regulations in mind, ensuring your agency remains consistently compliant and audit-ready.
- Secure, Risk-Aware Payment Tools: Security isn’t an afterthought; it’s integrated into every layer of our platform. We offer:
- PCI-Validated Security: Featuring point-to-point encryption (P2PE) and tokenization, our solutions minimize your PCI scope, significantly reduce your data breach risk, and increase transaction security. Our platform is PCI DSS Level 1 certified—the highest standard available.
- Advanced Fraud Detection: Robust tools actively work to identify and prevent fraudulent transactions, protecting your agency’s bottom line.
- Real-Time Monitoring and Card Validation Capabilities: With built-in Real-Time BIN Validation, you gain immediate identification of card types (debit, credit, HSA/FSA). This crucial feature helps you:
- Filter out high-risk payment methods.
- Strategically route transactions for optimal processing.
- Dramatically reduce costly card-brand violations and chargebacks.
- Empowering Partnership: Minority Business Certified As a Minority Business Certified (MBE) company, Payscout offers more than just exceptional payment solutions; we offer a partnership that aligns with and enhances your own corporate values and objectives. Many corporations and government entities prioritize supplier diversity, and partnering with an MBE can help your agency meet its own diversity spend goals while benefiting from a provider committed to high standards of excellence and community engagement. This unique aspect underscores our dedication to innovation, service, and ethical business practices.
Paywire Gateway: Smart Technology That Works for You
At the heart of our offering is the Payscout Paywire Gateway—a purpose-built, PCI Level 1 certified platform engineered to meet the diverse payment challenges and stringent compliance needs of modern collection agencies. Paywire gives your agency the power to streamline operations with minimal disruption:
- Fee-Free Payment Support: Paywire Gateway facilitates Fee-Free payment models, enabling your agency to compliantly pass along convenience fees where permitted by federal, state, and card-brand regulations. This essential feature can significantly impact your bottom line.
- Unrestricted Payment Acceptance: While all processors must apply restrictions under MCC 7322, Payscout offers compliance-first solutions that help agencies route eligible transactions through the appropriate MCCs based on account type and use case.
Through our Paywire Gateway, agencies can securely and compliantly accept:
- ACH (Automated Clearing House): Reliable and widely accepted for direct bank transfers
- Digital Wallets: Options like Apple Pay and Google Pay for ease and convenience
- Credit Cards (when permitted): Routed through appropriate MCCs for eligible account types, maintaining compliance with FDCPA, state laws, and card-brand requirements
- Flexible Payment Tools for Every Channel: Paywire offers a suite of tools designed for secure, multi-channel payment acceptance:
- Robust API Integrations: For seamless, custom connections.
- Virtual Point-of-Sale (VPOS): Process payments efficiently via phone or desktop.
- Off-Site Buy Page (OSBP): Securely collect payments via a customizable, hosted payment page.
- OCX Desktop: For integrated desktop processing.
- Seamless Integration: Connects effortlessly with many leading collection software systems, ensuring smooth operations.
With Payscout, you can offer compliant and secure payment options that align with consumer expectations for convenience—helping reduce friction in the payment experience while maintaining the highest standards of transparency and data security.
Get in Touch: Streamline Your Payments, Strengthen Your Security
Our dedicated team is here to help you navigate the complexities of payment processing in the ARM space and support your business every step of the way. Let’s work together to streamline your payments, reduce your risk, and strengthen your compliance posture.
Contact us today at sales@payscout.com to learn how Paywire can support your business and help you thrive in the MCC 7322 landscape.
Don’t miss reading the MCC 7322 Guide to Improving ROI!
Have more questions read our MCC FAQ’s to get more answers.
