PayMyBill Assists Arrow Financial?s Evolution to ePayments

PayMyBill(sm) recently enabled industry leader Arrow Financial Services LLC to automate and electronically process payments, including its phone check payment authorizations. As a result, Arrow is now realizing the benefits of ePayments: improved yields; expedited funding; automated returns management and enhanced electronic reporting (with daily executive summaries, specific payments detail, and automated entry of payment data and status information to update its financial information systems).

?PayMyBill services allow us to present electronic checks up to three times instead of the single representment of insufficient funds paper checks? said Brian Cutler, Arrow EVP and Chief Technical Officer. ?The banks run their electronic transactions before the paper checks, improving our realization on good funds. PayMyBill also approaches reporting and returns management in a way that greatly simplifies reconciliation.?

?Our strategic representment programs offer a choice of targeting electronic payroll deposits or expediting activity to achieve either payment or followup as soon as possible? stated Kent Stuckey, CEO of PayMyBill. ?We empower our partners to optimize payment realization, cash management benefits, and operating efficiencies through our Total ePayment Solutions(sm).?

PayMyBill actively markets to, and through, the collections industry to electronically process, fund and report electronic bill and debt payments. PayMyBill processes all payment methods (credit/debit card and electronic check) and provides all consumer platforms (call center, IVR and Internet) on a turnkey basis as well as converting paper checks to electronic payment transactions. Agencies can benefit by using these services and also offering them as a value-add sale to their credit grantor clients.

PayMyBill and Total ePayment Solutions are service marks of Internet Transaction Solutions, Inc. – (877) 272-9245 (www.TransactionSolutions.com).