At Respaid, we've harnessed cutting-edge technologies, enabling us to achieve collection speeds six times faster than traditional agencies and recover three times the amount of unpaid bills. Several of our clients have already integrated our tools within their own collections teams.
Managing collections can become intricate when debtors commit to repaying their debts at a later date, introducing unpredictability into the process. Often, debtors may request further extensions upon the agreed deadline.
To address this issue, we've introduced Pay Later. Has your debtor pledged to make a payment within the next two weeks? With Pay Later, you can securely register their card information and schedule the payment for the specified due date. Initially, there is a zero-euro validation charge, and on the scheduled payment date, the card will be debited for the agreed-upon amount. Our success rate with this solution is approximately 90%, ensuring smoother debt resolution.
Installment payments are a powerful tool for a collection team. Typically, the debtor commits to making payments on a regular basis and provides their SEPA contact information. This creates two problems:
- The law allows a SEPA transfer to be reversed up to 6 months after payment. This is a major source of fraud
- If the direct debit fails, the bank charges the company a large amount of money
- This is why we have created our own tool for installment payments, by credit card. The collection teams are no longer subject to the constraints of SEPA direct debits.
Access to these innovations is reserved primarily for the collection or financial teams of our Respaid customers. However, we regularly open invitations for third party companies.
We collect small debts using AI + Respect.
