iNNOVA

i-Collect Processor is the culmination of iNNOVA’s extensive experience in payment collection software for third-party collection companies. i-Collect Processor is a unique and integrated software platform that third-party concerns deploy to collect payments on behalf of billers through a variety of payment collection channels.

i-Collect Processor is a customer-focused system that facilitates the payment process for the customer and enables the third-party collection company to offer new payment alternatives and services.

i-Collect Processor technology offers a customer-focused system that facilitates the payment process for the customer and enables the collection company to offer new payment alternatives and services.

i-Collect Processor represents a breakthrough in payment collection and implements a model that is far superior to traditional offline collection methods based on file exchange. Through standardized online interfaces to a variety of payment channels such as banks, dealers, kiosk and POS networks, and Web/WAP portals, i-Collect Processor either presents unpaid invoice information to the customer, validates him, offers a variety of options for payment methods and instruments, receives payment, and updates the collection company’s billing. Where appropriate it can also provide interfaces to check and top up prepaid balances. Everything takes place online and in near real-time.

Through i-Collect Processor, the payment collecting company no longer has to make massive investments to increase the number of nodes in its collection network. All branches of associated banks and organizations such as the Post or retailers, as well as their ATM networks and internet banking facilities can act as virtual tellers of the company. Acting together with the company’s dealer network and website, this creates a huge network allowing customers to make their payments whenever they want and from their location of choice.

The online collection network provided by i-Collect Processor makes online monitoring of cash flow possible, while reducing operational expenses for both billing companies and collection intermediaries by automating processes such as end-of-day settlement.

How The System Works
i-Collect Processor maintains its own configurable database of unpaid and paid invoices which is fed by the billing system either online or via batch transfers. i-Collect Processor presents this information through a range of online channels on an on-demand basis.The database is updated in real-time by payment transactions while advices are automatically sent to the billers’ billing and other systems. i-Collect Processor can even work in debit/credit mode if the collection company prefers. The i-Collect Processor database also maintains prepaid account information and the system enables customers to manage and top up their prepaid accounts via the same online channels.

This online infrastructure has a number of advantages over the traditional method of exchanging invoice and payment information via file transfers between the collection company and payment channels such as banks.

Financial Reconciliation System
i-Collect Processor includes a comprehensive Financial Reconciliation System, which gives third-party collection companies the power to manage all commissions and value-dated operations with banks and billing companies. The features include:
• Managing both cash and card-based payments
• Managing variable commissions based on customer profile, volume, validity period, etc
• Obtaining information instantly about cash reserves, which is collected by banks and companies own tellers
• Managing all value-dated operations with banks
• Managing commissions through self-service terminals and Portals
• Managing all value-dated operations with banks
• Managing commissions made through self-service terminals and Portals

Dealer Network Management System
i-Collect Processor establishes an on-line connection between the collection company and its dealers and allows the company to monitor and manage all transactions in near real-time. iNNOVA’s approach to dealer management goes far beyond a conventional partner relationship management system.

i-Collect Processor provides capabilities that let the company build strong collaborative relationships with its dealer network. With the dealer management capabilities of i-Collect Processor, the company can:
• Manage, segment, layer, and authorize the dealer network
• Analyze and support dealer performance
• Manage deposit payments
• Manage commissions and incentive payments automatically
• Perform automatic reconciliations

 

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