FORT WAYNE, Ind.--(BUSINESS WIRE)--Allied Payment Network, a provider of online and mobile bill payment services to the financial industry, announced the availability of its PortalPay solution, an online loan payments option that allows a financial institution to accept loan payments through their website, from any internal or external checking account, without the need for an Internet banking user relationship.
PortalPay seamlessly operates as a landing page within the bank or credit union’s website. It enables individuals to make same day loan payments directly on their lending institution’s website - using any checking account - even when the account is with another institution.
To make a payment, customers or members simply enter their contact information, loan number and the account information from the checking account of choice. This offers loan payment simplification – without the friction – by offering a web-based loan payment option for borrowers, even those who are not Internet banking users.
PortalPay also gives financial institutions the option of up-charging for payments made from other financial institutions. A convenience fee could also be offered for those loan consumers who need the convenience of last minute payment options, saving them an additional late fee charge and, in turn, naturally building a longer term financial institution loyalty with this option.
Additionally, the product includes PicturePay®, which allows the consumer to make the payment by simply taking a picture of their check. This eliminates the need for a consumer to find and enter their routing and account information for their checking account.
“Our goal with PortalPay is to eliminate the friction for the loan payments for Allied’s customers – the financial institutions we serve and their valued customers and members. It’s a win-win in this highly competitive marketplace,” said Ralph Marcuccilli, president and CEO of Allied. “We see financial institutions providing greater opportunities to retain and grow their lending base loyalty, as well as grow their savings/checking relationships from the data provided by their lending customers and members. Knowing their clients better builds the type of relationship everyone aspires to have.”
About Allied Payment Network
Allied Payment Network is an industry-leading provider of emerging bill pay technologies to the financial services and retail industries. With its award-winning solution, PicturePay®, Allied pioneered the first mobile photo bill pay application for smartphones and has brought the same level of innovation to its full suite of online and mobile bill pay channels, including solutions for Internet bill pay, small business payments, over-the-counter payments and online loan payments, among others. Allied’s goal is to make the bill paying process easier and more convenient for consumers, and more efficient and cost effective for the financial institutions who serve them. For more information, visit www.AlliedPayment.com.