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Western Union Introduces new Web Phone Pay.(Brief Article)

Mortgage Servicing News

| September 01, 2002 | COPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Western Union Commercial Services, a provider of electronic payment services, announced improvements to its Phone Pay check-drafting service earlier this year.

The new service is called Web Phone Pay, and Western Union said it centralizes customer payment data, creates a real-time customer payment profile and appends payment transactions to customer records.

The enhancements allow customer service representatives to make informed decisions regarding the optimum payment method while they are on the phone with the customer, Western Union said.

Web Phone Pay will benefit creditors that have multiple locations but need real-time access to a common database, as well as businesses that seek to remove software from the desktop and businesses that experience "insufficient funds" problems too often, Western Union said.

Additionally, Web Phone Pay provides online reporting with real-time information.

Each transaction is initiated by a customer service agent who is seeking payment from a customer. The service provides those agents with access to customer payment ...

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Source: HighBeam Research, Western Union Introduces new Web Phone Pay.(Brief Article)

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