Paydit

Paydit is a collections automation platform designed to streamline and optimize the collections process for businesses. According to the vendor, it caters to small to enterprise organizations, providing them with an efficient solution to manage and resolve past-due accounts. Paydit is said to be widely used across various professions and industries, including financial services, lenders, healthcare, utilities, and municipalities.

Key Features

Automated engagement: Paydit offers an omni-channel digital communication suite that enables businesses to engage with past due consumers through personalized messaging. According to the vendor, this feature allows businesses to streamline their communications with a single platform and provider by supporting multiple channels.

Convenient self-service options: Paydit provides a white-labeled self-service portal that is available 24/7 to consumers. The vendor claims that this allows consumers to conveniently resolve their past-due balances at their own convenience. The resolution options are said to be tailored based on the stage or age of the past-due account.

Flexible re-payment channels: Paydit offers multiple integrated and seamless payment channels, providing consumer-centric re-payment options. According to the vendor, this feature aims to reduce friction in the re-payment process, potentially improving the results of collections efforts.

Convert from promise to payment: Paydit helps businesses retain consumers on promised re-payment arrangements by enabling self-management of future installments. The vendor states that this feature utilizes smart retries to optimize successful payments, increasing the likelihood of converting promises into actual payments.

Optimize collection campaigns: Paydit leverages data and machine learning to enhance every step in the automated collections process. According to the vendor, this feature utilizes insights from the data to improve recovery rates and provide built-in reporting and insights for businesses to understand the performance of their collection campaigns.