Payix and Nortridge Software Expand Exclusive Partnership to Enable Clients to Accept Online Cash

Rhea-AI Summary

Payix, a REPAY company, has expanded its partnership with Nortridge Software to introduce eCash, a new online cash payment acceptance solution for lenders and borrowers. This innovative service allows borrowers to make cash payments at thousands of retail locations including convenience stores and pharmacies, streamlining the reconciliation process. The integration will enhance Nortridge's Loan Management System, improving payment acceptance and reporting capabilities. Both companies aim to enhance borrower experience and streamline loan repayment processes.

Positive

• Expansion of partnership with Nortridge enhances payment capabilities.
• Introduction of eCash allows cash payments at thousands of retail locations.
• Integration into Nortridge Loan Management System improves workflow and reporting.

Negative

• None.

Enhanced technology integration between Payix and Nortridge Software answers increased demand for cash payments

FORT WORTH, Texas--(BUSINESS WIRE)-- Payix, a REPAY company and nationwide leader in borrower-facing collections and communications tools, proudly announces an expansion of its exclusive partnership with Nortridge Software, a leading software provider for lenders and loan servicing companies, to provide online cash payment acceptance, known as eCash, to Nortridge clients.

eCash streamlines payment acceptance by enabling borrowers to make payments on their loans using cash at thousands of participating retail locations, including major convenience stores, dollar stores and pharmacies. Cash payments are then settled electronically to the system of record to simplify reconciliation and end-to-end payment management all from one place.

Payix eCash technology will be embedded within the Nortridge Loan Management System (LMS), providing clients with enhanced payment acceptance capabilities, robust reporting, streamlined workflows and simpler reconciliation through the real-time integration.

“We are excited to add an online cash payment acceptance offering to our exclusive partnership with Nortridge Software,” said Preston Cecil, co-founder of Payix. “As a company focused on enhancing the borrower experience, we aim to improve the loan repayment process by offering convenient payment solutions for lenders and their borrowers. Our expanded partnership with Nortridge will continue to provide lenders with the ability to meet consumers’ payment preferences by equipping them with a cash payment option.”

“Lenders are always striving for ways to improve collections,” said Greg Hindson, Nortridge Software president and CEO. “The integration between Nortridge and Payix makes it easy for borrowers to pay anywhere and anytime – benefiting both borrowers and lenders.”

About Payix

Payix, a REPAY company, helps lenders and loan servicers improve their ability to engage with borrowers and collect payments. Payix borrower-facing tools – with real-time loan management system integration – display client branding for quick borrower adoption and lasting utilization. Using Payix state-of-the-art technology, lenders and loan servicers can instantly communicate with borrowers across multiple channels and secure qualified promises, one-time and scheduled payments. For more information, visit payix.net.

About REPAY

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.

About Nortridge Software

Nortridge Software LLC provides lenders and loan servicers with the automation needed to more profitably originate, service, collect and report on loan portfolios. Since 1981, Nortridge has leveraged its experience in banking, lending, and software development to provide clients with quality software solutions and excellent support services. Today, the Nortridge Loan System is valued by loan servicing companies representing a wide range of industries and loan portfolio sizes. The company is headquartered in Foothill Ranch, Calif. For more information, visit nortridge.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005478/en/

Media Relations Contact for Payix:

Heather Dietel

heather.dietel@payix.net

Media Relations Contact for REPAY:

Kristen Hoyman

khoyman@repay.com

Source: Payix

FAQ

What does the eCash service by Payix offer for lenders and borrowers?

The eCash service allows borrowers to make cash payments at thousands of retail locations, streamlining the payment process for lenders.

When was the partnership expansion between Payix and Nortridge Software announced?

The partnership expansion was announced on May 2, 2022.

What are the benefits of the integration between Payix and Nortridge Software?

The integration provides enhanced payment acceptance capabilities, robust reporting, and streamlined workflows for lenders.

How does eCash improve the loan repayment process?

eCash improves the loan repayment process by offering a cash payment option that meets consumer preferences.

What is the impact of the Payix and Nortridge partnership on the stock symbol RPAY?

The partnership may positively impact RPAY by enhancing service offerings and customer satisfaction.