Clik2pay partners Inovatec to improve debt collection for lenders

Wednesday 30 November 2022 11:45 CET | News

Canada-based payment service provider Clik2pay has partnered Inovatec to improve the debt collection experience for lenders.


The collaboration will allow Inovatec’s clients to request payments from customers using Clik2pay’s direct-from-account payment platform. The platform leverages a transfer system named Interac e-Transfer, which allows lenders to automatically reconcile payments in a safe and secure way. 

Clik2pay’s integration with Inovatec allows lenders to send emails to collect payments directly from their customers’ bank accounts. The payments are automatically reconciled on the Inovatec platform. Agent-assisted collections work by texting the customer a payment link and receiving a real-time notification of payment completion. 

Clik2pay officials have highlighted in the company press release that allowing borrowers to make payments directly from their bank account in real-time through an email or text simplifies the payment process and supports more efficient collections and payment reconciliation by lenders.


Canada-based payment service provider Clik2pay has partnered Inovatec to improve the debt collection experience for lenders.


More information about Clik2pay and Inovatec

Clik2pay supports bill and invoice payments from customer bank accounts by text message, e-mail or QR code, and its primary business features include easy-to-use APIs, status updates, end-to-end payment tracking, real-time notifications, transaction history, and a complete settlement file. 

Inovatec’s cloud-based solutions aim to help lenders close more deals, create efficiencies, better manage loans and reduce risk. The company’s technologies offer AI-powered optical character recognition, as well as the ability to better validate the identities of applicants through additional online data sources. 

Other developments from Clik2pay

In November 2022, Clik2pay has relaunched its mobile app to allow businesses to save up on their credit card fees. The new version of the Clik2pay mobile app offers an improved user experience as well as a seamless onboarding process that aims to make it easier for small businesses to get paid. The free-to-download app comes with its own registration system, and in order to use it, businesses need to provide banking details for where they want payments deposited. 

In October 2022, Clik2pay has launched a Partner Programme to allow organisations to provide the Clik2pay direct-from-account payment service to their clients. The programme is designed to help payment service providers, independent software vendors, developers and associations offer extra payment solutions to their customers. This could potentially save them costs and allow them to reach more customers by offering a direct-from-account payment option. 

In July 2022, Clik2pay launched flexible and scheduled payment options in a bid to offer Canadian businesses more options when requesting payments from their customers. With Clik2pay Flexible Payments, a business can embed a direct-from-account payment link in a bill or collection notice. The customer can then pay the amount of the bill or edit the payment amount within a custom range provided by the business.

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Keywords: partnership, payment processing, lending, reconciliation
Categories: Banking & Fintech
Companies: Clik2Pay, Inovatec
Countries: Canada
This article is part of category

Banking & Fintech




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