Payix, Nortridge partner on online cash payments

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Payments technology company Payix has expanded its partnership with Nortridge Software, which provides tools for lenders and loan servicers.

According to a press release Monday, May 2, the partnership will see Payix provide online cash payment acceptance, known as eCash, to Nortridge customers.

“eCash streamlines payment acceptance by allowing borrowers to make payments on their cash loans at thousands of participating outlets, including major convenience stores, dollar stores, and pharmacies,” the statement said. . “Cash payments are then settled electronically in the system of record to simplify reconciliation and end-to-end payment management from one location.”

The companies said eCash technology will be integrated with the Nortridge Loan Management System (LMS), providing customers with enhanced payment acceptance capabilities, robust reporting, streamlined workflows and easier reconciliation through a real-time integration.

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

Payix was acquired earlier this year by vertically integrated solutions platform REPAY in a deal worth approximately $115 million.

See also: REPAY buys Payix in deal worth up to $115 million

“We are delighted with the acquisition of Payix, a highly complementary business to REPAY,” REPAY CEO John Morris said in a press release at the time. “With its robust and highly flexible technology platform, Payix creates a uniquely positive experience and adds value for both lender and borrower. Payix also has a pipeline and product roadmap strong, which positions it well for 2022 and beyond.

REPAY said in the statement that the purchase strengthens its position “in the large, growing automotive vertical, and accelerates expansion into the attractive buy now, pay later (BNPL) space.”

It also provides a reliable recurring transaction revenue stream, as well as Payix’s proprietary software, depending on the version.

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