Credit, debit and other electronic payments are extremely popular in the United States. But 3-10 percent of these payments are returned every year due to issues like invalid account numbers. This can end up costing business $195 per return.
One North American communications service provider was experiencing an increase in ACH returns, resulting in higher fees, technician expenses, and higher call volumes. They weren’t able to capture the revenue they needed to, and outbound collection calls only returned half of their money. The provider partnered with CSG to verify payments and decline high-risk ones across any payment channel.