LEVERAGE Payment Solutions is thrilled to announce a new partnership with CheckAlt to provide LoanPay, a secure online payment app which offers simple integration, configurable features, and flexible payments to assist our credit unions in providing an excellent member experience during the loan payment process.

“LoanPay will enable our credit unions to accept loan, mortgage, and credit card payments through a fully-hosted web platform, creating a more efficient processing option and in turn, increasing customer satisfaction,” stated Steve Willis, President of LEVERAGE. “As credit unions continue to adapt to a world in which many things have moved online, it is of utmost importance that they have the means to serve their customers. This new partnership provides customers with the opportunity to pay loans online from the comfort and safety of their homes.”

API capabilities between LoanPay and your credit union core systems streamline the processing of loan payments from consumers and the settling of funds at the credit union into a one-stop shop for payment processing. This closes the gap left by potentially fragmented payments. This highly accessible portal provides consumers with the ability to make payments safely, securely, and remotely.

LoanPay’s internal options allow consumers to select the payment schedule that works best for them and issues regular communication to the user to ensure he or she is fully aware of any changes or transactions made to the account, offering a seamless, transparent process for users and admin alike.

In addition, LoanPay will soon offer interactive voice response payments via phone, allowing loan payments to be made from anywhere at any time. Configurable messaging, language options, and instant updates on recent payments or outstanding balances increases the usability of the app and cuts time previously spent waiting for information.

“CheckAlt has a proven record of success as it relates to payment processing. In 2020 alone, CheckAlt processed more than 72 million items with a value of more than $32 billion. At LEVERAGE Payment Solutions, we prioritize offering our members the best possible products at affordable rates. This collaboration will continue that mission, and we are excited to offer these new loan payment options for our credit unions,” concluded Willis.

CheckAlt provides paper and digital payment processing for hundreds of financial institutions across the country and has more than 20 years of experience as a payment processor.