In our technology oriented business environment of today, a lot of companies regardless of sector, face problems in collections. They often have to collect revenue from customers through different channels such as the web, POS, SMS, mobile apps or even in person but all the different channels are separate from each other and so they have parallel collections. This parallel collection prevents companies from having the full picture of their revenue collecting operations and also facilitates leakages and inefficiency.
Crown Interactive have come up the Unified Collections Gateway which is an enterprise application where different payment channels are aggregated under one system accessible to our clients. It also features a reports dash board that includes all information on the various transactions taking place on the different channels. The Unified Collections Gateway shall be used for both pre-pay and post-pay customers and every collection entry linked to the Billing System.
For subscription based enterprises, the most common problem is the parallel collection gateways for their products and services as the collections for voucher transactions are separate from collections for POS terminals. The UCG is aimed at solving this problem by fusing the collection platforms into one system. It is useful for any company that has multiple channels for collecting revenue including retail (web or brick), utility, telecoms, the public sector, lottery etc.
Vouchers are generated and allocated to Channel Partners. A Channel Partner may be a Bank, Payment Service Provider or Super Dealer who does physical distribution of the vouchers.
Banks & Payment Providers integrating with the UCG will usually have a post-paid relationship with the client; therefore a bill run for reconciliation and financial sweeping to the clients’ bank account must happen daily. Super dealers will usually make significant upfront payments in order to attract various commission structures. On both the post-paid and pre-paid relationship with the Channel Partners, the client immediately begins to enjoy a float because they receive revenue upfront.