LucentPay Acquires Global Collections Systems
ACA International member focuses on multi-channel offerings for consumers and virtual collection technology.
7/10/2019 7:00 AM
LucentPay, provider of adaptable and ARM-focused payment solutions and ACA International member based in Chandler, Arizona, has acquired Global Collection Systems (GCS), a provider of virtual collection technology.
“This was a natural progression for us with our ongoing focus on ARM and multi-channel offerings for our customers,” Rob Kennedy, founder and CEO at LucentPay, said in a news release. “We’re focused on offering solutions that are not only uniquely tailored to collection agencies, but also proprietary to LucentPay to eliminate unnecessary costs and mark-up in the processing of payments online.”
The acquisition brings together the Virtual Collector® platform with LucentPay’s processing, providing another channel for customers to engage consumers compliantly and effectively.
“Today’s consumer clearly prefers an online experience, and with our new proprietary portal, we offer our agency customers a cost-effective and full-featured online payment solution,” said Michael McDonnell, vice president of sales and marketing at LucentPay. “Our industry will continue to benefit from a payment partner that focuses on profitability in a world of shrinking margins and compliance considerations—and we’re now even better equipped to serve the ARM industry with a multi-channel suite of solutions as we evolve to meet consumer preferences.”
GCS was founded in 2003 by a team with decades of financial industry experience looking to modernize collections.
“GCS’ extensive industry experience and machine-learning expertise has helped to create technology that is based in building new business efficiencies and possibilities,” Caryn Carpenter, founder and CEO for GCS, said in the news release. “We are thrilled to be a part of another ARM-focused partner that understands today’s consumer, today’s compliance, and today’s technology.”
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