Alchemy Pay

Managing payments no longer have to be difficult. We automated NACHA process and have integrated with a variety of payment processors to make this process easy for our lenders.

Our clients no longer have to manually build file and/or move file for their banks to process. We’ve built software to automatically send files to banks or payment processors and process return files automatically as well. Alchemy Pay will interact with the rest of the lending platform to set payment and loan status.

Alchemy Pay Automated Payment Collections and Dispersement

Generally speaking, payment management is one of the biggest pain points with lenders. Orginations and underwriting happen one time, but payments is a recurring issue and could cause a lot of problems if the process is not automated or monitored.

  • Automation – Every payment is scheduled and automatically processed when the payment is due. Whether our client is using NACHA files or API with their payment processor, our Alchemy Pay system can handle the entire repayment process.
  • Monitoring – Payments gets rejected sometimes and if lenders aren’t careful, payment might be missed and loan statuses might be set incorrectly. Alchemy Pay scans through all the payments and updates the payment and loan status automatically so you never miss an opportunity to contact the customer and begin your collections process.

Alchemy Pay is part of the overall Alchemy Lending Platform. Alchemy Pay automates payments for our clients so they don’t have to manually move files. Alchemy Pay’s automatically processes payment returns and set the right payment and loan status.

We work with a variety of payment processors to help our clients to process their payments and repayments. Whether our client is running a prime or a subprime portfolio, we can always find a partner within our network of payment processors to process their payments with ease.

Alchemy Pay can balance your payments with multiple payment processors to balance our client’s risk. We can help our clients to design algorithms to send certain payments with certain characteristics to different payment processors to avoid certain risk with respect to payment bounce rates.

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Timothy Li
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