REPAY and Lexop Forge Alliance to Enhance Credit Union Payment Solutions

In a bid to revolutionize payment solutions for credit unions, Repay and Lexop have joined forces in a strategic partnership, as stated in Fintech Global News. Repay, renowned for its comprehensive payment solutions, and Lexop, a self-service software catering to credit unions and financial institutions, have united their expertise to optimize the repayment process.

The collaboration aims to streamline collections for credit unions and their members by integrating Repay’s advanced payment technology with Lexop’s collections management software. This synergy is anticipated to enhance member engagement, simplify late payment collection, and notably reduce loan servicing costs.

REPAY is celebrated in the FinTech realm for its tailored payment processing solutions designed for specific industries. The company’s proprietary technology platform ensures seamless electronic transactions, benefiting both consumers and businesses.

Lexop, on the other hand, is a trailblazer in digital payment and collection software solutions, offering advanced automation, data analytics, and an intuitive payment portal. This partnership enables Lexop clients to provide members with an integrated self-service portal, empowered by Repay’s embedded payments technology.

Jake Moore, EVP of Consumer Payments at REPAY, emphasized the significance of multiple payment options in easing the burden of late payments. He stated, «Collecting late payments can be a stressful and challenging operation for both credit unions and their members, especially when members cannot make payments through their preferred channel.»

Lexop’s CEO and Co-Founder, Amir Tajkarimi, expressed pride in empowering credit unions with flexible payment options. He highlighted the focus on members’ well-being during the collection process and the confidence that Repay’s capabilities will enhance customer connections through convenient payment methods.

This partnership signifies a significant step forward in enhancing the efficiency and convenience of payment solutions for credit unions and their members.