Autoscribe: Building a Universal Payment Gateway

CIO VendorEugene O' Rourke, VP of Marketing
Autoscribe, with more than two decades of experience in the financial technology industry, has been playing a crucial role in the ever-changing payment technology landscape with its state-of-the-art electronic payment solutions and financial services. Today, Autoscribe is known as an “industry-leading biller-direct, PCI-certified, electronic payment gateway and routing and account verification provider” that helps thousands of financial institutions, billers, and processors. With a complete suite of tools offered through its divisions—Payment Vision and Lyons Commercial Data—the company helps customers grow their business, simplify payment processing, mitigate risks, and ensure compliance. “Our mission has always been to empower provide customers with better financial solutions,” notes Eugene O'Rourke, VP-Marketing, Autoscribe. Leading organizations such as PRA Group, UGI Utilities, Badcock Furniture, Tracir Financial, and Republic Finance rely on Autoscribe to securely service their complex payment and risk management needs.

Over the years, Autoscribe has revolutionized how companies bill and collect payments through the PaymentVision brand which allows clients to accept all forms of payment on any payment channel. Having a number of integrations with leading billing, collections, finance, and loan management software systems, PaymentVision provides clients a seamless payment processing experience across all channels and methods of payment. Clients can integrate the solution with their ACH settlement processors to access their funds from existing bank relationships. “We have reduced the number of disparate systems or integrations needed by merchants for payment processing, centralizing their payment processing, settlement, and streamlining their back office operations,” states O'Rourke.
Through PaymentVision, clients can offer their consumers a myriad of payment options for convenience and accessibility while enabling merchants and billers to process payments across all payment channels—online, mobile, automated phone (IVR), agent-assisted. “Our solution enables merchants to centralize all payment related activities such as account research, risk management, and real-time reporting within a single administrative portal,” asserts O'Rourke. All of these processes are built in a secure environment that goes above and beyond industry security standards and guidelines including encryption, PCI-DSS Level 1 certification, SSAE 16 and tokenization. Moreover, under the card processing services, Autoscribe automatically qualifies merchants for the lowest possible interchange rates based on each transaction processed. “We ensure that any discounted interchange programs such as the utility and debt repayment program or discounts provided by our total processing volume are fully utilized when possible by our clients.”

On the other hand, Autoscribe’s Lyons Commercial Data brand is responsible for fortifying transaction processing with quality financial institution data including bank routing numbers and other critical information. The data services provide cost-effective and reliable compliance support for ACH and check routing verification, bank account verification, OFAC, anti-money laundering, and Know Your Customer efforts. Built on their PCI-DSS certified platform, Lyons Commercial Data also ensures data security. The Lyons Commercial Data database is actively managed with a dedicated content management team that evaluates and updates financial institution records on a daily basis for accurate domestic financial institution data. “Every transaction is verified through the Lyons Commercial Data ABA database which is updated daily to ensure recent, accurate, and reliable data,” says O'Rourke.

Additionally, with the company’s risk management services, customers can gain access to an extensive, online, cloud-based library of payment processing rules and apply these rules to all payments. Autoscribe will continue to improve the consumer experience, personalization streamline payment processing, reduce points of friction, and more efficiently manage risks and compliance. “We will continue to deliver new and innovative solutions to the ever changing financial services markets,” O'Rourke concludes.