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InStor Bill Pay Basics
Typically, the "un-banked" or "under banked" customer purchases money orders to make payments remitted by mail. Instead of purchasing money orders, with this service he can establish an account at a "Pay All Bills Here" pay station and return to the location each time a bill is to be paid. Or, once a payer has an account within the system, he can visit any "Pay All Bills Here" pay station location, anywhere in the country, to make a payment.
Merchant Benefits InStor BillPay is part of the Pay All Bills Here (PABH) newtork and once a consumer is signed up as a registered user they can use the "PABH" features anywhere the signage is posted. InStor BillPay™ Walk-in bill payment solution is a web-based tool that enables your business to act as a walk-in payment station in the "Pay All Bills Here" network. By providing the service, your business will be able to attract new traffic, provide a valued customer service to your existing client base, and generate transactional revenue. Being Internet based, the solution is an easy to use, menu driven application that can be accessed anywhere an Internet connection is available. You will be able to offer electronic payment capabilities to thousands of participating billers worldwide as well as monitor productivity reports for your various regions and locations. The system is very stable and a dependable platform. The point-and-click functionality makes the bill payment process fast and easy, both for existing and new accounts. Most importantly, the user screens are easy to read and understand making the system user friendly for anyone! The InStor BillPay™ Walk-in bill payment solution is a web-based tool that enables your business to act as a walk-in payment station in the "Pay All Bills Here" network. By providing the service, your business will be able to attract new traffic, provide a valued customer service to your existing client base, and generate transactional revenue. Being Internet based, the InStor BillPay™ solution is an easy to use, menu driven application that can be accessed anywhere an Internet connection is available. You will be able to offer electronic payment capabilities to thousands of participating billers worldwide as well as monitor productivity reports for your various regions and locations. InStor BillPay™ is a very stable and dependable platform. The point-and-click functionality makes the bill payment process fast and easy, both for existing and new accounts. Most importantly, the user screens are easy to read and understand making the system user friendly for anyone! |
Compliance for Money Sevice Businesses When retailers are set up payment agent they are considered a Money Services Business as outlined by the Financial Crimes Enforcement Network (FinCEN). As reflected in its name, the Financial Crimes Enforcement Network (FinCEN) is a network, a means of bringing people and information together to fight the complex problem of money laundering. Since its creation in 1990, FinCEN has worked to maximize information sharing among law enforcement agencies and its other partners in the regulatory and financial communities. Working together is critical in succeeding against today's criminals. No organization, no agency, no financial institution can do it alone. Through cooperation and partnerships, FinCEN's network approach encourages cost-effective and efficient measures to combat money laundering domestically and internationally. As an MSB, each payment agent is required to follow these regulatory rules and requirements for accepting money from a customer. Vista Bank, through its partnership with Netcom monitors and manages these relationships to ensure they all meet the required guidelines. Therefore, all employees of each payment agent location that offer these services to customers are compliance trained annually to monitor for Anti-Money Laundering (AML) and Bank Secrecy Act (BSA) violations. Every payment agent employee that is given permission to load cash onto prepaid debit cards or perform money transfers will have completed this compliance training. Our payment agent certification requires the completion of an online training course and test. The online course takes very little time and the brief quiz confirms each employee's understanding of the rules and regulations. EVERY employee must complete this compliance training BEFORE they can accept payments for these two services through our software. |
Netcom is a Registered ESA with American Express
Netcom PaySystems Div. of Netcom Data Southern is a registered ISO/MSP of Citizens Bank N.A.
