Payment processing and collections

Step-by-Step Breakdown

Detailed explanation of each automated stage in the workflow.

1. 1

   Trigger

   Payment request initiated

   Customer attempts to make payment for loan interest, loan redemption, or merchandise purchase at POS or online. System captures payment details and loan/transaction information.

   PawnMasterBravo Pawn Systems
2. 2

   Action

   Validate payment and loan status

   System verifies payment amount against outstanding balance, checks loan maturity dates, and confirms collateral status. Validates customer identity and payment method.

   PawnMasterData Age Business Systems
3. 3

   Decision

   Determine payment processing path

   Routes to appropriate processing based on payment type: loan interest payment, full redemption, partial payment, or merchandise purchase. Checks for overdue status and grace periods.

   PawnMaster
4. 4

   Action

   Process payment transaction

   Executes payment through integrated payment gateway, updates loan balances, and processes any applicable fees. Handles cash, card, or digital payment methods.

   MoneywellBravo Pawn Systems
5. 5

   Action

   Update inventory and compliance records

   Updates collateral status if loan is redeemed, adjusts inventory for merchandise sales, and logs all transactions for regulatory compliance. Triggers collateral release or transfer processes.

   Pawn PartnerData Age Business Systems
6. 6

   Action

   Generate customer communications

   Sends payment confirmation, updated loan statements, or collection notices via SMS/email. Schedules follow-up reminders for upcoming payment dates or overdue accounts.

   PawnMasterMoneywell
7. 7

   Output

   Deliver transaction completion

   Provides customer with receipt, updated loan documentation, or merchandise transfer. Updates financial reporting and triggers any necessary collections workflows for failed payments.

   Bravo Pawn SystemsData Age Business Systems

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