Alorica expands digital wallet & payment capabilities through partnership with PayNearMe
Images courtesy of the companies.
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On Monday, Alorica announced a new partnership with PayNearMe, integrating the PayXM platform into Alorica Financial’s Systems & Services Technologies (SST) ecosystem.
The companies highlighted the partnership enhances Alorica’s end-to-end loan servicing and collections business by enabling more payment options through seamlessly connected experiences directly within servicing workflows.
Backed by Alorica’s 25 years of experience, executives said SST manages $70 billion in primary and backup portfolio servicing with a 96% client retention rate, and a global infrastructure built to deliver customer‑centric service at scale.
“We continue to invest in best-in-class technology partners that elevate the value we bring to our clients and adapt to our consumers’ changing needs,” Alorica Financial president Jay King said in a news release.
“Payments are a pivotal point in the servicing journey, and integrating PayNearMe into our SST delivery model allows us to offer a more modern, convenient and intelligent payment experience that improves operational efficiency and increases customer satisfaction,” King continued.
Supported by more than 600 loan servicing specialists and 32,000 financial professionals across three continents, SST tries to combine advanced automation, omnichannel customer engagement, and a robust compliance framework so that lenders can deploy modern servicing experiences with speed and confidence.
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The companies said their partnership strengthens the payments component of the offering, giving lenders greater flexibility and convenience at every borrower touchpoint.
Powered by the PayXM platform, SST now supports debit, credit, ACH, cash and leading digital wallets including Apple Pay, Cash App Pay, Venmo, PayPal and Google Pay, while preserving continuity across IVR, digital and live agent environments.
The companies see the result as a smoother and more resilient payment process that reduces friction, safeguards portfolio performance and adapts as payment behaviors evolve.
Alorica selected PayNearMe as its strategic partner to further deliver operational and financial impact, leveraging the company’s payment experience management approach to strengthen payment performance and servicing resilience.
With more than $50 billion in payments processed annually and 20,000 businesses leveraging its platform, PayNearMe brings proven scale and reliability to Alorica’s operations. Together, the companies said they are delivering a more connected, holistic approach to managing the end-to-end payment experience that can help lenders enhance borrower engagement, improve repayment performance and operate more efficiently.
“Managing payments today requires more than just processing transactions. It demands actively orchestrating and improving the entire payment lifecycle,” PayNearMe chief revenue officer Michael Kaplan said in the news release.
“Through payment experience management, lenders can accelerate payments, improve borrower satisfaction and reduce total cost of acceptance, driving stronger financial and customer outcomes,” Kaplan went on to say.