Debt Collection
A modern approach to debt collection services and a reliable claims recovery complement e-payment and risk management of Novalnet AG. Our receivables management service employs a personalized approach and thus obtains a high recovery rate. Moreover, except for legal dunning proceedings, the service is free of charge.
You can prevent high losses from payment defaults using Novalnet receivables management. Nowadays, reliable claims recovery is indispensable for every merchant. From the first reminder to legal dunning proceedings, we will arrange everything to recover the claims from the client.
Debt collection services (optional)
In the event of a payment default, an automatic payment reminder is sent (also, in case of a subscription, the subscription will be automatically paused - see “Suspension/cancellation (pausing) of subscription” chapter). This reminder can be customized (e.g. logo, name, contact information, etc., displayed on the invoice). Payment reminders offer the advantage of end customers being initially charged only for the main claim and chargeback or return debit costs. As soon as the open claim is settled, the subscription will be reactivated again. If the subscription is set for a limited period, it will be extended to the paused time. The pre-defined payment period is 10 days, but to avoid overlaps, we wait another 10 days before forwarding the case to the assigned collection service provider.
Payment reminder email to end customer
This email will be sent to the shopper directly from Novalnet with details about the original transaction and the pending payment. This email can also be customized in your CI and layout.
To activate the Payment reminder email in Novalnet Admin Portal, follow the below steps,
- In Novalnet Admin Portal, navigate to the menu Projects.
- Select the project from the list
- Enable/activate the payment reminder email to the customerin theEmail notifications tab.
- You can also receive a copy of this payment reminder email by entering your email address in the field Payment reminder copy email to merchant.
Payment reminder post to end customer
Automatic payment reminders will be sent by email when a buyer fails to pay on time. However, to avoid those emails ending up in the spam folder or being deleted accidentally, we also generate, print and send reminders by post. You can use the standard Novalnet AG reminder templates (see picture on the right) or customize the reminder according to your corporate identity and specific needs (e.g. logo, address, etc.) In addition, postal reminders are more reliable among those buyers who do not trust email reminders due to an increased number of phishing emails.
Debt collection process through collection agency
This fully automated process at Novalnet is actively offered to all the Novalnet merchants by default. If you wish to cancel or deactivate this process, you should inform the Novalnet support team in written form to support@novalnet.de.
You can also receive a pre-notification email about a forthcoming collection submission 5 days in advance. This can be activated or deactivated in the Novalnet Admin Portal under your project's “Email notifications” section by entering your email address in the “Payment reminder copy email” field. For example, refer to the above screenshot.
Debt collection overview in Novalnet Admin Portal
To get the collection details in Novalnet Admin Portal, follow the below steps,
- In Novalnet Admin Portal, navigate to the menu Dunning & Debt Collection
- You can download all transaction data, including the collection details, directly
