In the News

North Bay Business Journal 02/11/08

CrossCheck to Offer Debt Collections

Rohnert Park check-guarantee provider CrossCheck Inc. is expanding in the payment services market with a new debt collection business, Optio Solutions LLC.

Optio charges flat fees – $5.25 to $12.25 for written requests, more for phone calls – to collect overdue bills on behalf of companies. It has an online portal that clients can use to track payments.

The company is hoping to cash in on growing economic uncertainty, which may lead companies to focus more on their accounts receivable, according to Optio’s President and CEO Chris Schumacher.

“We’ve started to find that the public is getting concerned about where the country is headed from a recession point of view,” said Mr. Schumacher, who is also chief operating officer of CrossCheck.

Launched last year as a wholly owned subsidiary of CrossCheck, Optio is expected to grow from seven employees to 25 by the end of the year.

Mr. Schumacher said Optio is targeting companies that want to collect payments without ruining relationships with customers.

“What we’re trying to do is do it with a more diplomatic approach,” Mr. Schumacher said.

Optio also hopes to differentiate itself with its flat fees, a contrast with agencies that take a percentage of debts collected, according to Mr. Schumacher.