Industries · Collections

One-time settlements, handled without the account freeze.

One-time settlement payments, FDCPA compliance requirements, and elevated dispute sensitivity. PayWavez underwrites collections businesses individually, so your account is built around how your business actually operates — not a generic template.

Get my collections account reviewed — 2 Minute Approval

No sales call required to apply. Free terminal placement for qualifying merchants.

How it works for collections

Built around how collections businesses actually get paid

How you get paid

Your payment pattern

One-time settlement payments, FDCPA compliance requirements, and elevated dispute sensitivity.

What we look for to get you approved

Key approval factors

Whether you’re a first-party or third-party collector, your FDCPA compliance, and average settlement size.

Application speed

About two minutes to apply

2-Minute Instant Boarding: Move through identity verification and start accepting payments in as little as two minutes.

How self-signup works

From application to accepting payments

Application

Tell us about your collections business — structure, estimated volume, and contact info. Takes about two minutes.

Underwriting Review

We review your business against the specific factors that matter for collections — not a generic checklist.

Approval & Setup

Once approved, your dedicated Merchant ID is issued and your terminal or gateway is configured and ready to take payments.

Have this ready

Documents to have on hand before you apply

Having these ready up front is the single biggest thing you can do to speed up underwriting review.

Business license
FDCPA compliance statement
Collection agency bond if state-required

Locally owned and based in Gulf Shores, Alabama — PayWavez works one-on-one with collections merchants instead of routing you through a call center.

Common questions

Frequently asked questions

How fast is approval?

2-Minute Instant Boarding: Move through identity verification and start accepting payments in as little as two minutes.

Reserve requirements because of a high dispute rate.

Collections accounts carry naturally higher dispute rates than retail, and reserve requirements — when they apply — are sized against that reality rather than treated as a penalty. Clear FDCPA-compliant documentation on every settlement is what keeps reserves reasonable.

Do you surcharge debit cards?

No. Debit is never surcharged. Debit transactions still carry normal processing cost like any other card, but a surcharge is never applied to them.

What is this actually going to cost me?

You get the real quoted rate and the monthly account fee in writing before you sign anything, with interchange and card brand fees shown as their own pass-through line. If a number on your statement is not something we control, we say so rather than folding it into a headline rate.

Do I have to cancel my current processor first?

No. You stay on your current setup until the PayWavez account is live and tested. Nothing about your ability to take payments changes during the switch.

When do funds hit my bank account?

Next-day funding is available on standard accounts, subject to your batch cutoff time and your bank's posting schedule. We will tell you the cutoff that applies to your account so you can plan around it.

Is there a long-term contract or early termination fee?

The term and any termination terms are stated in the agreement you sign, and we walk through them with you before signature. If a hardware program carries a term, that is disclosed at the same time.

What happens if my terminal fails during business hours?

You get a named point of contact rather than a general queue, and replacement hardware ships before the failed unit is sent back so you are not closing the register while you wait.

Get my collections account reviewed

Apply online in about two minutes. No sales call, no obligation.

Apply Now

See every industry PayWavez supports on the Industries directory, including our High-Risk Specialists pages.