TransCentra, a leading provider of billing and payment software and services, recently opened a new lockbox site in the greater Pittsburgh area. The company now operates nine lockbox sites across the U.S.
The Pittsburgh location continues to follow TransCentra's hub-and-spoke operational model, which ensures consistent and efficient processing by connecting this site and the other spokes to a common technology hub. Each site is designed for efficiency and regulatory compliance, only requiring the technology and processes to receive, sort and image material that is sent to a central processing hub for completion.
"Given the mail flow pattern of the U.S. Postal Service and the continuing high number of invoices paid by mailing in paper checks, Pittsburgh is a prime location for TransCentra to expand its national presence with a new lockbox site," said Lynn Boggs, CEO of TransCentra. "While just over 50 percent of business-to-business transactions are still handled through paper checks, we are one of the only providers growing our footprint to help banks, mortgage servicers, healthcare providers, utility and insurance companies by collecting and processing the volume of paper and electronic payments they receive each day. By shifting the work of payment processing to us, our clients improve their internal efficiencies and cost savings, and Pittsburgh now plays a vital role in that equation."
Pittsburgh has boasted 3.4 percent job growth in the last five years despite overall U.S. economic conditions and is poised to become a top metropolitan region for private sector job growth in the next five years. TransCentra occupies 18,000 square feet of an existing building; the former cardboard box factory's smokestack is still in place and holds a designation as a historic city structure.
Boggs added, "Expanding into Pittsburgh enables TransCentra to continue taking on more business and further support our clients with the consistent, reliable payment processing they expect."
TransCentra's wholesale, retail, wholetail and remote lockbox services consolidate paper check and electronic payments into a single data stream for processing, increasing the efficiency and reducing the costs of clients' billing and payments processes. The company also provides a remote deposit capture solution, enabling consumers to deposit checks at any time from a mobile device. In addition to Pittsburgh, TransCentra operates lockbox sites in Los Angeles, Phoenix, Dallas, Louisville, Charlotte, Chicago, Boston, and greater New York City.