Three top 10 U.S. card issuers have agreed to use collections services from Online Resources Corp. of Chantilly, Va.
Online Resources said Monday that the three issuers (which it did not name) have signed contracts or started using its Virtual Collection Agent service within the last 90 days.
The collections service has reduced chargeoffs at other users by at least 10%, Online Resources said.
"We are confident we can show very positive results," Robert R. Craig, an Online Resources executive vice president and the general manager for its e-commerce services unit, said in a press release. "During these tough economic times, the Virtual Collection Agent's private, non-confrontational nature is particularly valuable to give consumers options in dealing with delinquencies they may never have had to face before."
