The May 2023 report outlines how relying solely on legacy debt payment methods like ACH and checks increases repayment risk due to delayed fund verification and higher return rates. Debit cards offer real-time authorization, reducing insufficient fund and invalid account issues while lowering operational costs from returned payments. Though slightly more expensive than successful ACH transactions, debit card payments are cheaper and more reliable than returned ACHs, delivering significant cost savings and improved customer satisfaction when integrated into repayment options.

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