Movers & Shakers: ItsPayd founder wants a mobile billing revolution

Mobile Innovator Profile:
ItsPayd’s Ken Green

Collection agency. Just hearing those words brings thoughts of fear, anger, despair, avoidance, and a whole host of other negative feelings. The collections industry has always had such a negative image, and rightfully so. Even with the use of technology, the business model isn’t much different than it was 40 years ago.

And it seems this negative image will never change, given the recent enforcement actions by the U.S. government against collection agencies, along with an increase in the number of complaints about abusive collection tactics. Yet, the need for collections will continue to exist–because as long as we live in a credit based economy, there will be bad debts.

ItsPayd Founder and CEO Ken Green has been involved in collections for over 20 years. In that time, he witnessed many businesses and individuals turned over to collections unnecessarily. He knew that there was something very wrong with the collections process—especially if no one except agencies benefits when accounts go to collections.

Ken also believes that given the opportunity, most people will pay debts. Though he tried to change this negative perception, he faced resistance even in his own collections company.

Seeking either a new solution or a different change management process, Ken went back to school, enrolled in a Healthcare Information Technology / Management degree program. One evening Ken was watching Charlie Rose interview Cisco CEO John Chambers, who was explaining that within the next few years, most major businesses will be technology companies. Chambers referenced Uber as an example of how tech companies are disrupting businesses and industries as we know it. That’s when the idea of ItsPayd was born for Ken.

Mobile billing to replace collections

Since day one at ItsPayd, it’s been Ken’s vision to leverage mobile billing technology for reducing customer account write-offs, while improving customer experience. The company’s overriding mission is to create a mobile billing and payments system that eliminates the need for collections. Ken has already steered ItsPayd through its first-year startup days into a respected, growing company. And since ItsPayd customers now spend far less time on collections, they can focus on the rest of their business.

See how ItsPayd works—and could work for you.