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Configuring payment plans for collections

Updated on May 19, 2021

Configure debt repayment program to help your customers in collections pay off their debt easily by creating a payment plan with payment reminders for a selected group of customers.

Before you begin: The following properties are required to be present in Top level SR class to contain payment related properties and should be added to the PayOffDebt decision data rule:

List of SR properties

Property nameDescriptionRequired
NumberOfPaymentsPayment number
FrequencyFrequency of payments (for example: weekly, once, biweekly)
AmountCalculated amount to be paid
CommissionPercentageCommission percentage for the agent
StartDateStart day of the paymentOptional
DaysToStartDateNumber of days to the start date of the paymentOptional
  1. Create a payment plan for payment reminders.

    Payment plan action holds various details that can be used by the Next-Best-Action strategy for making decision.
  2. Create payment plan message treatments across different channels.

    A treatment is the definition of the content that is delivered to a customer as part of an action over a specific communication channel.
  3. Configure an engagement policy.

    Engagement policies are a set of business rules and practices used by the organization to determine which customers are eligible customers for which next best actions.
  4. Configure Action flow design.

Configuring payment plans

Do the following steps to create a payment plan under the Pay Off Debt group:

  1. In the Collections list, select PayOffDebt, and then click EditCreate Action.

  2. In the Create Action window under the Accounts context, in the action title field, enter Two equal payments, and then click Create and open.

  3. Capture Description, Keycode and any other relevant fields.

  4. Go to Engagement policy tab and configure the implementation preference, for example, Account -“Has Active Payment Plans” is not equal to “True” and Account- “is in Collection” is equal to “True”.

    Note: xCAR data model includes relevant properties for supporting Collections decisioning if you need any additional properties then you need to add them in your imp classes.
  5. Ensure that the actions corresponding to payment plans have their Applicability set to check container name in order to restrict Actions being available for the top level container, NextBestAction.

  6. On the Treatments tab, click on Add channel.

  7. Add Agent assisted Inbound channel treatment.

    Example of a When rule used to determine Applicability
    Example of a When rule used to determine Applicability

Calculation of dynamically paid amount

Extension strategy, NBA_Collections_PayOffDebt_Account_Ext can be modified to incorporate a custom logic for calculating the amount to be paid. You can also use this extension for updating any other custom logic needed for implementation.

Custom logic for calculating amount to be paid dynamically
Expression builder window showing an example of a custom logic for
                        calculating dynamically paid amounts.

Additional properties in real time container response

pyDefaultWorkingSet data transform can be saved into the implementation layer. This data transform includes all the properties included in the real time container data flow. Any additional properties to be included in REST service output should be present here. In addition to this, properties also need to be added in TransfromSROutput data transform.

  • Previous topic Recommending payment plans
  • Next topic Prioritizing debt collection actions to achieve your debt collection goals

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