Actum Processor

Updated 4 months ago by Jackson Stone

Introduction
How Actum Works
- Creating an Actum Processor in LoanPro
- Creating an Actum Processor in Secure Payments
Common Uses & Questions
What's Next?

Complexity:

Audience: Upper Management, Developers, Accounting, Loan Servicing/Collections Managers, Administrator

Introduction

Secure Payments and LMS are integrated with Actum Processing, which allows customers to process Bank Account/ACH transactions, including both payments and funding. Once you have an account with Actum, you can create an Actum processor inside Secure Payments or our loan management system (LMS) to start processing live transactions.

How Actum Works

Like other processors, Actum has to be set up before you can start using it on payments. Reach out to Actum to create an account, and then they'll give you a set of credentials that you can use to create processors in LMS or Secure Payments.

It doesn't really matter whether you create a processor in LMS or Secure Payments; creating it in one software will link it to the other.

Creating an Actum Processor in LoanPro

To create an Actum Processor inside of LMS, navigate to Settings > Company > Merchant > Secure Payments > Bank Account/ACH (USA). Click 'Add Processor', and then select 'Actum' from the Processor Type drop-down.

Give the processor a name. Enter in the ParentID, SubID, and System password which are provided by Actum. The Username and Password are your login credentials to your Actum account. The SFTP credentials are not needed. You can choose your settings which include:

Default – If set to yes, this processor will become your default ACH processor.
Bypass Processing – The processor won't send transaction info to Secure Payments, and money won't be pulled from the borrower's account. This option is ideal for testing within LMS, when you don't want to actually move any money.
Auto Reversal – If set to yes, charged-back payments will automatically be reversed in LoanPro.

Once all the correct and needed information has been entered in, click 'Save'.

Creating an Actum Processor in Secure Payments

You can also create an Actum payment processor within Secure Payments. In Secure Payments, navigate to Processors > Bank Account/ACH (USA). Click the plus button to get started.

Make sure you choose "Actum" from the drop-down. Now you can add your information for Actum, including:

Field	Description
Name	The name of the processor. You can create more than one processor, and this name will help you distinguish this processor from others you may create.
Username	Your username for your Actum account.
Password	Your password for your Actum account.
Parent ID	Provided by Actum.
SFTP Username/Password	Are not needed.
Sub ID	Provided by Actum.
Syspass (System Password)	Provided by Actum.

Once you have entered this information, click 'Save'.

Common Uses & Questions

Here is some information for specific roles within your company.

Loan Servicer or Collector Use

Once a processor is set up, you can select it when logging a payment.

Upper Management Use

As with all the payment processing companies we integrate with, you'll need to get approval from Actum before they let you use their service. This process can take a few weeks, so we recommend starting well in advance of when you plan to start taking payments.

Administrator or Loan Servicing/Collections Managers Use

Just setting up the processor doesn't mean you're payments will start going through it. In the settings when you create the processor, you can set it as a default. Or, if you intend to use multiple processors, we recommend looking into Merchant Processor Groups to organize them and automatically assign payments to the correct processor.

What's Next?

With processors set up, you're reading to start logging payments. If you want to understand the basics, check out Payments 101. If you've got the main ideas down, then see Payments – Intermediate for specific instructions on how to log them.

You might also be interested in setting up Merchant Processor Groups or Payment Defaults.