Fire up your favorite search engine and enter “Payment Processing Company.” Google will often return “About 1,000,000,000 results” — in less than one second! No kidding; just try it. The options can be overwhelming. So, how do you find the right payment processing company for your business? The easy answer is to simply click on companies listed atop the search engine results and select the one offering the “best deal.” That route, however, could have a devastating effect on your business. The correct answer is to do your due diligence.
Before beginning your search for a new payment processing partner, it is imperative that you define the needs of your business. Defining your needs sets the baseline requirements for your processing partner. In order to develop a strong partner relationship, and in order to give your business its best chance to flourish, it is imperative that your payment partner meets all of your needs.
Simply put, Payscout is a “Payment Platform Built to Make You More Money.” Our omnichannel solutions allow partners to process more payments, expand acceptance channels, and accept multiple payment methods, doing so in an efficient and secure environment. Payscout allows our partners to cut costs and increase revenue through:
Explore the future of payment security with Payscout as we explore the latest iteration of the Payment Card Industry Data Security Standard (PCI DSS) – version 4.0. Set to be fully enforced by March 31, 2025, this groundbreaking standard addresses emerging risks and ensures the safeguarding of sensitive cardholder information in the ever-evolving landscape of digital transactions.
To account for changes in technology, cyber security, and legal policies, compliance in the collections space is constantly evolving. Collection agencies, like many businesses, rely on a network of technology vendors and systems providers to manage their operations.
One of the most important factors to consider when selecting a payment processor is the banks they are accredited and partnered with. Finding the right payment partner is one thing; making sure it aligns with your business risk and needs is another battle.