Payment service solutions for credit providers

2017-06-23
Payment service solutions for credit providers

As the world continues to be over flooded by the media and the internet, the majority of simple daily life activities like paying rent or phone bills are taken to the web. Mail-in payments and bank deposits are near extinction as payment service providers online continue to grow.

A payment service provider can be defined by the main activity it accomplishes for their clients: taking, transferring and facilitating payments from sources that are not part of the business itself. Payment service providers, as an answer to today’s trends, are based solely on the internet and they give your business the capacity to accept payments from all around the world, from a cellphone to a computer. Many entrepreneurs, business owners and credit providers out there are changing their payment solutions to a direct electronic pay. Because of these benefits they get:

1. Security 

When a transaction between the payer and the receiver is being done, payment service providers are forced to assure the security of this action, which is why every single payment process done through the internet must be encrypted from side to side.

2. Diversity

So, your customer is from other European country and wants to pay using its phone. Or maybe he or she can only pay with debit. None of this is a matter of importance, payment service providers can receive and process direct pay from every source and country while account number is in IBAN format.

3. Support

When you hire an electronic provider of payments, you are not only hiring their software and systems, you are also hiring a complete team of people available to help you and give all the technical support you might need while doing transactions with your customers.

4. Reports

To track your business and its growth it is necessary to have an accounting of all the transactions done in a specific period. This is where your payment provider becomes even more important: depending on the contract you might have, all providers out there will send you monthly and even daily reports from all the transactions and payments received.

5. Growth

Now that you know that you can trust your provider to take care of all payment’s processing, you can focus on handling your business and creating strategies to make it grow even more.

This list can go on and on, the future of today’s payment services is on the internet and on the hands of direct pay service companies. Contact us at Modular SoftSystems to know what other benefits you can get from our services and start growing now.