Top 10 Payment and Card Consulting/Services Companies - 2020

Digital wallets and code-based transactions have revolutionized the payment landscape with significant impacts, such as simplifying the payment process, bringing down the operational costs, and augmenting the user experience. These innovations also play a crucial role amidst the COVID-19 pandemic, which has heightened the inhibition towards physical contact and has necessitated the usage of contactless payments. On the other hand, the pacing up the culture of contactless payments has not replaced credit cards; rather, it has enhanced or supplemented credit card usage. On the other hand, what gets replaced is the conventional physical wallet that’s meant to hold debit cards, credit cards, reward cards, and more, been taken over by smartphones with wallet apps installed. The wallet apps on phones detect the default credit card for the payment and complete the transaction at a great pace.

Having made the transaction process extremely effortless for the customers through digitalization, enormous amounts of customer data is pouring in every passing moment. This data could be dangerous without an appropriate security setup that could detect the possible fraudulent transaction within seconds. To achieve this sort of security, the payment, and card sector uses ML technology, which sends the user a text alert inquiring if the transaction is authentic, thereby resolving the issue of fraud at the earliest.

With such minuscule details to be addressed in numerous directions as technology, data management, security, and so on, it is natural for the payment and card companies to get lost in the long list of partners to join hands with. To assist and provide a clear perspective, our distinguished panel, comprising prominent CIOs, CEOs, analysts, and experts, collaborated with the editorial board of CIOReview and has shortlisted some of the most effective solution and service providers in the payment and card industry.

In this Payment and Card edition of CIOReview, we present to you "10 Most Promising Payment and Card Consulting/Service Providers - 2020."

Top Payment and Card Consulting/Services Companies

Green Payment Processing, offers a unique method of processing payments through e-checks with unmatched security and processing time. Green Payment Processing enables a merchant to receive a customer’s check information from a gateway or through a website or an e-commerce shopping cart. Then the check is verified and an image of the check is created before the payment is processed directly into a merchant’s bank account. Green Payment Processing provides merchants the ability to process transactions according to their requirements. With the company’s full-service API, merchants can process checks directly from their system or smartphone application

A leading provider of payment services, MSP Consulting offers decades of experience guiding businesses through the complexities of card processing, payment systems technology, mobile payments, and accounting. MSP offers Advantage, a unique proprietary solution designed to both reduce the cost and improve service and support associated with accepting credit cards and other non-cash payments. MSP analyses a client’s business needs, specific requirements, current payment acceptance methods, and merchant service solutions to identify areas of over-payment and risk, opportunities for process and technology improvements.

NewNet Communication Technologies is a leading provider of innovative solutions for contact centers, next generation mobile and fixed line networks, and secure payment transaction process. NewNet enables global telecom operators, equipment manufacturers, acquirers, processors, and financial institutions and enterprises to rapidly develop and deploy cutting-edge revenue generating applications that deliver feature-rich, value added services. NewNet offers solutions within two major areas–Secure Transaction Transport and WiMax Wireless Broadband Communication. NewNet Secure Transaction solutions is extensively used by any organization involved in the processing of payments from Point of Sale (POS) systems, mobile payments, and others. NewNet WiMax is used by telecommunication carriers, Wireless ISPs, Smart Grid, and rural/underserved regional providers to deliver services such as high-speed Internet, IP telephony, Wi-Fi offload, and smart meter service

Payzer Provides a mobile, all-in-one financial tool that helps clients process cards, checks, and recurring payments with instant, paperless financing. Payzer help clients grow and increase sales by enabling them to make payments in the field or online using a mobile app, card reader, or online payment applications. With real-time transaction tracking, the tool provides administrative controls, where users can get details about transaction histories, email payment requests, and access customer details. Payzer’s solution is not limited to payment processing and offers a plethora of features such as dispatch, customer management, invoicing, sales proposals, maintenance plans, and reporting. Scheduling is made intuitive with a simple drag and drop feature to establish dispatch groups that fit requirements.

Durango Merchant Services

Durango Merchant Services

Durango Merchant Services are a world leading consultant group for hard to place and low risk merchant accounts. The company specializes in merchants looking for a service above the normal offerings from traditional merchant service providers. With over 11,000 low risk and hard-to-place merchants and counting, Durango Merchant Services has emerged as one of the eminent high risk payment processing providers in the market. The company specializes in standard and high risk merchant accounts and helps customers with their business processes and payments. Having a comprehensive suite of tools and almost two decades of experience, Durango Merchant Services solves the hassles and complexities of its customers’ financial operations.

Electronic Merchant Systems

Electronic Merchant Systems

Electronic Merchant Systems (EMS) is a leading provider of payment processing and merchant services. Since its inception in 1988, EMS has been helping business owners realize their full potential and grow their financial well-being. EMS is driven by the mission to be the industry-leading merchant services provider that empowers merchants to increase their financial well-being. With its innovative suite of business solutions, high-quality service, and professional, dedicated employees, EMS is determined to change the industry narrative. Headquartered in Cleveland, Ohio, EMS has expanded its focus to offer a variety of eCommerce and mobile payment solutions so that merchants can benefit from the continually evolving customer landscape.

Interchange Pros

Interchange Pros

Interchange Pros is a Better Business Bureau A+ rated company that provides innovative business-to-business (B2B), business-to-government (B2G), and card-not-present (CNP) payment solutions to a wide range of industries. The company’s solutions are designed to improve cash flow, reduce credit card transaction complexity, and optimize interchange rates. The Interchange Pro system automatically and securely provides transaction-level line-item details to reduce costs associated with processing credit cards requiring no additional data entry. It serves small, midsize, and large businesses, government agencies, and municipalities with card-not-present (CNP) credit card transaction volumes ranging from a few transactions per month to over 100,000 per month.

Merchant Advocate

Merchant Advocate

Merchant Advocate is an expert in deciphering the landscape, educating their clients and exposing hidden fees. They help merchants save money from the extremely unregulated credit card industry without having to switch processors. Merchant Advocate understands the processing industry and can help businesses get the best rates and fees. They help merchants to save money from the extremely unregulated credit card industry without having to switch processors. There are no upfront costs for their services and they are paid out of the savings they achieve for people, recovering revenue that would otherwise be lost.

PWU Enterprise

PWU Enterprise

The Company offers the very best services in their field. They never settle for second best, and always have your satisfaction as their top priority. Increase revenue and decrease expenses all their services. They have the tools you need for your business. With their Credit Card Processing, Business Loans, Cash Advance, ATM Machines, Marketing and Printing Solutions your business wont need to go anywhere else. They also provide on-site support to small businesses.

Southern Merchant Services

Southern Merchant Services

The company provides a great service at the lowest price. Southern Merchant Services is owned by Steven Carter who is committed to helping members run their business better. Since 2010, Southern Merchant Services has been providing unparalleled personal support, seamless technology, and the lowest rates in the industry. They offer the most dynamic and current merchant processing solutions available, from standard terminals to the most sophisticated software. Their team stays on the cutting-edge of industry advancements to offer our members the latest in security and convenience for payment processing, including both terminal and mobile solutions