Top 20 Payment and Card Solution 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 "20 Most Promising Payment and Card Solution Providers - 2020."

Top Payment and Card Solution Companies

By understanding the unique needs of different verticals, AffiniPay, a financial technology company offers payment processing capabilities that seamlessly work within their existing business workflows and practices. The company’s industry-specific online payment solutions are designed for the legal, accounting, medical, and association industries. AffiniPay enables professionals to offer a seamless experience to their end customers, allowing them to make payments through an easy-to-use platform. AffiniPay also extends support for multiple payment methods such as credit cards, debit cards, and eChecks

HintMD helps aesthetic practices use payment technology to create better outcomes for patients and increase retention for their business. The solution provider has created and developed a solution that allows for easy conversion of payments into dynamic subscription plans, making the treatments more affordable and have it seamlessly fit in their lifestyle. To enroll an individual to a subscription plan, practitioners only need to make minimal entries into HintMD’s payments platform based on which products and services they recommend. Since an aesthetic procedure may require more than one visit and multiple different treatments to ensure results, HintMD enables patients to change or alter their plans based on these requirements.

Payway is a Massachusetts-based company, which is at the forefront innovations in the payment card industry with its highly secure and user-friendly software-as-a-service (SaaS) solution that offers simplified and accelerated transaction processing functionalities for merchants to manage their recurring business model and improve cash flow efficiently. The SaaS-based solution by Payway provides a secure payment gateway that uses tokenization and vault technology, allowing businesses to process transactions, perform account maintenance, and schedule payments cost-effectively with complete transparency. Also, to reduce the interchange rate, Payway offers automated level three processing functions that the Visa and Mastercard require for particular interchange criteria that may reduce a supplier’s fees, often by 30-40 percent

One of North America's leading online rent payment platform that makes collecting rent and property-related fees simple and efficient.As part of its latest enhancements, the Rent Moola platform gives tenants the ability to access a line of credit and for property managers to access working capital for businesses. An industry first, these solutions allow for maximum flexibility with as many choices as possible to provide liquidity to its users. Furthermore, Rent Moola also allows background check and credit check services and credit bureau reporting service along with a host of other features

A Texas-based credit card processing firm, Total Pay delivers a fully integrated, one-stop payment solution that is easy-to-use, stable, and affordable by merchants of all sizes. The firm leverages more than a century of collective experience in the electronic payments business to offer everything from electronic invoicing to eCommerce solutions that make processing credit cards effortless, fast, and frictionless yet safe with its PCI-compliant proprietary platform. For over 18 years now, Total Pay has helped numerous agents, merchants, financial institutions, and their customers securely capture new sales in the ever-changing marketplace

ACI Worldwide

ACI Worldwide

ACI Worldwide, the Universal Payments (UP) company, powers electronic payments for more than 5,100 organizations around the world. More than 1,000 of the largest financial institutions and intermediaries as well as thousands of leading merchants globally rely on ACI to execute $14 trillion each day in payments. In addition, thousands of organizations utilize its electronic bill presentment and payment services. Through its comprehensive suite of software and SaaS-based solutions, ACI delivers real-time, any-to-any payments capabilities and enable the industry’s most complete omni-channel payments experience.

Amaryllis

Amaryllis

With a vision to optimize the complex world of payments between buyers and sellers, Amaryllis has developed a payment engine to support platform models. Built from the ground up, its customized and modular solution solves the unique business needs of each acquirer or 3rd party payment model by providing critical functionality such as: instant boarding, split payments, pay-out management, reconciliation, and more. With an API driven solution and strategic partner focused model, clients can go live in a matter of weeks with little to no CAPEX costs.

BBPOS

BBPOS

Founded in 2008, BBPOS is an mPOS solution provider headquartered in Hong Kong with regional offices in San Jose, Miami, London, Singapore and Shanghai. The business invented the mobile payment audio jack at a time when smart phones were in their infancy. Today, the company is respected as a leading innovator, designer, and manufacturer of end-to-end mobile POS solutions, serving key sectors including mobile merchant, retail, hospitality, delivery, transport and government. BBPOS’s world-class engineering team has developed a family of innovative mPOS devices that deliver quality solutions while implementing the highest security standards. The company’s products are designed with the flexibility to securely manage any transaction, in any environment, anywhere in the world.

Billing Tree

Billing Tree

Billing Tree is unique in both services and approach. The company's business model is specifically designed to develop strategic alliances with service, software, billing, and telephony providers resulting in full integrations, which create seamless, compliant, and innovative payment solutions for the end user. Billing Tree offers unique services including aspects of electronic payment processing and unique payment channels including Credit Card, ACH, Paper Check Conversion, Cash Payments, Mobile Payments, Text Bill Presentment and Payment, e-Signature & Payment, EBPP, Virtual Agent/Debt Negotiator and Electronic Representation (RCK) from a single source. These simply smart payment solutions provide the peace of mind gained from implementing a compliant solution, and ease of use achieved through automation and integration.

BlueSnap

BlueSnap

BlueSnap provides an All-in-one Payment Platform designed to accelerate commerce for B2B and B2C businesses. The company's Platform supports online and mobile sales, marketplaces, subscriptions, invoice payments and manual orders through a virtual terminal. With a single-integration to BlueSnap's Platform one can accept any payment with ease. The Platform includes access to 100 payment types, including popular e-wallets, built-in world class fraud prevention to protect your sales and detailed analytics to help businesses grow. And with integrations to over 100 platforms and shopping carts, one can start processing payments immediately.

EVO Payments, Inc.

EVO Payments, Inc.

EVO Payments, Inc. (NASDAQ: EVOP) is among the largest, fully integrated merchant acquirers and payment processors in the world. EVO is at the forefront of payment technologies that make fast, secure global credit and debit card processing more efficient and cost effective for merchants, ranging from micro-enterprises to multinational companies and financial organizations throughout North America and Europe. With nearly 30 years of payments expertise, EVO supports all major card types in the markets that the company serves.

FLEETCOR

FLEETCOR

FLEETCOR (NYSE: FLT) is a leading Global Business Payments Company. They simplify the way businesses manage and pay their expenses. Their portfolio of brands help companies automate, secure, digitize and control payments to, or on behalf of, their suppliers and employees. They serve businesses, merchants and partners in North America, Latin America, Europe and Asia Pacific. Their strong track record of growth is only possible through our ability to attract and retain extraordinary individuals - individuals who mirror our drive and possess an entrepreneurial spirit

Galileo

Galileo

Galileo powers North America's leading fintechs--including Chime, KOHO, Robinhood, SoFi, Varo and many others--as well as the U.S.-based business of international powerhouses, such as Monzo, Paysafe, Revolut and TransferWise. Galileo established offices in Mexico, where it is certified to support domestic issuers, and is now partnering with Mexican and Latin American fintech leaders. The Galileo's API-based payment processing platform leads the industry with superior fraud detection, security, decision-making analytics and regulatory compliance functionality combined with customized, responsive and flexible programs to accelerate the success of all payments companies and solve tomorrow’s payments challenges today

MSTS

MSTS

MSTS is a global B2B payment and credit solutions provider that specializes in commercial transaction management, facilitating transactions for customers in over 190 countries with 40 years of experience. MSTS helps businesses reach new heights by entering new markets, expanding their footprints, and globalizing their opportunities. Their high-performance culture has been the catalyst for continued success in the ever-changing world of technology. MSTS is disrupting the global credit industry with Credit as a Service; a suite of applications and services that enables companies access to robust payment and credit solutions, sophisticated managed services and expert-driven integrations to power global commerce

PayFlex

PayFlex

PayFlex®, an Aetna company is one of the leading benefit administrators within the Account Based Health Plan sector. Processing over $1 billion dollars annually in Account Based Health Plan claims, PayFlex pioneered the first platform that combines benefit financial accounts, wellness and eligibility management all in one, aptly branded as “HealthHub”. The HealthHub® platform, which houses nearly one million participants and several million eligible lives, combines over two decades of tax-advantaged account administration experience with a suite of wellness and engagement services that is integrated together to form a powerful solution.

Paysafe

Paysafe

Paysafe is a leading global provider of end-to-end payment solutions. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet and online cash solutions. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. With over 20 years of online payment experience, an annualized transactional volume of over US $80 billion in 2017 and approximately 3,000 employees located in 12+ global locations. Paysafe connects businesses and consumers across 200 payment types in over 40 currencies around the world.

Shift4 Payments

Shift4 Payments

Merchant Link is a leading provider of cloud-based payment gateway and data security solutions, removing the risk and hassle of payments for more than 500,000 hotel, restaurant and retail locations. Founded in 1993 and headquartered in Silver Spring, Md., the company currently enables more than 6 billion transactions annually for some of the world's best-known merchants, providing connectivity to the major U.S. payment card processors. The firm’s mission is to develop secure payment solutions that are flexible, customized and evolving to meet merchants’ changing needs and allow them to focus on their core business without worrying about managing cardholder data.

SumUp

SumUp

SumUp is a leading financial technology company, operating across 32 markets on 3 continents. SumUp's proprietary, end-to-end payments platform is the first fully-certified EMV mPOS system in the world to cover the entire payment process: card terminals, Android and iOS mobile apps, a payment processing platform and risk and anti-fraud solutions. SumUp is also the only mPOS provider to design and develop its own EMV card terminals. SumUp is authorised as an Electronic Money Institution by the Financial Conduct Authority (license no. 900700) in the UK and is EMV (Europay, Mastercard, and Visa) and PCI-DSS certified, ensuring that payments are processed in accordance with the highest security standards.

TRG

TRG

TRG is the leading hardware, software, and solutions provider in the mobile computing, barcode and POS / payment processing industries. Based in Westlake, Ohio, TRG provides the most comprehensive suite of products and services across all lifecycle stages and equipment types. From warehouse to register and deployment to retirement, TRG is vendor and solution agnostic, developing tailored solutions that meet each customer’s unique requirements and ultimately increase productivity, extend equipment life and maximize overall ROI. The company's service portfolio includes: repairs (depot or time & materials), staging & configuration, kitting, on-site installation and training, payment terminal key generation & injection, spares pool management, 24x7 help desk support, wireless site surveys, custom software development, seasonal rentals, equipment buy-back and asset disposal.

USA Technologies

USA Technologies

USA Technologies, Inc. is a premier payment technology service provider of integrated cashless and mobile transactions in the self-service retail market. The company also provides a broad line of cashless acceptance technologies including its NFC-ready ePort® G-series, ePort Mobile™ for customers on the go, ePort® Interactive, and QuickConnect, an API Web service for developers. It has 73 United States and foreign patents in force; and has agreements with Verizon, Visa, Chase Paymentech and customers such as Compass, AMI Entertainment and others