Payliance is a well-known fintech firm that focuses on providing payment processing solutions designed for different sectors like lending, collections, e-commerce, and gaming. Founded in 2007, Payliance has earned a strong reputation for providing complete payment solutions tailored to the unique requirements of its customers. The company handles more than 4.5 million transactions every month, showcasing its expertise and dependability in the payment processing sector. Payliance offers ACH processing, credit and debit card processing, eCheck processing, and real-time payments to aid businesses in optimizing payment procedures, reducing expenses, and managing fraud threats.
John Cullen and Steve Valachovic established Payliance in 2007. The company was founded to meet the increasing need for tailored payment processing solutions in heavily regulated sectors. Over time, Payliance has grown its range of services and customer portfolio, becoming a reliable ally for companies in need of effective and safe payment processing options.
Payliance is headquartered in Columbus, Ohio. The central location allows the company to effectively serve clients across the United States, providing robust support and timely services. Based on the most recent information available, Payliance has around 71 staff members, representing a medium-sized business equipped to provide customized services while upholding efficiency in operations. The company employs a variety of professionals, such as compliance experts, payment processing specialists, and customer service representatives.
Payliance functions in the financial software sector, offering various payment processing solutions aimed at improving transaction efficiency and security. The company’s strong skills in ACH processing, real-time payments, and verification services make it a significant player in fintech, especially for businesses in lending and e-commerce industries.
Payliance provides a wide range of payment processing services designed to meet the diverse needs of its clients. Here is a detailed look at their key services:
ACH (Automated Clearing House) payments are a cornerstone of Payliance’s offerings, allowing businesses to transfer funds directly between bank accounts efficiently and cost-effectively. The benefits include lower processing fees compared to credit card transactions and faster processing times, with options for same-day or next-day settlements. Payliance supports batch transfers and offers API integrations, making it easy for businesses to automate and streamline their payment processes. Additionally, Payliance facilitates transactions on weekends and holidays, ensuring uninterrupted service for clients.
Efficient processing of debit and credit cards is essential in a society that is becoming more reliant on electronic payments. Payliance provides strong solutions, including instant authorization, to minimize the chance of fraudulent transactions. Their online merchant portal offers live transaction reports, helping businesses manage their finances efficiently. The automated card account updater prevents disruptions in recurring payments, enhancing customer satisfaction and decreasing churn.
Payliance’s real-time processing capabilities are particularly beneficial for the lending industry. They enable instant fund transfers and loan repayments via debit cards, enhancing customer experience by providing immediate access to funds. This feature helps lenders build trust with their clients and streamline their operations.
Payliance simplifies the check handling process with RCC (Remotely Created Checks) and check conversion services. eCheck processing eliminates the need for physical checks, reducing handling time and costs. This service converts paper checks into electronic transactions, making the process faster and more secure.
Targeting industries with elevated levels of risk, such as online gambling, Payliance provides specialized processing services that come equipped with advanced security features and fraud detection methods. These actions reduce the dangers linked to high-risk transactions and guarantee adherence to industry regulations.
Payliance transforms any device into a virtual payment terminal, allowing merchants to process payments securely from any location. This flexibility is ideal for businesses operating in various environments, from retail stores to outdoor markets, ensuring they can accept payments wherever their customers are.
Payliance places a strong emphasis on security to protect its clients’ sensitive information and ensure safe transactions. Here’s an overview of their key security features:
SSL Certification and Cybersecurity Measures: Payliance uses SSL (Secure Socket Layer) certification to secure the transmission of data between their servers and clients. This encryption protocol ensures that all data exchanged remains confidential and protected from interception by malicious entities. Their cybersecurity measures extend beyond SSL, employing advanced cloud-based solutions to safeguard their networks from online threats. This comprehensive approach to cybersecurity helps maintain the integrity and confidentiality of customer data.
Tokenization of Sensitive Information: Payliance uses tokenization to increase security for sensitive cardholder data. This procedure entails substituting confidential information with a distinct identifier or token that is incapable of accessing the original data without a particular key. This implies that if the data is captured, it is impossible to utilize it for deceitful intentions. Tokenization plays a crucial role in minimizing the likelihood of data breaches and supporting businesses in meeting industry standards like PCI-DSS (Payment Card Industry Data Security Standard).
Secure Virtual Terminal and Gateway: Payliance provides a secure virtual terminal and gateway, ensuring that all transactions processed through their platform are protected. The virtual terminal allows merchants to process payments securely from any location, while the gateway facilitates safe online transactions. Both the terminal and gateway incorporate encryption and tokenization technologies, providing an additional layer of security. These features ensure that sensitive information is protected during transmission and storage, minimizing the risk of fraud.
When it comes to contract terms and pricing, Payliance is not very forthcoming with detailed information on their website or other publicly available resources. This lack of transparency means that potential clients must contact Payliance directly to receive specific quotes tailored to their business needs. This approach allows Payliance to provide customized pricing based on the unique requirements and transaction volumes of each merchant, but it also raises several concerns.
Lack of Publicly Available Information on Fees and Contracts: One of the primary challenges that potential customers encounter is the lack of comprehensive details regarding fees and contract terms available on Payliance’s website. It becomes challenging for businesses to evaluate Payliance’s services against those of other payment processors without engaging in direct communication. Businesses seeking clear pricing information may find a significant disadvantage in the lack of transparency.
Need for Merchants to Contact Payliance Directly for Quotes: To understand the cost structure and contract specifics, merchants must engage with Payliance’s sales team. While this allows for personalized service and potentially more accurate pricing, it can also be time-consuming and may deter businesses that prefer easily accessible information. The requirement to contact the company directly can also make it challenging to anticipate total costs and budget accordingly.
Potential Concerns About Hidden Fees and Contract Length: Given the lack of upfront information, there are potential concerns about hidden fees and the length of contracts. Some reviews and customer feedback suggest that merchants have encountered unexpected charges and long-term commitments that were not initially apparent. This can create apprehension among potential clients who are wary of undisclosed costs that could impact their financial planning.
Payliance provides several customer service channels, including phone support and email, to assist its clients. The company’s contact options aim to offer prompt and comprehensive support, ensuring that merchants can resolve issues swiftly. Despite these channels, customer feedback suggests that the quality of support may vary.
Overview of Customer Service Channels: Payliance provides customer assistance through several different channels. Customers are able to contact us by phone or email for help with their payment processing requirements. These channels are intended to offer immediate assistance and resolve any issues merchants may have about their accounts or transactions.
Common Complaints from Customers: Several common complaints have been raised by Payliance users. These include claims of harassment by the company’s debt collection services and erroneous charges that customers insist they did not authorize. Such issues have led to frustration among users, with many expressing dissatisfaction over their experiences. Some merchants have reported difficulties in reaching support representatives or getting timely resolutions to their problems.
BBB Rating and Customer Reviews: Payliance holds an A+ rating from the Better Business Bureau (BBB), indicating a generally positive standing in terms of business practices. However, customer reviews on the BBB website tell a different story, with an average rating of one star based on 14 reviews. These reviews often cite poor customer service, unexpected fees, and unresolved billing issues as significant concerns. Despite the high BBB rating, the disparity between the rating and customer satisfaction highlights areas needing improvement.
Company’s Response to Complaints: Upon receiving feedback, Payliance has taken steps to attend to and solve problems. Usually, the company addresses BBB complaints by clarifying their actions and providing resolutions to the impacted customers. The efficacy of these solutions varies, with some customers feeling that their problems are still not fixed. Taking a proactive stance towards addressing complaints is a good indicator, however, the key to improving customer satisfaction lies in the consistency and quality of resolving issues.
In summary, while Payliance provides multiple customer support channels and holds a strong BBB rating, common complaints and customer reviews indicate areas where the company could improve its support and service quality.
Payliance is designed with user experience and merchant ease of use in mind, providing a seamless interface for managing payment processes.
Ease of Use for Merchants: Merchants find Payliance’s system intuitive and straightforward, which simplifies the complexities of payment processing. The user-friendly design allows businesses to quickly navigate through various features without needing extensive technical knowledge. This ease of use is particularly beneficial for small and medium-sized enterprises that may lack dedicated IT support.
Features of the Web-Based Merchant Portal: The web-based merchant portal is a standout feature of Payliance, offering comprehensive tools for transaction management. Merchants can access a dashboard that displays real-time transaction data, enabling them to monitor and manage their financial activities efficiently. The portal is designed to be accessible from any device, providing flexibility for business owners who need to manage transactions on the go.
Real-Time Reporting and Transaction Management Tools: Real-time reporting is an essential function that enables merchants to continuously monitor their financial status. Payliance’s tools for managing transactions offer in-depth reports on transaction history, assisting businesses in monitoring sales, refunds, and chargebacks. This feature assists not just with financial reconciliation, but also with quickly identifying and resolving problems. Furthermore, the website provides features for establishing regular payments and handling customer details, ultimately improving the user interface.
Payliance operates in a competitive market, offering payment processing solutions alongside well-known industry players like Hyperwallet Systems, Wibmo, ProPay, TrustCommerce, and PPRO. Each of these companies brings unique strengths to the table, and understanding these can help in assessing where Payliance stands.
Hyperwallet Systems specializes in payout platforms for marketplace and e-commerce businesses, offering integrated payee verification and cross-border payments. Hyperwallet’s comprehensive payout solutions make it a strong competitor in the global payments market.
Wibmo focuses on payment security, risk management, and digital payment solutions for banks and merchants. Known for its robust fraud prevention and authentication services, Wibmo is a key player in secure digital transactions.
ProPay offers versatile credit card processing services, particularly for small businesses and direct sellers. Their mobile payment solutions and integration capabilities provide flexibility and convenience for various business models.
TrustCommerce emphasizes secure and reliable payment processing solutions with a strong focus on compliance and fraud prevention. Their services cater to a wide range of industries, ensuring safe and efficient transactions.
PPRO provides digital payment solutions, including credit card processing, alternative payments, and e-wallets. PPRO’s extensive reach and integration options make it a preferred choice for businesses looking to scale their local payment services globally.
Payliance stands out with its customized payment processing solutions specifically created for industries with high levels of risk, including online gambling and lending. Businesses in need of secure and dependable payment methods can benefit greatly from the strong ACH processing features, instant payment choices, and thorough eCheck and check conversion services provided by them.
Payliance stands out with its ability to handle high-risk transactions and provide specialized solutions for lending and collections. Their security features, including SSL certification and tokenization, ensure data protection and compliance with industry standards. However, Payliance’s lack of transparency regarding contract terms and pricing can be a drawback for potential clients who prefer upfront information. Additionally, mixed customer reviews, particularly regarding customer support and hidden fees, highlight areas where Payliance could improve.
In summary, Payliance competes well with other major players in the payment processing industry by offering tailored solutions and robust security features, though there are areas for improvement in transparency and customer satisfaction.
Payliance offers several advantages and some drawbacks for businesses considering their payment processing services. Here is a balanced view of their pros and cons:
Comprehensive Range of Payment Solutions: Payliance provides a diverse array of payment solutions, including ACH processing, debit and credit card processing, eCheck, and check conversion services. This variety ensures that businesses can find the right solution to meet their specific payment processing needs, whether it’s for everyday transactions or more complex financial operations.
Real-Time Processing and High-Risk Merchant Services: The standout feature of Payliance is its real-time processing capabilities, which are particularly beneficial for the lending sector. Improving customer satisfaction and efficiency is accomplished by making immediate fund transfers and loan payments with debit cards. Additionally, Payliance separates itself from competing companies by its willingness to partner with high-risk merchants, including online gambling businesses that other companies might steer clear of.
Strong Security Measures: Payliance prioritizes security, employing robust measures like SSL certification, tokenization of sensitive information, and secure virtual terminals and gateways. These features help protect merchants and their customers from data breaches and fraud, ensuring transactions are safe and compliant with industry standards.
Lack of Transparency in Pricing and Contract Terms: A significant downside of Payliance is the lack of publicly available information regarding their pricing and contract terms. Prospective clients must contact the company directly to obtain quotes, which can be time-consuming and make it difficult to compare Payliance with other service providers easily.
Mixed Customer Reviews and Complaints About Service Quality: Customer opinions on Payliance are varied, with numerous grievances regarding the quality of service, such as problems with customer assistance and unanticipated fees. Even though the company has an A+ rating from the Better Business Bureau, the average customer rating is significantly lower, suggesting that some users are not satisfied..
Limited Publicly Available Information: There is limited publicly available information on Payliance’s full range of services, contract specifics, and pricing. This lack of transparency can be a deterrent for potential clients who prefer to have detailed information upfront before making a decision.
What types of businesses does Payliance serve?
Payliance serves a wide range of businesses, including retail, lending, and high-risk industries such as online gambling.
How secure is Payliance’s payment processing?
Payliance uses strong security measures such as SSL certification, tokenization of sensitive data, and secure virtual terminals to prevent fraud and data breaches.
How can I get a quote for Payliance’s services?
To get a quote, businesses need to contact Payliance directly through their website or customer service. Quotes are personalized based on the specific needs and services required by the business.
To conclude, Payliance provides a wide variety of secure payment options, such as instant processing and services for merchants with higher risk levels. Nonetheless, it has inconsistent customer reviews and a lack of transparency in pricing. All in all, it is a dependable choice for companies in need of strong payment processing, but interested individuals should contact them directly for specific terms.