How a unified payment platform transforms your payment processing, prevents fraud and grows your bottom line
Your organization’s payment platform includes the payment services you offer to your customers and the payment gateway that processes each payment to transmit the necessary financial data to your bank. Without a unified payment platform in place, your business introduces potential weaknesses that give unintentional access to fraudsters at each connection.
To secure your payment data and the personal and financial data of your customers, it’s necessary to implement a unified payment platform.
A unified payment platform combines the payment gateway and payment processing into a single secure payment platform by one provider. This seals vulnerable access points between gateways and processors while also providing a more cost-effective solution to your payment processing needs.
Traditional merchant services are separated into payment gateways and payment processors. To receive a payment, your customer’s financial data is sent through multiple gateways before finally reaching your bank. Each connection point creates an exposed vulnerability for fraud and puts your business at risk.
The unified payment platform unites these two services to create a single cohesive and secure solution. With FirsTech’s unified payment platform, you receive the additional security benefit of regulatory compliance assessments as a wholly-owned subsidiary of Busey Bank. Their dedication to security employs the most advanced technology to protect your business and your customers with a sustainable long-term solution that keeps your business protected in the modern digital age.
The outdated methods of multiple gateways and processors not only puts sensitive financial data at risk, but also limits your organization’s ability to scale and grow. With a unified payment platform, you can eliminate the common pitfalls of traditional merchant services.
Close the loop between your payment processing and your payment gateway. Multi-point data travel to receive payments creates vulnerabilities along the pipeline and puts both you and your customers at risk.
FirsTech is dedicated to security, employing the help of modern technology to create secure systems and fortify the process further with innovative security measures against the latest fraudulent threats.
FirsTech provides a unique comprehensive solution with security and technology first in mind with full PCI compliance and a commitment to the latest security measures and technologies to keep your financial data safe through secure solutions like data encryption, tokenization and 3D secure.
The simplified and streamlined unified payment platform eliminates all unnecessary communications that can take valuable time from you and your team. Faster transmission through a unified platform provides faster data transmission and faster processing times so you have quicker access to your earnings.
Your patchwork team of merchant service providers can be replaced by a single relationship with a payment partner. You receive the benefits of a simplified payment solution and simplified customer support. The benefits of this simple solution is passed on to your customers as well, securing their personal and financial data as well.
A single unified payment platform streamlines your payment processing and backend processing to manage your payment processing providers. Now your team can save time and resources by managing a single relationship with a payments partner who is dedicated to your financial success.
With traditional merchant services, you may have felt limited in service offerings. This is because gateways and processors required compatibility which rendered some payment service offerings unavailable to you. Now, the unified payment platform makes it simple to add new payment methods or services from a single provider, giving access to more options for you and your team.
Another important element to previously consider for separate payment gateways and processors was reconciliation. Some gateways and acquiring systems don’t partner well and reconcile, leading to discrepancies you need to chase on your own to reconcile. With a unified payment platform, you no longer need to worry about the compatibility between your gateway provider and processor, or looking for corrupt transactions.
Combining your payment gateway service and the acquiring payment services lowers costs of your overall payment services. Because FirsTech operates as both the gateway and the provider, you receive better rates which can be carried to your bottom line.
For nearly forty years, FirsTech has been dedicated to designing payment solutions for businesses like yours. With a dedication to the highest security measures and the most advanced technology, they are a leader and innovator in the payment service industry.
Their maintained compliance and specialization in security helps create solutions designed for the modern era, including their unified payment platform.
To learn more about securing your business, growing your bottom line and streamlining your payment processing with your own unified payment platform, contact a payment solutions specialist today.