Prior to the 2003 launch of Payment Logistics LLC, Dustin and Britton Niglio served the payments industry as merchant level salespeople (MLSs). They spent years searching for, and never finding, a provider who could deliver on the service expectation they'd set for merchants, while also providing a competitive landscape for growing their merchant portfolio. Eventually, the two decided to take on the full liability of becoming a registered merchant acquiring company.
Today, the Niglio's San Diego-based company is processing over $1 billion dollars in revenue, and according to the company's Chief Executive Officer and President, Dustin Niglio, they are expecting triple-digit growth within the next two years. While the company is still rooted in the same high-level merchant service that inspired its inception, it has also striven to become a capable, technology focused merchant acquirer that develops, deploys and maintains cutting-edge payment solutions to address the unique needs of its channel partners and merchant customers.
To accomplish this, Niglio said, "We took it upon ourselves to learn the various prominent POS systems and learn how to perform processing conversions and ongoing support in-house." He noted that the exercise "served as a catalyst to us transforming into an innovative payments technology company."
Payment Logistics is most known for its ability to provide competitive in-house processor conversions and processing support on popular retail and restaurant POS systems. "Our in-house techs will perform the POS processor conversion free of charge and eliminate extraneous third-party fees," said Matt Bruno, Payment Logistics Director of Independent Sales.
He believes this offering has helped set the company apart from its competition, because the easy-to-implement solution enables Payment Logistics to serve retail POS users who were once thought to be the toughest conversion cases in the industry.
These integration services have also enabled Payment Logistics to diversify its sales efforts and evolve from being strictly an independent merchant service provider to also reaching an ever-growing cadre of software integration partners.
Integration projects involve the company's proprietary gateway technology suite, dubbed Paygistix. The platform was developed in-house with the sole intent of efficiently integrating client payment needs with one or more of the gateway's service applications, creating the ability to perform any type of transaction in an encrypted, Payment Application Data Security Standard-free environment.
The Paygistix suite of gateway-enabled products covers everything from traditional terminal-based transactions to the latest in mobile and online commerce transactions.
According to Payment Logistics, once integrated, merchants and their POS providers never have to handle cardholder data or worry about sending data outside of their networks. Instead the POS system tells the Paygistix software or web system what type of transaction is running, for how much, and the system handles the rest.
This also enables POS application developers to add support for Europay/MasterCard/Visa, near field communication, signature capture, PIN debit and other functionality - without writing a single line of code. Payment Logistics just adds the feature and it's done, the company noted.
Payment Logistics is also seeing opportunities arise from the relationship between sales channels. "We encourage agents and ISOs to leverage our technology to form strategic partnerships, and we're finding it to be well received," Niglio said.
The Paygistix technology suite has also proven to be an attractive package for new ISOs and MLSs - especially those seeking an easier way to serve tougher clients, as well as those who want to offer standardized features like nightly batch report emails, real-time batch reviews, day-old historical views, 24/7 smartphone access to data, and more.
"Our agents are able to board more accounts with less cost or interference," Bruno said. He added that ISOs and MLSs are using Paygistix technology to differentiate themselves and add value to clients. "It's tools like this that really can keep the conversation off of price and focused on value," he said.
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