Valor PayTech was formed in 2019 by payments industry executives who wanted to take legacy POS terminals and merchant services to a whole new level. With that in mind, they tasked themselves with creating an agile, next-generation omnichannel processing platform. Headquartered in Uniondale, N.Y., the company now employs 150 global team members, led by Eric Bernstein, who serves as chief operations officer, and executive board members O.B. Rawls IV, Rajil Vohra and Leo Vartanov.
Gene Schenberg, vice president of sales at Valor PayTech, summarized Valor PayTech's core values as doing the right thing and putting partners first. "We strive every day to provide solid, simple solutions quickly for our partners that make their lives, and the lives of their merchants, easier and less complicated," he said.
Schenberg said business owners can find everything they need using a single sign-on at Valor PayTech. The cloud-based, omnichannel platform supports a full range of processing functionality, including card-present and card-not-present transactions, tip adjustments, voids, refunds, loyalty and chargebacks, he noted. In addition, merchants can build reward and loyalty programs using the Engage My Customer tool.
Valor PayTech supports iOS, Android and Linux countertop, virtual, and wireless terminals, all continuously updated and backed by exceptional support, Schenberg stated, adding that advanced capabilities include mobile apps, dual pricing models, recurring payments, hosted payment pages, QR codes and text-to-pay payment methods.
Schenberg pointed out that cloud-based technology reduces a merchant's total cost of ownership for POS equipment. In addition, Valor PayTech provides merchants with a two-year hardware warranty that includes full equipment replacement, which he noted, is double the industry standard.
Valor PayTech is committed to the success of ISOs, and the company's tools are designed to meet the ever-changing payments ecosystem, Schenberg stated. He also noted that the company's solutions can accommodate multiple MIDs and merchant environments. Schenberg went on to say that Valor PayTech is processor agnostic and extremely nimble when it comes to remote account set-ups and support and custom integrations. Valor Connect API integrations are easy, and software developer support teams react quickly to inquiries and enhancement and update requests, he noted, adding that the company's POS inventory is well-stocked with no crazy wait times due to chip shortages or supply chain disruptions.
Schenberg emphasized that ISOs and merchant level salespeople (MLSs) can use Valor PayTech to manage merchant accounts from anywhere, enabling functions such as automatically building a customer database and storing receipts and signatures for up to two years to help merchants react quickly to inquiries and mitigate chargebacks. "Bottom line, Valor PayTech helps ISOs, MLSs and other payments enterprises win more business today, and retain merchant customers longer," he said. "We help our reseller partners make more money and grow their businesses."
As he reflected on the company's accelerated growth, Schenberg mentioned recent office openings in Puerto Rico and the U.S. Virgin Islands. "Our plan is to continue growing partners and revenue at a rapid pace," he said. "From a technology standpoint, we will be launching RCKT, a Bluetooth EMV portable card reader, which will be available for shipping soon, and Valor Connect, for one-click ISV and POS partner integrations."
The company's near-term product road map includes Elavon and QuickBooks integrations, ACH and crypto payment forms, and more shopping cart and POS partner integrations. These plans, along with upcoming launches of an Android app marketplace and inventory and menu management capabilities, are all part of the company's commitment to make payments processing faster, easier and more profitable for partners, merchants and customers, Schenberg stated.
"We love our partners and their merchant customers," he said. "And we look forward to the opportunity to work directly with more and more of you!"
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