The Green Sheet Online Edition
August 14, 2017 • Issue 17:08:01
Geared for stable, integrated ecommerce and payfacs
Payroc LLC added the iTransact payment gateway to its technology suite, expanding its line of integrated, ecommerce gateway and mobile POS solutions for micro, small and midsize merchants. Payroc acquired the assets of iTransact Group LLC in 2016, and stated the two enterprises share a commitment to exceptional service, technology and transparency. The iTransact gateway will power Payroc's payment facilitator program, company representatives said.
Payroc, a registered ISO of Fifth Third Bank and Wells Fargo Bank N.A., said it processes nearly $3.5 billion annually on the First Data Corp., Vantiv and Moneris platforms. James Fahey, Sales Director at Payroc, has been with the company since its inception in 2003. "In our small office, everyone knew each other's clients," he recalled. "Even today, we haven't lost that touch." Jared Poulson, Chief Technology Officer at Payroc, added, "iTransact also grew organically. We began by focusing on certain verticals, customizing payfac offerings for specific companies."
Simple integration, API
Poulson noted that iTransact developed a virtual terminal in 1994 and has been providing end-to-end merchant solutions for more than 20 years. In addition to custom gateway services, iTransact provides mPOS, ecommerce, standalone and integrated POS, and traditional merchant solutions, including recurring billing, EMV (Europay, Mastercard and Visa), electronic check and automated clearing house (ACH) payment processing.
The iTransact RESTful application programming interface (API) is compatible with most merchant accounts and designed to be easily integrated into nearly any software. The iTransact API uses advanced tokenization methods to securely process payment card and ACH transactions. Unique API keys enable managers and developers to securely log in to the gateway control panel. Additional parameters facilitate customer management, subscription management and metadata storage capabilities, according to Payroc. "We wanted to create a development portal that even a junior developer can easily use and navigate," Poulson stated.
Poulson said Payroc's relationships with merchants and partners reflect its five core values of pricing clarity, exceptional service, trusted advice, personal relationships and integrity in the following ways:
- Commitment to merchants: Payroc sales agents and relationship managers are Certified Payments Professionals (CPPs), to provide merchants with secure, appropriate, EMV-enabled solutions and transparent, interchange-plus pricing.
"We are committed to providing pricing clarity to make sure you have a proper understanding of all payment processing costs," company representatives stated. "Interchange plus pricing clearly shows the actual costs of card issuer interchange and card brand assessments and fees, which represents the major portion of your card acceptance fees."
Additional interchange management features enable business owners to maintain the lowest possible costs, Payroc noted, adding that its merchant statements are easy to understand because they do not have complex fee structures or hidden charges.
- Commitment to partners: The company's interest in building fulfilling, sustainable relationships is driven by a belief that people do business with people. This belief, combined with the company's core values, helps Payroc and its extended family of employees and sales channel partners identify, acquire and retain more merchant accounts, the company stated.
In addition to fostering long-term relationships with each of its partners and employees, Payroc invests in each of its payment professionals as part of its commitment to provide lifetime monthly residuals and long-term financial security. Payroc said it provides its CPPs with personal support and a stable foundation to help them succeed and win more business.
The company's enhanced support services were created to ensure that each of its payment professionals achieve the highest available levels of payments industry education, training and support to help them excel as trusted advisers of iTransact and Payroc.
"We don't want just salespeople; we want payment professionals who establish personal relationships," Poulson said. "We offer long-term career development and partnership in a relaxed and fun team environment, which is why so many payment professionals refer to themselves as Payroc 'lifers.'"
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