ACHcheck™ BECOMES VICTORY PAYMENTS™ AND OFFERS NEW TECHNOLOGY TO HELP BUSINESSES COLLECT AND VERIFY PAYMENTS FASTER, SAFER, AND EASIER
Essex, CT – March 6, 2015 – ACHcheck, a provider of ACH, credit card, and verification processing services throughout the United States, unveils its new name, Victory Payments™. The new identity reflects the company’s dedication to help businesses reduce merchant processing costs and payment risk with new generation processing services. The new brand also signals the company’s focus on non-profit fundraising through its Process For Charity™ mission.
The company was founded in 1999 by Will Harovas, a 20 year veteran in the payments industry.
The verification and authentication services offered by Victory Payments plays a vital role in helping companies eliminate unnecessary ACH NSF returns, improve the collection of outstanding receivables, reduce potential fraud, and authenticate new customers.
“Our verification service can verify the real-time status of a customer’s bank account in less than one second. That kind of insight really helps companies make better risk management decisions when it comes to processing payments,” said Victory Payments CEO Will Harovas.
“It’s still surprises me how many companies are processing ACH transactions blindly. They could be saving a tremendous amount of time and money using these new tools. Merchants really don’t have a choice moving forward in the new payments landscape. With increased regulations and fraud on the rise…it’s something they need to incorporate sooner rather than later to stay ahead of the curve.”
“ACH and credit card merchant accounts are generally viewed as a commodity these days. But coupling new technologies to make these payment options safer and more effective is where we differ.”
Merchants can eliminate declined sales due to expired credit cards with automatic account updater.
This is especially a big deal for merchants who process recurring credit card transactions. The time and labor costs to track down customers and update card information can be eliminated.
Payment Data Security is also a hot topic with the seemingly never-ending data breaches of large corporations. Merchants that aren’t Payment Card Industry (PCI) compliant run the risk of being held liable for any breach of cardholder data. Many smaller merchants are completely unaware.
The cloud based, Customer Vault™ was specifically designed for businesses of any size to address security concerns about handling and storing customer payment information. The PCI compliant, encrypted solution “tokenizes” customer credit card and checking account information. Tokenization allows a business to process transactions, now and in the future, without transmitting customer account data.
The company also advises merchants on how to better utilize different payment rails in order to automate cash flow and minimize processing costs. “We show merchants how to promote these payment options to their customers in a way that reduces friction and improves adoption.”
A key differentiator and a core focus of the company’s future is its Process For Charity™ mission.
Merchants can now fund donations to any charity, church, or school they care about with zero out of pocket expense.
Business leaders can join the Process For Charity™ mission simply by switching their credit card processing service. Not only will the company cut a merchants processing costs by 10% but they will send a monthly revenue rebate, from its own profits, which a merchant can direct to any charity it wishes.
“The Victory brand is all about creating win-win relationships. The charity wins when they receive much needed donations. And merchants win by lowering their processing costs, building goodwill for their business, and helping their favorite charity at no cost,” added Will Harovas.
“We are focused on attracting socially responsible companies that want to make a difference and help others. We’re really excited about the tremendous merchant support we’ve received so far.”