Overview
In this review of Payment Approved, we will provide a detailed overview of the company's credit card processing services. We will cover the range of services they offer, including point-of-sale (POS) systems, mobile payment solutions, and e-commerce capabilities. The review will identify the types of businesses that might benefit from these services. Additionally, we will examine client and customer reviews to highlight common trends and potential concerns. The article will also address the company's pricing structure, contract terms, and specific services provided. By the end of this review, you will understand whether Payment Approved meets your payment processing needs.
About Payment Approved
Headquartered in Austin, Texas, Payment Approved is a merchant account provider that serves businesses of all sizes and types. It is likely that the company resells the products and services of a larger entity, but it does not disclose its backend processor or its acquiring bank on its website.
The company advertises itself as “the future of payments,” thanks to its proprietary API that can send funds across different platforms and networks at speeds of 10,000 transactions per second. Payment Approved advertises a P2P web/mobile app that it has developed on its website. This platform allows financial institutions to develop a channel by which their customers may send and receive money from their accounts. Furthermore, the company app can handle payroll processing, online bill payments, online invoices, and act as a POS system, among other things. The company also lists a similar app named Giddy as one it endorses to facilitate the same purpose.
In 2021, Payment Approved acquired Optima Compass, a RegTech and AML compliance company.
Payment Approved Products and Services
Payment Processing
Payment Approved provides credit and debit card processing services, highlighting a quick setup and underwriting process. The company emphasizes advanced AML (Anti-Money Laundering) and KYC (Know Your Customer) compliance monitoring for each transaction. They offer a range of products and features aimed at simplifying AML compliance, reporting, API integration, white-label app solutions, and transaction management. These features include Compass, Agent Navigator, Giddy, Digital Ledger, CBIX, and Compass Intelligence.
Testimonials & Complaints
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