An authorized financial service that allow a business to accept credit card or bank debit card transactions using online ordering or point of sales systems. This financial service is a direct processor, meaning the company processes all transactions in-house rather than utilizing a third party processor.

Independent Sales Agents as Resellers - The term “reseller” in credit card processing can be used to signify a person or entity that is selling the merchant account services of another organization, or processor. Resellers can be individuals in the form of independent sales agents, subsidiaries, partners, technology and hardware providers, or other independent sales organizations.

Financial Institutions - Other organizations that act as resellers can run the gamut with the type of businesses they conduct, and may also have their own independent sales agents. Financial institutions often provide a suite of services to their business clients of which VPS is one.

With bill presentment, the partner provides Value Payment Systems with the billing records the customers access by providing a unique identifier (address, social security number, account number, etc.). The customer then chooses a payment from a drop down box and enters their unique identifier. At this point, the bill amount will be presented. Once customers review their bill amount, they can enter their credit/debit card information to make a payment.

When a partner is not PCI compliant, but has every other aspect of our bill presentment process already in place, Value Payment Systems can provide the back end bill payment application. The partner provides all of the front-end design and software and then Value Payment Systems will seamlessly integrate with the software to provide a payment option. Customers visit the partner’s site and then are directed to the VPS payment site for the final step in the process.

These web applications are reserved for partners who have PCI compliant applications or sites. Value Payment Systems acts as a gateway to and from the bank. The partner performs all of the software and site development.