Consolidating service provider points of presence
Gateways should ideally be able to manage multiple merchant I. In addition to enhanced reporting, debt consolidation merchants need secure access to transaction data from anywhere they happen to be working, with built-in permission levels to facilitate all levels of employees and management.Payment gateways must comply with the Payment Card Industry Data Security Standard (PCI DSS).Visa and Mastercard can impose penalties and fines in the tens of thousands on payment processors and their sponsoring banks for continuing to process transactions for merchants that exceed the permissible 2 percent chargeback ratio.Non-compliant processors and banks may also be subjected to further scrutiny and potential shut-down by card brands and regulators.Digi Pay’s team of experts, combined with our partners’ proven record of successful debt consolidation services, can facilitate successful new company launches and help existing businesses grow and scale.The debt consolidation industry expanded rapidly on the heels of the Great Recession of 2008, as consumers sought relief from high levels of unsecured debt.
Debt Consolidation merchants also need a gateway with a data vault for tokenization of credit card numbers and encryption of customer personally identifiable information (PII).
Thousands of merchants, from start-ups to enterprise-scale organizations, leverage Digi Pay’s curated knowledge of high-risk payments to securely process hundreds of millions across an array of vertical industries.
Digi Pay works closely with debt consolidation partners, providing tailored solutions and timely advice to national and regional service providers, while helping them maintain the highest standards of banking and payment card industry compliance.
Debt consolidation products and services come in many different forms, from balance transfers to lines of credit to short-term loan products, all designed to repackage debt into a manageable package to benefit borrowers and creditors alike.
The need for secure and reliable credit card processing has grown in parallel with the debt consolidation industry and its expanding array of products and services. Credit card debt averages ,061 per cardholder and ,662 per household.