The measure of success is not whether you have a tough problem to deal with, but whether it's the same problem you had last year.
- John Foster Dulles

Outsourcing payment processing provides numerous benefits. It helps small businesses to grow and larger businesses to develop or maintain a competitive advantage.

Outsourcing payment processing also:

  • Reduces overhead
  • Enables staff to focus on core responsibilities
  • Eliminates tedious tasks such as sorting mail, opening payment envelopes, endorsing checks, completing deposit tickets, and making trips to the bank.
  • Provides a system of checks and balances for businesses and organizations that do not have separate accounts receivable and accounts payable functions.
  • Assures that all payments received are processed and deposited same-day prior to the bank’s cut-off time for same-day credit.
  • Provides payment information required to update customer records in required formats
  • Reduces mail and processing float, speeds up funds availability (can result in increased interest income or reduced interest expense)
  • Reduced security issues
  • Provides access to specialized expertise without ongoing cost
  • Meets requirements of a credit provider, a third-party collateral agent or auditor
  • Provides the freedom to select bank services based on service not location

Businesses and organizations may also outsource payment processing to meet requirements of a credit provider, third party collateral agent or auditors.