The Benefits of Using New Fintech Payment Systems

There are some very exciting advances in payment technologies making their way into our lives right now. New payment systems are not like what we used to see back in the days of traditional banking. 

Why is this a big deal?

Because these innovations really change the ways that we work, and create some efficiencies that make some of the hardest work obsolete. If you’ve ever heard the phrase “work smarter, not harder” … well, that’s part of it. 

The Old Days

Do you remember when people used to mostly pay for things with a paper check?

Remember all the heartache that caused? You got your check, but you had to wait days to make sure that it cleared. Checks would bounce, and then everybody would pay a fee, and the holder would be left without their money.

You had merchants pinning up bad checks to the wall and trying to publicly shame people that may have never showed up in the store again.

You had contractors running around attaching interest to payments that they would never get in a million years. It was a real mess, in more ways than one. 

Changes in Payment Technology

Fast forward to the new millennium: as new verified payment transaction portals come on the scene, we don’t have to worry about paying with paper checks anymore.

You don’t have to get people’s social security numbers and addresses, or other bits of information, and try to be your own collections agency, because the new platforms integrate verification inside the technology.

We don’t even really need credit cards anymore. The PCI system relies on using those carefully created numbers and identifiers to verify payments. But if your payments are already verified to a portal, you don’t need a credit card number. You get a new on-ramp provided by what we call “fintech” – short for financial technology, a growing business. 

Getting into the Game

At AmaryllisPay, what we offer is a unique chance for companies to enter the payments game with their own protocols and platforms.

It’s easy to compete with systems like PayPal and Stripe when you have game-changing technology in your own network build or connected to your systems by a vendor.

The benefits of being able to offer these payment systems are profound. Check out how we offer customized payment solutions with white label design, so that your brand stays on every transaction. It’s something that’s generating a lot of excitement in the executive community, because these options simply didn’t exist a few short years ago. We’re here to support your business!