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Best Multi Currency Processing Services - Sep 2014

RANK COMPANY NAME YEAR FOUNDED REVENUE FULL TIME EMPLOYEES ACTIVE CLIENTS CLIENT RETENTION RATE PRICING CLIENTS Overall Score Composite score based on criterias and quality of work observed.
0100
GVGE
Competitive Rates Processor's ability to provide competitive pricing rates. Reliability Processor's overall reliability in service and processing. Efficiency Processor's overall ability to provide an efficient service with the least amount of inconvenience. Conversion Processor's ability to convert from one currency into another. Customer Support Processor's ability to communicate effectively with their customers. Change in Rank Indicates shift in rank from previous month's rank.
1st Award
WorldPay US

Cambridge, Georgia Tony Catalfano (770) 396-1616_ Visit WorldPay US File A Complaint
Commend This Vendor
1997 Over $100 million Above 100 1000+ 90% 95% CSI, demandware, WebSphere Commerce, mobizcorp
100%
100 100 100 100 100 NC More Info
2nd Award
TSYS Acquiring Solutions

Omaha, Nebraska Amit sethi 91 (120) 419-1001_ Visit TSYS Acquiring Solutions File A Complaint
Commend This Vendor
1991 Over $100 million Above 100 1000+ 90% 98% Omaha State Bank, Pender Community Hospital, Heritage Chevrolet, Inc., A Wise Move
99.2%
100 99 100 99 98 NC More Info
3rd Award
PayPal

San Jose, California Don Kingsborough (408) 967-3794_ Visit PayPal File A Complaint
Commend This Vendor
1999 Over $100 million Above 100 10,000+ 98% 98% rent.com, half.com, stubhub, shopping.com
98.2%
96 98 99 98 100 NC More Info
4
Direct Payment Solutions Ltd.

Sydney, Australia Ian McClelland +61-282687700 _ Visit Direct Payment Solutions Ltd. File A Complaint
Commend This Vendor
2004 $10 - $50 million Above 100 200+ 89% 98% Datum Connect, Zeald.com, Solutionists.co.nz, Exceed Online
97.4%
96 98 97 99 97 NC More Info
5
Planet Payment

Long Beach, New York Philip Beck (516) 670-3200_ Visit Planet Payment File A Complaint
Commend This Vendor
1998 Over $100 million 1 - 10 300+ 92% 98% Bank of East Asia, Payment Alliance International, Global Payments, Global Payments, Moneris Solutions
96.6%
98 97 96 95 97 NC More Info
6
CCnetPay

London, United Kingdom Benjamin Velner +44-2033181134_ Visit CCnetPay File A Complaint
Commend This Vendor
2007 $50 - $100 million 26 - 50 54 87% 98% Zen Cart, virtueMart, osCommerce, pci Certified
95.4%
97 94 95 95 96 NC More Info
7
USA Merchant Center

Los Angeles, California Natalie Goretsky 323-931-3122_ Visit USA Merchant Center File A Complaint
Commend This Vendor
1998 $10 - $50 million 26 - 50 58 95% 95% First Data Corporation, TSYS Acquiring Solutions, Global Payments, Merchant e-Solutions, CrossCheck
94.2%
96 94 93 95 93 NC More Info
8
Beanstream Internet Commerce

Victoria, Canada Craig Thomson +1-888-472-2072_ Visit Beanstream Internet Commerce File A Complaint
Commend This Vendor
2000 $10 - $50 million 11 - 25 200+ 90% 98% Shaw Communications, Best Buy, Future Shop, TD Bank Financial Group, Equifax
93.4%
93 93 95 94 92 NC More Info
9
PaySimple

Denver, Colorado Eric Remer (303) 242-8360_ Visit PaySimple File A Complaint
Commend This Vendor
2006 $10 - $50 million 26 - 50 100+ 90% 89% Weber Olcese, Brain Paint Inc., Hosto & Buchan, Seth L. Goldner, P.C., Multiflor
92.4%
92 92 94 92 92 NC More Info
10
First Data Corporation

Greenwood Village, Georgia Mark Herrington (404) 890-2410_ Visit First Data Corporation File A Complaint
Commend This Vendor
1989 Over $100 million Above 100 10,000+ 90% 98% Estarstation.com, valuelink.biz
91.6%
90 93 92 92 91 NC More Info

Evaluation Criteria for Multi-Currency Processing

The independent authority on credit card processors, topcreditcardprocessors.com, is a research firm dedicated to identifying and ranking the best credit card processors in the United States. Through an in-depth vendor analysis, client evaluation, and the use of our proprietary evaluation criteria, we have put together a list of the top multi-currency processing services. Our analysis delves into a vendor’s business practices and compares them against industry standards to ensure that the service is quality. Often times we connect directly to the clients of a vendor and ask about their overall experience.

There are five key areas which we have identified as significant for a multi-currency processing service:

When determining competitive rates, it's important to evaluate several different companies to determine the differences from one service to the next. With a multi-currency processing company, the rates become even more important, since a business stands to lose money due to conversion rates that may not favor the merchant. By finding a company that provides the fee structure up front and making sure that statements are clear, merchants can help avoid issues.

Multi-currency processing companies must keep track of the latest conversion rates to ensure that merchants are given the correct pricing for a transaction. The software and hardware used to perform these calculations must be available full-time without latency and have constantly updated exchange rates. When the service goes down, the merchant can't process orders and may lose significant business. For this reason multi-currency processing companies must have backups in place to make sure that the services are constantly available.

How efficiently a multi-currency processing company processes transactions and keeps accurate records affects the overall evaluation. Companies that don't keep accurate records of the exchange rate used can't provide merchants with valuable information needed to adjust their prices to compensate for regional price differences. From the delivery of statements to the processing of transactions, companies need to have an efficient system for dealing with all production related elements.

One of the most important aspects of a multi-currency processing company involves the manner in which conversions take place. If the company accepts a transaction on Monday, but doesn't process the transaction until the next day, the exchange rate could drastically change. This could leave the merchant with less money in their bank accounts, especially if the merchant adjusts foreign prices on a daily basis to adjust for the daily differences in exchange rates. The multi-currency processing company must work just as hard as the merchant to make sure transactions are processed effectively.

The security of the system and the availability of customer support are two areas that must be evaluated together. When the security systems go down, customer support representatives must have the knowledge to answer any concerns prompted by the merchant. Knowledge of the security protocols, the policies for dealing with fraud, and who to contact in a security emergency are key functions of an effective customer support team. When something goes wrong, support must be available to notify the correct team needed to fix and remedy and breaches.

General Queries

  • How did you find your current payment processor?
  • What other payment processors, if any, have you used?
  • How many transactions do you process per month?
  • What would be three things you would change about your experience?
  • Rate your overall experience (1-10; 10 being the highest).

 

Project Specific Queries :

  • In which currencies do you normally accept payment?
  • How long does it take to receive funds based on the type of currency being accepted?
  • What types of international payments can the service provider accept?
  • How fast can the service provider produce authorizations in foreign currencies?
  • How does the provider deliver reports? What types of information are made available to you?