Comparing Merchant Accounts: Nationwide Payment Systems vs. Stripe
Businesses often compare traditional merchant accounts with modern payment service providers like Stripe when choosing a payment processing solution. Nationwide Payment Systems (NPS) offers several advantages, making it a compelling choice for businesses looking for a long-term relationship for their company’s payment processing needs. This report outlines five key benefits of getting a merchant account from Nationwide Payment Systems compared to Stripe.
Competitive and Customizable Pricing Models
Nationwide Payment Systems offers highly competitive pricing models tailored to the specific needs of your businesses, including Software, Independent Software Vendors (ISVs), and Software as a Service (SaaS) companies. This customization can lead to substantial savings on transaction fees, ultimately boosting profitability.
Stripe typically offers a more standardized fixed pricing model, which may be less cost-effective for some businesses, especially if they do $20K monthly. Having more than one merchant account is essential when growing your business. Also, if you are doing recurring transactions, we advise that while there is a cost, you use a 3rd party to hold your data so that you own your data!
Dedicated Development and Customer Support
We have a phone number and answer the phone – while many competitors only do email. When you have an issue, you can pick up the phone!
NPS provides a dedicated development team to assist with the integration process, ensuring a smooth transition without disruptions to operations
Additionally, NPS assigns a dedicated representative to each account and offers 24/7 customer support, providing personalized and immediate assistance.
This level of support is often more comprehensive than what Stripe offers, which can be crucial for businesses with complex payment needs.
Comprehensive and Flexible Solutions
Nationwide Payment Systems offers various merchant account solutions that handle simple and complex payment needs. These solutions include credit card processing machines, mobile payment solutions, virtual accounts, e-commerce/online payments, and more. We also offer API’s for custom integration.
Our flexibility allows business owners to choose from different payment processing products and services to meet their needs, giving them a competitive edge.
Enhanced Security and Fraud Prevention
NPS provides PCI-compliant security features that help reduce credit card fraud
Additionally, our payment gateways include velocity settings to protect e-commerce websites from fast-moving fraudsters.
These advanced security measures can offer greater peace of mind than Stripe’s standard security protocols.
We offer 3D Secure, other Fraud Products, and Chargeback/RDR Programs to reduce and fight chargebacks.
Long-term Relationship and Business Growth Support
Nationwide Payment Systems is committed to building long-term relationships with its clients by offering a competitive product and services catering to low-risk and higher-risk businesses.
Our solutions are designed to help you grow your customer base and, in turn, trigger business growth.
Focusing on long-term partnership and growth support can benefit your business if you want sustained growth more than Stripe’s more transactional approach.
One of the most significant differences between using a traditional merchant account and using Stripe is that Stripe will board your account, and they do zero underwriting; when you run your first transaction, they check your website, business, etc. And if they need help finding something right, your funds are held, and there is no phone number to call. But this fast and easy way to get an account is attractive to many business owners. If you are ever shut down, you will probably not find out why, as they are the merchant of record, and they will hold your funds, and you are left to email them.
With a traditional merchant account, your business goes through underwriting, and we can match your business/product with the suitable bank/processor that supports your business type, whether it is low risk or high risk. This way, you can move forward, and if there is a problem with NPS, you have a dedicated account manager and a phone number to call.
One mistake many business owners make is not checking Stripes, terms of service along the restricted and prohibited list, which changes quite a bit to make sure their business type is not listed because once it is listed, it’s only a matter of time before your account will be closed.
Nationwide Payment Systems offers several advantages over Stripe, including competitive and customizable pricing models, dedicated development and customer support, comprehensive and flexible solutions, enhanced security and fraud prevention, and a focus on long-term relationships and business growth. These benefits make NPS a compelling choice for businesses seeking to optimize their payment processing systems and achieve sustained growth. By considering these factors, companies can make a more informed decision when choosing between Nationwide Payment Systems and Stripe for their payment processing needs.
