Payment and Banking Strategy – Why Asking a Few Simple Questions is Not Enough By Viktoria Soltesz   I recently came across various studies and recommendations (“12 questions to ask your payout provider” “Ask every online payment provider these questions” “10 Questions to Ask When Choosing a Payment Service Provider”) which are being widely shared online as the “holy grail” of strategies in payment and banking. While I’m pleased to see increasing focus on this area and that people are trying to create frameworks to simplify the complexities around the subject, I still have serious concerns. Frameworks that are not comprehensive can cause more harm than good.   Differences in Approach There are various approaches when it comes to strategizing payment and banking flows. Merchants have an abundance of options from different payment and banking service providers, offering a range of benefits, fees, risks, and payment methods globally. Although it may seem that the industry is becoming more straightforward and user-friendly, behind the scenes, the complexities around this issue are increasing, making it more difficult to navigate. How do we know what approach is the right one? How can we be sure that our consultant is exerienced enough to recommend a holistic, long-term strategy that covers all aspects of a business’s payment and banking structure, instead of narrowly focusing only on choosing the right payment vendor? While all approaches that motivate merchants to strategize their payment and banking flows have their uses, it’s critical to evaluate the potential risks and damage that can arise from relying on “lightly” designed frameworks, especially for merchants with complex operations.   The Need for a Strong and Comprehensive Approach To have an overall, extensive payment and banking strategy, you need a very strong framework, such as the Soltesz Payment Framework. Only detailed frameworks that address every aspect of the operation from a payment and banking perspective—such as compliance, technology, data security, risk, budgeting and costing, alternative payment methods, etc.—can reveal the real potential and risks around the operation. Taking this task lightly and assuming that the simple task of choosing a vendor can be evaluated efficiently by asking a few questions is a mistake. Covering multiple dimensions of payment and banking strategies, including risk management, compliance, foreign exchange (FX) handling, operational efficiencies, and ongoing monitoring, is essential. Only robust payment and banking frameworks are built to address the entire financial ecosystem, offering a structure that is adaptable as a business evolves. Simply asking a few questions about vendor selection might help raise attention to the importance of banking and payment strategy, but its focus remains narrow—primarily limited to price, geographic reach, payment methods, settlement currencies, and customer experience. This creates a superficial layer of decision-making that can easily miss the broader picture of payment and banking strategy.   Risk Management and Strategic Depth The Soltesz Payment Framework includes a comprehensive risk management approach, addressing both operational and financial risks. It examines everything from the technological infrastructure of the payment providers to the compliance standards they meet and the security of transactions. Risk management in this framework also includes due diligence on providers, a detailed look into fees, foreign exchange hedging, and contingency planning for regulatory changes. This ensures that every angle is covered, protecting the merchant from costly mistakes that could arise from overlooked risks. Simply asking a few questions around vendor selection and assuming that this covers operational risk assessment for payments and banking flows is a mistake. A few questions will not provide an integrated risk management framework and can lead to poor decisions, which can be extremely costly in the future. Diving deeply into the broader operational, compliance, and financial risks businesses face is absolutely vital when determining an overall payment and banking strategy. Surface-level solutions focusing on individual pain points like fees and vendor selection, while ignoring the long-term risks of banking and payment strategy mismanagement, can expose businesses to serious vulnerabilities.   Potential Damage from Incomplete Solutions For merchants, relying on incomplete or superficial frameworks can lead to substantial financial risk, reputational damage, and operational inefficiencies. Financial Risk: Without a detailed examination of hidden fees, FX risks, and tax implications, businesses can end up overpaying for services, especially when operating internationally. If a banking and payment strategy does not provide tools for evaluating complex fee structures or negotiating better terms with banks and payment providers, this lack of insight can result in unexpected costs, draining the company’s resources over time. Furthermore, if currency fluctuations are not adequately hedged, a business may face losses due to exchange rate volatility, which is often ignored in simplistic vendor selection processes. Compliance and Legal Risk: Payment and banking operations are governed by strict regulations related to anti-money laundering (AML), Know Your Customer (KYC), and data protection laws. Failure to meet these compliance standards can result in severe legal penalties or even the loss of banking relationships. Having an extensive focus on compliance ensures businesses maintain legal alignment across all jurisdictions. It is absolutely vital to have an overall understanding of compliance risk, as businesses may otherwise be exposed to regulatory breaches and financial penalties. Reputation Risk: Poor payment and banking strategies can also have a significant impact on a business’s reputation. Payment delays, failed transactions, or security breaches can erode customer trust and lead to negative reviews or public backlash. In today’s competitive environment, businesses cannot afford reputation loss due to inadequate payment processes. Creating a smooth and reliable payment experience is essential, as overlooking important risks can lead to gaps that cause transaction failures and poor customer satisfaction. Operational Risk: Selecting vendors without a thorough assessment of their operational capacity—such as uptime, response times, and disaster recovery plans—can cause significant downtime and revenue loss. It is absolutely vital to fully address the operational intricacies of working with multiple payment vendors. Businesses that adopt a fragmented or lightly vetted vendor network risk operational inefficiencies and payment interruptions that can slow down growth and damage customer relationships. Technological Risks: It is crucial to

Contactless Payment Processing Elevate Your Payment Experience Enhance the way you accept payments while lowering your costs and protecting both staff and customers with our secure, convenient, and touch-free contactless payment solutions. Why Choose Contactless Payment Processing? Secure and Convenient: Our contactless payment systems offer a secure way to accept payments without physical contact, reducing the risk of spreading germs and enhancing convenience for both you and your customers. Versatile Integration: Whether you’re using a desktop, tablet, or phone, our solution integrates seamlessly with any device. Accept payments anywhere with our powerful virtual terminal, accessible directly from your browser. Comprehensive Payment Options: Handle all types of transactions—whether in-person, card-not-present, over the phone, via email, or through your website—effortlessly and securely. Key Features: All-In-One Solution: Our contactless payment processing works across all transaction types, providing a unified experience for your business and customers. Advanced Security: Ensure safe transactions with our robust security protocols, protecting sensitive payment information and reducing fraud risks. Best Rates for Mid- to Large Businesses: Benefit from competitive rates tailored for mid- to large-sized businesses, ensuring you get the best value for your payment processing needs. Streamline Your Payments Today Experience the future of payment processing with our contactless solutions. Simplify transactions, enhance customer satisfaction, and safeguard your business. Contact us to learn more about integrating our contactless payment systems into your operations.

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Are you tired of waiting for checks to clear or dealing with the hassle of delayed payments? With National ACH, you can get paid faster than ever before using ACH, e-checks, and credit cards. Our secure and reliable payment processing solutions make it easy for businesses of all sizes to streamline their cash flow and improve financial efficiency. Whether you’re a small business owner or a large enterprise, National ACH has the tools and expertise to help you get paid faster and more efficiently. Say goodbye to long wait times and hello to accelerated cash flow with National ACH. Get started today and experience the difference for yourself!   Why Choose National ACH Unlock the full potential of your business with National ACH, where we offer an array of features designed to meet the diverse needs of high-risk merchants: High Risk Specialists: We specialize in catering to high-risk merchants, welcoming businesses from all industries classified as high risk to apply for our services. With our expertise and tailored solutions, we’re here to support your success. High Volume Processing: Power your business growth with the processing capacity you need. Whether you require single high-volume Merchant Identification Numbers (MIDs) or multiple accounts, we provide the flexibility and scalability to meet your demands. More Payment Options: Expand your payment options to cater to customer preferences and increase profitability. National ACH allows you to accept ACH payments, echecks, Remote Deposit Capture (RDC), as well as credit and debit card payments, providing convenience for your customers and driving revenue for your business. Same Day ACH Credits: Gain a competitive edge with same-day ACH credits, ideal for paying employees, affiliates, vendors, and suppliers. Enjoy expedited payment processing and enhance your operational efficiency. Recurring Payments: Simplify billing processes and ensure consistent cash flow with our recurring payment options. Make it easy for customers to pay you on a regular basis while minimizing revenue leakage and protecting your bottom line. Cloud Reporting: Streamline your account management with our cloud-based reporting system. Access vital information quickly and efficiently, and seamlessly import and export processing data to your internal accounting systems for enhanced transparency and financial oversight. Choose National ACH as your trusted payment processing partner and experience the benefits of our comprehensive solutions tailored to high-risk merchants. Contact us today to elevate your payment processing experience!   CEO;  Jane Larimer is President and CEO of Nacha, which governs the modern ACH Network, the payment system that quickly and safely moved 31.5 billion payments in 2023.    

Payello is a comprehensive financial services platform committed to providing a seamless experience for managing financial needs. With a focus on simplicity, affordability, and security, Payello aims to empower individuals worldwide with a diverse array of tailored services. At its core, Payello offers user-friendly banking services for opening accounts, managing funds, and accessing essential features. In addition, Payello excels in payment processing solutions, allowing for quick and efficient money transfers for personal or business use. The platform also provides debit and credit card options with competitive fees and benefits, integrating advanced technology for swift and secure transactions. E-commerce functionalities are another key aspect, offering tools and resources for businesses to establish or enhance their online presence. To ensure trust and security, Payello partners with leading financial institutions to implement robust security measures. Payello is connected to various local and global payment networks including SWIFT, SEPA, Faster Payments, and ACH. Why Choose Payello? 1. Security and Trust: Payello prioritizes the security of your financial transactions. Their robust encryption protocols and collaboration with reputable financial institutions ensure your sensitive data remains safe. 2. Affordability: Payello offers cost-effective solutions. Whether you’re an individual or a business, their services won’t break the bank, making financial management accessible to all. 3. Comprehensive Services: From banking to e-commerce, Payello covers it all. Their platform integrates various financial features, streamlining your financial activities in one place. 4. Reliability: Payello’s partnership with established institutions guarantees stability and reliability. You can trust them for seamless, uninterrupted services.   Payello supports processing payments in 135+ currencies, allowing you to charge customers in their native currency while receiving funds in yours. This is especially helpful if you have a global presence, as charging in a customer’s native currency can increase sales. The Payello platform lets you accept credit cards, debit cards, mobile wallets, and dozens of payment methods from around the world—all with a single integration. Get access to advanced payment features like 3D Secure 2 authentication, card updates, automated retries, and more. It supports processing payments in the following 135 currencies: USD, AED, AFN*, ALL, AMD, ANG, AOA*, ARS*, AUD, AWG, AZN, BAM, BBD, BDT, BGN, BIF, BMD, BND, BOB*, BRL*, BSD, BWP, BZD, CAD, CDF, CHF, CLP*, CNY, COP*, CRC*, CVE*, CZK, DJF*, DKK, DOP, DZD, EGP, ETB, EUR, FJD, FKP*, GBP, GEL, GIP, GMD, GNF*, GTQ*, GYD, HKD, HNL*, HRK, HTG, HUF, IDR, ILS, INR*, ISK, JMD, JPY, KES, KGS, KHR, KMF, KRW, KYD, KZT, LAK*, LBP, LKR, LRD, LSL, MAD, MDL, MGA, MKD, MMK, MNT, MOP, MRO, MUR*, MVR, MWK, MXN, MYR, MZN, NAD, NGN, NIO*, NOK, NPR, NZD, PAB*, PEN*, PGK, PHP, PKR, PLN, PYG*, QAR, RON, RSD, RUB, RWF, SAR, SBD, SCR, SEK, SGD, SHP*, SLL, SOS, SRD*, STD*, SZL, THB, TJS, TOP, TRY, TTD, TWD, TZS, UAH, UGX, UYU*, UZS, VND, VUV, WST, XAF, XCD, XOF*, XPF*, YER, ZAR, and ZMW. * not supported by American Express The list of supported payment methods includes: Supported Payment Methods Visa Mastercard American Express Discover Diners Club JCB Canadian pre-authorized debit (PAD) Alipay Apple Pay Bancontact (Belgium banks) EPS (Austria banks) giropay (Germany banks) iDEAL (Netherlands banks) Przelewy24 (Poland banks) Multibanco (Portugal banks) SEPA Direct Debit Klarna Pay Now (Sofort) Klarna Pay Later WeChat Pay Open Banking (UK banks) Paysafecard Western Union MoneyGram Social Link

Zoro Card offers a simple and transparent fee structure, with no hidden charges or interest rates. Customers can use their Zoro Card anywhere that accepts Visa, both online and in-store. The card is linked to a mobile app, which allows users to easily manage their finances, track spending, and set budgets. One of the key features of Zoro Card is its credit-building capability. By using the card responsibly and making timely payments, customers can improve their credit score over time. This can be particularly beneficial for individuals who are new to credit or looking to rebuild their credit history. Zoro Card also prioritizes security and fraud protection. The card comes with advanced security features, such as EMV chip technology and real-time transaction alerts. In case of any unauthorized activity, customers can quickly freeze their card through the mobile app and receive a replacement card. To apply for a Zoro Card, customers can simply download the mobile app and complete the online application. The application process is quick and straightforward, with no credit check required. Once approved, customers will receive their physical Zoro Card in the mail, which can be activated through the app. Overall, It aims to provide a convenient and secure financial solution for individuals who prefer the benefits of a credit card without the worry of debt or monthly bills. Social Link

With Zynlo Bank, you can open a high-yield savings account that helps you grow your money faster. They offer competitive interest rates, so your savings can earn more over time. You can easily transfer money between your Zynlo Bank accounts and external accounts, making it convenient to manage your finances. One of the unique features of Zynlo Bank is the ability to get paid up to two days earlier with Early Pay. When you set up direct deposit with Zynlo Bank, you can receive your paycheck up to two days before your scheduled payday. This can help you get a head start on paying bills or saving for your financial goals. Zynlo Bank also offers a rewards program for debit card purchases. With every qualifying purchase you make using your Zynlo Bank debit card, you can earn points that can be redeemed for cash back or other rewards. This allows you to earn rewards while you spend, making your everyday purchases more rewarding. Security is a top priority for it. They use advanced encryption and security measures to protect your personal and financial information. They also offer 24/7 fraud monitoring and zero liability protection, so you can have peace of mind knowing that your money is safe. Overall, It is a digital bank that offers flexibility, convenience, and security. Whether youre looking to grow your savings faster, get paid earlier, or earn rewards on your debit card purchases, Zynlo Bank has you covered. Social Link

Zytara digital assets are designed to enhance the gaming and esports experience. These assets can be used within games and platforms to purchase in-game items, virtual goods, and services. They can also be traded and sold on various marketplaces. In addition to digital assets, It also offers NFTs (Non-Fungible Tokens). NFTs are unique digital assets that can represent ownership of a specific item or piece of content. This can include things like virtual real estate, artwork, collectibles, and more. Zytara NFT platform allows users to buy, sell, and trade these unique digital assets. Zytara goal is to provide a seamless and secure banking experience for gamers and esports enthusiasts. By integrating blockchain technology and digital assets into their platform, Zytara aims to revolutionize the way financial transactions are conducted within the gaming and esports industry. Overall, Zytara products and services are designed to cater to the specific needs and interests of gamers and esports enthusiasts, providing them with a comprehensive and innovative banking solution. Social Link

Zand aims to revolutionize the banking industry by offering a seamless and user-friendly digital banking experience. The bank services include current and savings accounts, debit and credit cards, loans, and investment products. One of the key features of Zand is its focus on customer-centricity. The bank aims to provide personalized and tailored solutions to meet the unique needs of each customer. Through advanced data analytics and artificial intelligence, Zand can offer personalized financial advice and recommendations. Zand also places a strong emphasis on security and privacy. The bank utilizes state-of-the-art encryption and security measures to ensure the safety of customer data and transactions. Additionally, Zand is fully compliant with local regulations and operates under the supervision of the Central Bank of the UAE. In addition to its banking services, Zand aims to be a digital economic accelerator. The bank plans to collaborate with fintech companies and other digital service providers to create a vibrant ecosystem of digital services. This includes partnerships with e-commerce platforms, payment gateways, and other digital platforms to offer a seamless and integrated experience for customers. Overall, Zand is poised to disrupt the traditional banking industry in the UAE by offering innovative digital solutions and creating a digital ecosystem that supports the growth of the digital economy. Social Link

Zelf is a convenient and hassle-free way to manage your money. With Zelf, you can send and receive money instantly through popular messenger platforms like WhatsApp, Facebook Messenger, and Telegram. There no need to download any additional apps or visit a bank branch. To get started with Zelf, all you need to do is message their virtual assistant on your preferred messenger platform. The virtual assistant will guide you through the process of creating an account and activating your Zelf card. Once your account is set up, youll receive a virtual Zelf card that you can use for online purchases. If you prefer a physical card, you can order one and it will be delivered to your doorstep within a few days. With your Zelf card, you can make withdrawals from local ATMs and use it to pay for goods and services online. The best part is, there are no fees associated with using the Zelf card. It is a secure and reliable way to manage your money on the go. Whether you need to split a bill with friends, pay for a purchase online, or withdraw cash from an ATM, it has got you covered. Get your Zelf card in just 30 seconds and start enjoying the convenience of instant money in messengers. Social Link

Bank Zero aims to provide a seamless and convenient banking experience by offering all services through its mobile app. This means that customers can access all banking functionality, including FICA activities, giving notice, closing an account, replacing a card, and more, directly through the app. By eliminating the need for customers to visit a branch or use other channels for certain activities, Bank Zero aims to provide greater control and transparency to its customers. This approach aligns with the modern banking needs of both businesses and individuals, who increasingly prefer to manage their finances through mobile apps. Bank Zero focus on providing a comprehensive banking experience through its app sets it apart from traditional banks that may offer their app as an additional channel with limited functionality. By offering all services through the app, Bank Zero aims to simplify banking processes and provide a more efficient and user-friendly experience for its customers. Social Link

Zeta also provides tools for budgeting and expense tracking, allowing couples to see where their money is going and make adjustments as needed. The app also offers personalized recommendations and insights based on a couple financial goals and spending habits. One of the unique features of Zeta is the ability to create shared financial goals. Couples can set savings targets together and track their progress towards those goals. This can help couples stay motivated and accountable to each other when it comes to their finances. Zeta also offers educational resources and articles on various financial topics, such as budgeting, saving, and investing. This can help couples improve their financial literacy and make more informed decisions about their money. Overall, Zeta aims to simplify and streamline the process of managing finances as a couple. By providing a centralized platform for tracking accounts, setting goals, and receiving personalized advice, Zeta helps couples work together towards their financial goals. Social Link