Too many pay-site webmasters can identify with the following scenario: You sign up with an Internet Payment Service Provider (IPSP), so that you can focus on your website while letting someone else handle the back-office functions and deal with the risks of online payments. In particular, you count on your IPSP so that your bank account is teeming with subscriber revenue.
OK, so sometimes they take a double-digit percentage cut and it takes a week or more for the money to actually get into your bank, but the benefits are worth the hassles, right? Unless they go out of business before they make their last deposit, leaving you short of cash, potentially with chargeback issues, and in trouble with your vendors!
OrbitalPay, LLC was created to prevent just such a disaster. The company, owned by Global Electronic Technology, Inc. (GET) -- whose financial strength guarantees OrbitalPay's funds -- mitigates the risk of using an IPSP by making daily deposits directly to its clients' accounts.
"This means that we do not touch the merchant's daily funds or their reserves," says GET CEO Steve Bryson. "By GET assuming the risk on behalf of OrbitalPay and its clients, we cut out the middle man, enabling OrbitalPay to offer the most competitive rates. We do not believe in co-mingling the funds of our clients with other clients or our own funds. Your money is your money and we have a responsibility to protect it!"
That's not all. According to Bryson, due to the size of parent company GET, OrbitalPay can offer comprehensive services at a rate of 8.95 percent, which he says are among the IPSP industry's lowest. In addition to OrbitalPay clients receiving secure transaction processing, they also receive individualized descriptors on their billing statements, access and portability of their billing database, live 24/7 customer service support, and real-time reporting combined with award-winning fraud identification tools that mitigate chargebacks while often delivering increased conversion rates.
Perhaps most importantly, OrbitalPay does not discriminate against merchants based on size; no client is too small or too large to sign up. "I have owned and operated GET for more than nine years, and in that time we have served everyone from $500 a month guys to Fortune 500 corporations," Bryson comments. "In that time period, we have served more than 15,000 merchants settling billions of dollars in client funds, both in the adult and mainstream markets worldwide."
Such are the differences between OrbitalPay and other IPSPs, that Bryson refers to his company as being a hybrid IPSP. "OrbitalPay combines the security and all of the benefits of a traditional IPSP with the security of an individual merchant account," he says. "Under our system, you get daily deposits, eliminating your exposure to IPSP financial failure. The OrbitalPay model, I believe, represents the evolution of outsourced online payments, making good on the promises of business security, ease of use, and outstanding customer service."
This article originally appeared in the January issue of AVN Online. To subscribe, visit AVNMediaNetwork.com/subscribe.