What is Preferred Payments?Preferred Payments is a payments processing solution designed to help businesses of all sizes manage processes related to credit card payments, gift cards, point of sale (POS) transactions, loyalty programs, and more. The platform comes with an ACH and eChecks functionality, which enables enterprises to set up specific amounts and dates for memberships, subscriptions, and recurring bills.
Preferred Payments includes tokenization and P2P encryption measures, which facilitate data security by replacing sensitive information with unique identification symbols and storing it in an off-site digital vault. The solution offers a host of features such as mobile payments, PCI compliance management, inventory management, eSignatures, fraud security, and more. The centralized dashboard allows administrators to view transactions, customer data, reseller details, and maintenance notifications, and add/modify users.
Preferred Payments offers reporting and analytics tools, which lets businesses gain insight into settlements, credits/debits, deposits, and month-end statements. Plus, it integrates with QuickBooks POS, shopping carts, and various third-party systems via the application programming interface (API).