Our FinTech company Priority Payment Systems Local is proud to serve one of the most famous cities: New York City, home to Manhattan, Brooklyn, Queens, Staten Island, and the Bronx. Read on to learn why hundreds of NYC based businesses have looked to us as the best payment processing company, but first, if you’re not sure exactly what a FinTech company is, allow us to elaborate.
FinTech stands for financial technology – something every merchant needs to accept credit cards for their small, medium, large, or enterprise-sized business. Finance publication PwC best defines what a FinTech company is:
The term FinTech is often tossed around in the media and in casual conversation. And while many use the term, its specific meaning often gets lost somewhere along the way. Startups use technology to offer existing financial services at lower costs and to offer new tech-driven solutions. Incumbent financial firms look to acquire or work with startups to drive innovation. Technology companies provide payment tools. These can all be seen as FinTech.
When people think of FinTech, they often focus on startups, breaking into areas that banks and other legacy financial institutions have dominated. But we think about all the players in a larger FinTech ecosystem, which we refer to as the As, Bs, Cs, and Ds.
As are large, well-established financial institutions. We sometimes refer to these as “incumbents.”
Bs are big tech companies that are active in the financial services space but not exclusively so, such as Apple, Google, Facebook, and Twitter.
Cs are companies that provide infrastructure or technology that facilitates financial services transactions. This broad group includes companies like MasterCard, Fiserv, First Data, various financial market utilities, and exchanges such as NASDAQ [and Priority Payment Systems Local].
Ds are disruptors: fast-moving companies, often startups, focused on a particular innovative technology or process.
At Priority Payments Local, we are classified as both a payment processing company and a FinTech company. In the merchant services industry the phrases “payment technology company” and “FinTech company” are used interchangeably. What makes us both:
A payment processing company. As an ISO of Priority Payment Systems that’s based out of Alpharetta, Georgia, we work with banks and card brands to process payments, connecting with First Data and TSYS – two of the largest payment platforms in the world.
A FinTech company. We have a wide range of payment technology for sale that our in-house implementations team programs and administers for each merchant we work with. This technology is then used to process payments. The three main FinTech equipment types in the market include:
In addition to working with merchants to help them accept credit cards, debit cards, ACH payments, checks, cash, gift cards, and loyalty cards, the payment processing services we offer include:
New York City businesses, you get the same special local perks that our New Jersey merchants do because of your proximity to our headquarters located in Central, New Jersey:
For additional benefits, visit: Payment Processing Companies NJ: Benefits of Working With Priority
Our founders both grew up in Brooklyn, frequently taking advantage of all NYC has to offer between great dining and history. Prior to moving to Monmouth County, our co-founder and COO Angelo Mendola continued to work between Brooklyn and Red Bank. Both of our founders who come from big families and still have loved ones living in NYC say that this city will always have a piece of them. Thus, it was Sal and Angelo’s mission to ensure the merchants who live and work in their original home have the best FinTech and payment processing that can be provided. Travel to and from Red Bank, NJ to NYC is convenient for Priority’s team which comes in handy for on-site FinTech installs. Staten Island is about a 45-minute drive from Red Bank and New York Penn Station is on average about a 1.5 hour train ride.
Prior to starting Priority Payments and even before then, building a career in corporate America, Angelo worked in restaurants where he experienced first hand the struggles merchants faced with FinTech.
“Some customers got annoyed over how slow our payment terminals were at the restaurants. At the time, I knew we needed something better and later learned that FinTech solution was an on-demand payment option,” Angelo said.
“I also did not like how we would take orders over the phone, write them down on a piece of paper, and then enter them into a payment terminal. Of course we ripped up the papers but this is not a secure way of accepting payments and created double the work. With the restaurant business being so fast paced, every minute we saved could have improved our bottom line. Today I get to educate merchants on safe, secure, and fast FinTech,” he added.
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While food and beverage was the first industry in NYC we were able to help, we have since extended our services to more than 15 different industries such as:
Learn what our merchants had to say about us. Priority Payments Local’s credit card processing company reviews are available on our reviews page, Google, and Facebook. As of today, merchants have given us 4.7 out of 5 stars on Google. Here’s what a few merchants had to say:
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[Get started: Contact us for a complimentary rate or equipment analysis to see if we are the right fintech company for you.]