Tokenization of payment profiles and standardization of processors.
The payment options you want, the payment security you need.
To facilitate security, a data standard for payment card information was created (PCI-DSS). This standard requires secure development, hardware standards, data handling, and company procedures. Because the standard is high, many companies operate outside of PCI-DSS demands, and an estimated 91% of online transactions are not PCI Compliant, putting customers at financial risk.
At LoanPro, we have worked hard to meet these strict security requirements. LoanPro’s Secure Payments software platform maintains the highest-level PCI certification, keeping customers’ payment card data secure. Secure Payments is scrutinized annually in an external audit to make sure we maintain the required standards in both technology and procedure. Any significant changes to the platform require a third-party audits and testing before they can be implemented.
Security is one focus of Secure Payments; the other is payments.
This includes multiple payment options, scalability, volume, and accuracy.
Secure Payments is not just secure in theory
We process 668,000 transactions per month, and store about 4,300,000 encrypted payment profiles. Secure Payments is used to process more than $300,000,000 in payments each month. This level of activity requires that we operate securely for each transaction, thousands of times each day.
Secure Payments has been able to operate with significant volume for almost five years without losing any data or allowing any unauthorized data access.
Tried and Tested Payment Processors
Secure Payments integrates with both bank-card and ACH processors. We have a thorough vetting process for each of our integrated partners. This includes verifying the processor’s PCI Compliance, testing their customer service, and ensuring that their solution is reliable.
Our goal is to find processors that will accept our customers and provide them with a high-quality experience.
Many of these processors were set up to be a lending resource and are capable of accepting lenders that have had a hard time getting accepted in the past. Our list of integrated processors includes:
- EFT Canada
NACHA (US) and CPA-005 (Canada) Payments
Many of our large customers work directly with a financial institution to process payments. Secure Payments will generate NACHA and CPA-005 files and provides an easy upload for return files, which automatically changes transaction statuses and documents return codes.
If you prefer to do your own transaction scrubbing and build your own file, Secure Payments provides built-in transaction batching, and our support team can provide guidance to ensure transactions are processed correctly.
NACHA / CPA-005
Try LoanPro for Free
When you sign up for a free trial of LoanPro’s LMS, a trial of Secure Payments is included. This lets you try our SOC-certified LMS and our PCI-certified payments platform before you buy them, so you can see how seamlessly they work together to make your lending easy, while providing peace of mind.