Enter the AngelPay Foundation, a nonprofit payment processing company. The AngelPay team originally invented the first secure, scalable, and reliable Internet payment processing platform called Authorize.Net back in 1996.
Today, they provide the same tools and service, but they believe operating as a nonprofit helps to restore trust and integrity to the industry. It also gives the team an opportunity to give back to the merchant community that has been good to them over the years.
“Over the past couple decades, we’ve seen a lot of companies resort to shady tactics to satisfy shareholder demands. If you’re operating as an aggressive for-profit company in this industry, there are just too many temptations to exploit your customers,” says Ferris Eanfar, AngelPay’s CEO.
“The credit card payment processing industry has not always treated merchants fairly, and we realized we could do something about that,” says Jeff Knowles, AngelPay’s CTO.
Payment processing can be a challenge for businesses large and small, nonprofits, and artists who need to accept credit cards. AngelPay recognizes that many merchants feel exploited by their existing payment processors, but they don’t know where to go.
To this end, AngelPay believes that merchants can benefit from its payment processing program for the following reasons:
A Solution for Merchant Pain. AngelPay developed their “Pay-What-You-Can” pricing structure and “Emergency Contract Triage” program. “The Triage program started out as a way to add a little levity to the lives of our merchants, but we’ve been surprised at how many merchants have taken it seriously,” says Eanfar. The programs help merchants manage their costs more effectively, in addition to revealing how they’re being exploited by other payment processors.
Simplicity. One of the things that differentiates AngelPay from other payment processors is the simplicity of its fees and nonprofit cost structure. Anybody who has ever implemented credit card processing for their company knows that the complex fees of most processors can be frustrating.
Proven Experience. AngelPay was launched several years ago after the team sold Authorize.Net, but AngelPay has grown quickly and its mission – “Return wealth and power to the creators of value” – seems to be resonating with the merchant community. Given the cost advantages, it makes sense that merchants would choose a veteran team operating as a nonprofit provider over more aggressive financial companies that may not have their customers’ best interests at heart.
To learn more about AngelPay, visit: https://AngelPayHQ.org