#Clearent data guardian iso#

And our ISOs love it because they're not taking time away from sales to analyze residual reporting they can simply access their merchant account wherever they can log onto the Internet. With Compass there is complete transparency. 'They can view the dashboard reports in real-time on their merchant revenues and from any time frame. 'What we've done is design and create a residual report that doesn't come via anĮxcel spreadsheet in an e-mail, but it's online and easily accessible.

#Clearent data guardian iso#

'One way we keep merchants sticky is through our Compass online merchant reporting and the merchant statements we generate that are much clearer than the average statement,' said Jeff Fortney, Clearent's Vice President, ISO Sales Channel. For Clearent, it is the difference between reading the box score of a baseball game and being actively involved in managing the game, he said.

Compass is unique in that it provides what the company calls 'snapshots' of merchants that are immediately useable, Geraty said. For Clearent, developing and implementing the Compass management tool is all about access to data and being able to easily interpret that information. The company provides in-depth, useful information through an online merchant management tool called Compass.Ĭompass is presented in a 'dashboard' format that helps ISOs and MLSs quickly identify both at-risk and low-profit merchants, giving service providers the ability to find which merchants are gaining transaction volume or have potentially stopped processing altogether.

Geraty considers Clearent a 'generalist' in that it offers value-added services to its ISOs. Additionally, it increases the transparency and clarity of all data that our ISOs and MLSs receive.' Compass direction 'What is most important about this to the ISO and MLS community is that it enables greatly improved - specifically faster and more accurate - residual reporting and payments, as well as business management tools to make sure merchants are priced correctly and are providing a profitable situation to the ISO and MLS. Our payment engine does the qualification, the billing and the settlement directly now with Visa and MasterCard. 'And we're proud because the number of companies that have received this type of certification in the past 20 years can be counted in the single digits. 'This wasn't an easy process, but it truly validated the importance and capabilities of Clearent's technology,' Geraty noted. Many companies that develop platforms ultimately need to be retrofitted to 'get up to speed with PCI,' he said. The company's ISOs and merchants have better control over settlement funding and Payment Card Industry (PCI) Data Security Standard (DSS) compliance issues because Clearent built its platform around the PCI DSS. Better controlĬlearent's proprietary platform is designed to facilitate more efficient merchant settlement and easy-to-understand reporting. And in 2008, the company's back-end system was certified by Visa Inc. To remedy what he believed to be a void in the industry, Clearent built a back-end payment processing platform from scratch that focused on the needs of Clearent's ISO and merchant level salesperson (MLS) partners. Geraty felt there was no payment processing system designed specifically for the ISO market. We wanted to focus on more user-friendly interfaces that reduced training time and presented data in easy-to-interpret dashboard settings.' 'In addition, some of the legacy processing systems are notoriously difficult to work with. 'As everyone knows, data is getting more valuable every day, and legacy systems just don't do a good job of providing the information ISOs need to run their businesses,' Geraty said. It was clear to him that ISOs, financial institutions and merchants could benefit from a partner that had the capability to provide solutions tailored to their processing requirements.

When Dan Geraty, Chief Executive Officer of payment processor Clearent LLC, founded the company in 2005, he wanted to provide products and services he felt were missing in the payments industry.