About Velocity Payment System
A payment processing platform for financial institutions and government agencies. It supports multi-channel payment capture, including ACH, credit/debit cards, and digital wallets, with integrated reporting and reconciliation tools.
Velocity Payment System, now part of CSI's financial services suite following the 2024 acquisition of Velocity Solutions, is a specialized payment processing platform primarily serving community banks, credit unions, and government entities. It is designed to handle high-volume, multi-channel transactions, offering a secure gateway for ACH, credit, and debit payments. The platform is particularly noted for its ability to integrate with municipal billing systems and core banking platforms, providing a turnkey solution for organizations that need to modernize their payment intake without building custom infrastructure. Key capabilities include hosted payment pages, real-time reconciliation, and robust fraud prevention tools. While it is a powerful tool for institutional use, it is not a self-service SaaS product for small businesses; implementation typically involves a partnership with CSI. Buyers should expect a consultative sales process rather than a public, self-serve pricing model. The system's strength lies in its deep compliance features and its ability to bridge the gap between public-facing payment portals and back-office accounting systems.
Pros & Cons
- Provides a highly secure, PCI Level 1 compliant environment for processing sensitive financial transactions.
- Integrates seamlessly with core banking and municipal accounting systems to automate reconciliation.
- Supports a wide range of payment methods including ACH, credit cards, and digital wallets.
- Offers robust administrative tools for real-time reporting and transaction tracking.
- Pricing is not publicly available and requires a consultative sales process.
- Implementation is geared toward institutional clients rather than individual small business users.
- Not a self-service platform, requiring coordination with CSI for setup and integration.
Features
Key features
Supports payments via web, mobile, and in-person channels for diverse constituent needs.
Provides real-time reporting and data transmission to back-office systems for streamlined accounting.
Offers PCI Level 1 compliant payment processing with tokenization to protect sensitive financial data.
Enables processing of ACH, e-check, and major credit/debit card transactions.
Tailored for municipal and utility billing cycles with built-in administrative reconciliation tools.
Additional features
Tracks payment status and activity across all integrated channels.
Provides secure, web-hosted portals for customer-initiated payments.
Includes tools to identify and mitigate fraudulent transaction attempts.
Allows administrators to generate reports for financial tracking and audit purposes.
Replaces sensitive card data with secure tokens to reduce PCI compliance scope.
Facilitates automated billing for subscription or utility services.
Ensures payment portals are accessible across various mobile devices.
Maintains logs of transaction history and administrative actions for compliance.
Pricing
Countries & Languages
Interface languages
Billing currencies
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About Velocity Payment System
A payment processing platform for financial institutions and government agencies. It supports multi-channel payment capture, including ACH, credit/debit cards, and digital wallets, with integrated reporting and reconciliation tools.
Velocity Payment System Details
Velocity Payment System's In-App Market Place
Does Velocity Payment System have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
10
Mini Apps
1. Reporting Add-On: This add-on provides advanced reporting features for the Velocity Payment System
allowing users to generate custom reports and track payment data more efficiently.
2. Fraud Detection Add-On: This add-on integrates with the Velocity Payment System to provide real-time fraud detection capabilities
helping users to identify and prevent fraudulent transactions.
3. Loyalty Program Add-On: This add-on allows users to create and manage loyalty programs within the Velocity Payment System
enabling businesses to reward loyal customers and drive repeat business.
4. Inventory Management Add-On: This add-on integrates with the Velocity Payment System to provide inventory management capabilities
allowing users to track and manage product inventory levels in real-time.
5. Marketing Automation Add-On: This add-on enables users to set up marketing automation campaigns within the Velocity Payment System
allowing businesses to automate customer communication and drive sales.
Pricing Options
Accepted Payment Currencies
USD ($), EUR (€), GBP (£), AUD (A$), CAD (C$), JPY (¥), CHF (CHF), NZD (NZ$), SGD (S$), HKD (HK$), SEK (kr), NOK (kr), DKK (kr), ZAR (R), INR (₹), CNY (¥), MXN (MXN$), BRL (R$), RUB (₽)
Pros & Cons
- Provides a highly secure, PCI Level 1 compliant environment for processing sensitive financial transactions.
- Integrates seamlessly with core banking and municipal accounting systems to automate reconciliation.
- Supports a wide range of payment methods including ACH, credit cards, and digital wallets.
- Offers robust administrative tools for real-time reporting and transaction tracking.
- Pricing is not publicly available and requires a consultative sales process.
- Implementation is geared toward institutional clients rather than individual small business users.
- Not a self-service platform, requiring coordination with CSI for setup and integration.
Velocity Payment System's Support Options
Email Address
support@velocitypayments.comContact
1-800-483-8815Documentation
https://www.velocysolutions.com/resources/Community Forums
https://community.velocysolutions.com/Velocity Payment System's Alternatives
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