Payment Adviser: A New Direction for Electronic Payments

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Rick Verloop, Ceo of Hr3(Partner), Payment Adviser

In this digital era, payment innovation is making headlines. It is even surprising as there is always something new and exciting to report. Although there is evolution in the payment and technology spaces, if a consumer is not comfortable with the payment methods, it will utterly go in vain. Only consumer engagement will open the door to new avenues of opportunities for all players in the payment space. Payment Adviser is one such company that plays a vital role and steers towards a new direction for electronic payments.

Who we are?

Established in 2008, Payment Adviser, a spearheading innovator in Payment Technology, aims to market integrated electronic payment remittance models for the business and government sectors. From the concept stage, the process of bringing integrated electronic payment remittance models to market started in 2004, through research and development to the launch phase in late 2008. In 2010, remittance exchange models were introduced in Australia to different business verticals: for superannuation payments (pension), payroll and other deductions, benefit payments, and general payables. Integrated electronic payment models are available for all known payment systems and infrastructures including credit, debit and prepaid cards.

Payment Advisors specializes in helping ISOs, agents and financial institutions secure payment solutions for high-risk and hard-to-place clients.

The company makes it so easy for merchants to capitalize on high-risk and hard-to-place opportunities and guarantee on-time residual payments without the typical hassle of self-placement or working with another vendor.

“A simple call or email is all you need the rest is handled by Payment Advisors,” says CEO.

ClickSuper – Remittance referencing and linking payment model

Introduced in 2009, Payment Adviser’s unique remittance referencing and linking payment model, ClickSuper, aims to transition traditional cheque and paper-based payment processes for Australia’s AUD$1.4 trillion superannuation industry to e-commerce.

In 2009, payments from employers to individual employee member accounts before investment was taking an average of 21 working days.

Headquartered in Sydney, Australia, Rich Warner Actuaries were asked to review the ClickSuper model and estimated at the time that the model would automate payment processing for employers and reduce time to account allocation ready for investment to less than 5 days; the model would reduce superannuation fund administration costs by AUD$ 4.6 billion over 10 years if automatic contribution processing based on the model were introduced.

The Australian Federal Government plans to introduce legislation that mandates the use of electronic contribution payments and fund rollovers. The legislation will be based on the integrated electronic remittance model introduced by Payment Adviser in 2009.

“Our customers easily manage superannuation payment processes, from validating fund details through to employee data upload, and payment of their employee contributions,” says CEO.

Features of Payment Adviser

Payment Adviser has developed unique remittance referencing and linking middleware for integration with all electronic payment systems including cards. Payment Adviser has many features as follows:

  • No barrier to electronic payment migration;
  • Drives payment and remittance processing efficiencies;
  • Improves control over payment operations;
  • Suitable for payment system architectures;
  • Innovative options for real-time payments;
  • Immediate data availability with fast payments and real-time settlement.

Mission

Payment Adviser provides solutions that are custom-tailored to meet the need of each and every merchant. In addition to processing services, the company provides one-stop shopping for all the latest payment technologies and forms including credit, debit, ACH, eWallet, and many more.

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