Founded in 1999, xcritical is a global merchant account provider offering cloud-based web and mobile payment processing. Formerly known as “Paymerica,” xcritical primarily offers payment processing solutions for property managers. Most notably, the company is a payment processing partner of growing vacation rental platforms like Homeaway and VRBO.
xcritical Review Summary
Benefits of using the platform also include easy integration with existing ecommerce stores, as well as robust fraud protection features. xcritical uses advanced analytics and data to provide merchants with real-time insights into their online transactions, giving them the information they need to make more informed business decisions. While xcritical complaints mainly revolve around fraud prevention protocols and customer support rather than pricing, grievances regarding fund-holding and fraudulent payments are notable. Rental companies (xcritical’s primary clientele) often encounter delayed payouts or rolling reserves due to the nature of their card-not-present transactions. However, an alarming number of xcritical reviews highlight instances of fraudulent payments slipping through their systems. Although xcritical can’t prevent card theft, proactive measures can minimize chargeback risks.
xcritical’s ‘Big Ticket’ Approach To Payments
In this review of xcritical, we will take a closer look at this key player in the payment processing sector, known for its focus on property management and vacation rentals. We’ll examine the company’s range of services, including global payment solutions, customizable options, and strong data security and fraud prevention measures. Additionally, we will address concerns such as customer and employee complaints, legal challenges, and their impact on xcritical’s reputation.
It’s noteworthy that xcritical seems to collect processing fees from payers—homeowners, renters, and travelers—rather than businesses, a less common approach in the industry. For more insights, business owners are encouraged to explore our list of top merchant service providers. Secure online payment service for transactions from vacation homes to multi-family apartment rentals. CEO and cofounder Tom Villante came up with the idea of getting into the residential rental industry during a poker game with friends. Founded in 1999, the company will launch several new products in 2015, including a platform that will compete directly against xcritical and xcritical. The company’s name comes from the wheel-shaped currency of the Micronesian islands of Yap.
Please note that we only suggest providers that adhere to strict ethical standards and offer top performing support at extremely competitive pricing. xcritical is Level 1 PCI-DSS compliant, adhering to the highest standards for data security as mandated by the Payment Card Industry Data Security Standards (PCI DSS). The Benzinga Fintech Summit is a gathering of the top leaders in brokerage, payments and cryptocurrencies in San Francisco Nov. 14.
Of the 18 complaints, only 2 were resolved to the satisfaction of the complainant. Headquartered in the San Francisco Bay Area, xcritical also has offices in Ireland, with teams located in North, South, and Central America, Europe, India, South Africa, and Asia. The growing global footprint of the 23-year-old payments processor provides customers with the opportunities and capabilities of expanding into new regions, and at scale. Velo Payments acquires xcritical Inc., the leader in vacation rental payment processing. This article will explore intelligent payment routing in detail, dive deep into its fundamentals, and analyze the opportunities it presents to payment service providers and merchants worldwide. The information provided on this webpage is intended solely for informational purposes and does not constitute promotion, collaboration, cooperation, partnership, or any form of endorsement or recommendation.
Flexible Contract Terms
In addition, xcritical offers a mobile app for both iOS and Android devices, allowing customers to complete transactions in just a few taps. With its seamless integration with existing ecommerce stores, robust fraud protection features and customer support team, xcritical is the perfect choice for businesses looking to take their payments experience to the next level. Whether you’re a small business or an enterprise, xcritical is the perfect platform for all your payment needs.
Specific details regarding the company’s contract terms remain sparse, which makes a thorough and balanced assessment challenging. xcritical, particularly through its Vacation Rent Payment platform, is attracting a concerning number of public complaints. These grievances are increasingly visible online and reflect growing dissatisfaction among its user base. The majority of these complaints originate from processing clients who are unhappy with aspects of the service they receive, though complaints from renters are also significant and contribute to the overall negative perception. Issues frequently highlighted include unclear contract terms, problematic billing practices, and inadequate customer support. Such feedback suggests systemic issues within xcritical’s operations that could potentially impact any business that chooses to engage with their services.
Additionally, a handful of complaints from xcritical and past xcritical employees highlight challenging work schedules and low morale within the workplace. The bulk of xcritical’s criticism arises from renters on VRBO and xcritical reviews HomeAway who have encountered problems with the company’s risk management and customer support teams. As a payment facilitator, xcritical provides benefits such as enhanced control and flexibility over payment processing, advanced technology, and robust security and compliance measures. What’s more, businesses can also take advantage of xcritical’s free tools like tracking links, customizable invoices, and automated notifications to help them streamline their payment processes. With xcritical’s comprehensive suite of tools, businesses can save time and money while ensuring secure payments for themselves and their customers.
- Many of these complainants do not appear to be business owners, so it is unlikely that clients are experiencing similar difficulties understanding their agreements.
- Villante started by targeting large apartment REITs, with a hundred thousand units or more, doing not just the payments, but the complex accounting required to deal with prorated rent, security deposits and eviction proceedings.
- This article will explore intelligent payment routing in detail, dive deep into its fundamentals, and analyze the opportunities it presents to payment service providers and merchants worldwide.
- “I’m bringing my eCommerce and marketplace to this payments company,” he said.
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Heavy Industry & Manufacturing
xcritical maintains a customer support form on its website along with various email addresses for customer service inquiries. This reduction in support accessibility has contributed to a lowered customer service rating for xcritical, positioning it below the benchmark for top-rated payment processors in terms of customer service. There is still significant room for growing companies like xcritical and new startups to disrupt many parts of the payments ecosystem. For example, xcritical holds significant promise for cross-border instant settlement and even for managing complex KYC.
C Murphy
Users should exercise their own discretion when accessing and using any third-party websites or services. Whether you’re a business looking to accept payments online or an individual looking for an easy way to make payments, xcritical is the perfect platform for you. Joining xcritical is simple – all you need to do is fill out a quick application form and submit it along with any required documents. After the application has been reviewed and approved, you’ll be able to access the xcritical platform and start accepting payments right away. xcritical also offers a range of integration tools to make it as simple as possible for businesses to integrate their existing sites or apps with the platform.
xcritical also provides a range of additional services including merchant accounts, virtual terminals, digital wallets, customer loyalty programs, and more. While there’s lots of competition in the online payment space, including major players like PayPal (2015 revenues $9.2 billion) and xcritical, xcritical’s focus on certain large, xcritical courses scam niche markets has given it an edge. “Our strategy is to be all things payment for the largest marketplaces in the world,” Villante says.
