There and back again.
There and back again payments.
Helping businesses grow thru debit cards.
Once upon a time...
In 2009, while delivering card to card money transfers, we were puzzled by the high debit card fees charged by our processor. In 2013, we provided card disbursement solutions to lenders, but the high debit card collection fees hurt adoption of our disbursement product. High fees due to perceived risk suppress the natural use of debit cards for industries dealing in money.
Cards for payments provide big benefits over ACH: (i) guaranteed payment on authorization vs. ACH returns days later (ii) address verification on a card (iii) instant posting to bank account when collecting or disbursing funds vs. hours or days with ACH (iv) consumers prefer their cards.
Washington was trying to help merchants.
In 2011 the Durbin Amendment to the Dodd-Frank Financial Reform Act sought to empower merchants when taking card payments by creating competition and regulating certain fees. Cards are secure, fast, eliminate ACH return problems/fees, and are preferred by customers for payment.
Is anybody listening?
Why don’t lenders and money service businesses use cards for all payments – paying installments, loading an account? Why don’t these businesses provide instant funds transfer to a card? High fees! The fees are stopping industries from providing great products. Nobody told merchant Processors about Durbin. TabaPay was founded to continue the payment evolution.
TabaPay is listening!
The card networks have unique pricing for your industry - aimed to increase card acceptance. Why shouldn’t your company benefit? Contact TabaPay
to begin your journey.