Prime Payment Solution: Simple and Cost-Effective Merchant Payment Processing

George Krinos, President In today’s world of cashless transactions and paperless currencies, merchants are quickly integrating various payment processing systems to accept electronic payments and grow their business. Typically, they approach a payment processing agent to get started. However, the challenge is that most agents only offer the services of a single payment processor and a few loyalty programs at a particular cost. Alongside, the merchant may have to pay hidden fees and mark-up charges as high as 2.9 percent on each transaction to the payment processor, COVER STORY taking away a significant portion of their profits.

Changing the dynamics of payment processing, Prime Payment Solution brings forth the services of multiple payment processors along with multiple loyalty programs. The company offers a wide variety of payment processors for merchants to choose from without any mark-ups or hidden fees. “Prime Payment Solution fosters fair, transparent, and simple payment processing, assisting merchants in availing the benefits of lower fees and increasing their revenue,” says Krinos, Vice President, Prime Payment Solution.

As a maven in the payment processing industry, George Krinos faced similar challenges firsthand a decade ago. During his stint as an agent, Krinos struggled to attract new merchants mainly due to the inability to offer affordable prices. From 2016, he spent four years devising a solution to the existing pricing problem and established Prime Payment Solution, a payment processing company that not only caters to merchant requirements but also supports agents.

The key differentiator of Prime Payment Solution is its exclusive focus on empowering agents to better assist merchants. The company’s agents undergo a week-long training by well known and respected national payment processing trainers to enhance their capabilities in terms of servicing merchants. The training includes all the minute details as to the payment processing needs, how to handle calls, price a client, prepare for a presentation, and more. Prime Payment Solution trains its staff according to industry needs to provide high-quality services to clients.
Unlike other competitors whose agents are driven by the motive of closing leads quickly, the company’s agents are well trained to perform extensive discovery to assess a merchant’s payment processing needs and apt services.

A Range of Payment Processors

Prime Payment Solution’s agents understand merchant requirements and expectations from processing providers, which helps boost a merchant’s business. Agents then present the most suitable solution that not only aligns with the merchant’s goals, but also offers the best rates and fees on payment programs after analyzing each merchant’s specific situation and needs. In fact, the agents can also show illustrative data on how much the merchant will approximately save by opting for a particular payment processor.

With Prime Payment Solution, merchants can get a flexible and simple way of processing payments, create customized loyalty programs to increase customer engagement, quickly settle accounts, and easily process debit and credit card transactions with minimum charges. The company offers three main programs: interchange plus, flat rate fee, and cash discount. Interchange plus enables merchants to determine the cost per transaction and the actual profit without getting into the details. The company keeps track of any changes in interchange fees that may impact the merchant’s business and keeps them informed to ensure they get the best deal. With a flat-rate fee, Prime Payment Solution allows merchants to pay only a single fixed fee for all aspects of processing without any hidden charges. Similarly, the cash discount program enables merchants to create attractive discounts for their customers when paying in cash for their purchases, in turn offsetting payment processing costs.

With strong agent support, the company has successfully saved thousands of dollars in transactions fees for its merchants by providing affordable, scalable, simple, and secure payment solutions. Since Prime Payment Solution offers six processors, it can provide multiple variations of programs with different fees and rates to curate the ideal program for merchants to save money. “Our goal is to help as many business owners as possible with payment processing to increase their bottom line,” says Krinos. The company has served a wide variety of merchants across verticals such as retail, non-profit, restaurant, hospitality, and more to take advantage of payment processors at a cost as low as 0.05 percent per transaction. Recently, one of the merchants was able to save $250 a month when processing $20,000.
Well-Trained & Qualified Agent Support

Prime Payment Solution puts some of the best resources at the disposal of agents. The company’s team constantly monitors how the processing is working out for merchants and if they have feedback for enhancements. Prime Payment Solution offers exemplary support to merchants through 24/7 access to their agents, who are equipped with a personal phone line and extension, allowing merchants to reach out to them at any time. Prime Payment Solution empowers its agents with all the tools and training for them to be successful in assisting merchants grow their business. The company follows a unique approach of putting its merchants first and agents next, which are its two profit centers.

"Our Goal Is To Help As Many Business Owners As Possible With Payment Processing To Increase Their Bottom Line"

To further empower agents, Prime Payment Solution invests time and effort in equipping their agents with dedicated telemarketers who identify leads and schedule appointments. The telemarketers work around the agents’ schedules to assist them better. By ensuring that the agents have the required training, education, and back-office support from qualified staff, the company offers huge savings to clients when it comes to rates and programs.


Prime Payment Solution Fosters Fair, Transparent, And Simple Payment Processing


Lower Margins, Higher Profits

Backed by a team of determined professionals looking to change the narrative of merchant payment processing, Prime Payment Solution is already heading toward the path of growth. Focusing on its profit centers, Prime Payment Solution is looking to expand its team and add new agents that are highly qualified and align with the company’s goal of helping merchants grow. While the company has a carefully plotted roadmap, it is focusing on a steady pace to ensure each agent is fully trained and vetted to uphold its reputation. “With a strong team of experienced agents and professionals, our end goal is to empower merchants to make the profits they deserve by cutting down unnecessary costs in payment processing,” concludes george.

Company
Prime Payment Solution

Headquarters
Boardman, OH

Management
George Krinos, President

Description
Prime Payment Solution brings forth the services of multiple payment processors along with multiple loyalty programs. The company offers a wide variety of payment processors for merchants to choose from without any mark-ups or hidden fees. Prime Payment Solution’s agents understand merchant requirements and expectations from processing providers, which helps boost a merchant’s business. Agents then present the most suitable solution that not only aligns with the merchant’s goals but also offers the best rates and fees on payment programs after analyzing each merchant’s specific situation and needs.

Prime Payment Solution