PromisePay is licensed, certified, bonded and fully compliant in the USA and Australia as a Payment Services Provider (PSP), so you don't have to be.
Your marketplace will never need to comply with governmental, financial, or compliance regulations.
PromisePay is underwritten by Fifth Third Bank and as such, is fully authorized as a Payment Service Provider (PSP) in the USA. PromisePay can offer risk management services for card and bank based payments, transaction payment matching, reporting, fund remittance and fraud protection in addition to multi-currency functionality and services.
PromisePay is fully bonded with our partner banks in the U.S. and Australia, keeping all of your customers funds secure and fully protected.
All funds moving through PromisePay are securely held in insured custodian accounts. In the highly unlikely event we go out of business, your customers’ funds remains protected.
PromisePay is subject to regular audits by Visa, Mastercard and our partner banks to protect customer funds, approve operational safety and ensure complete escrow and PSP compliance.
PromisePay is a PCI DSS level 1 compliant service provider. Our Attestation of Compliance (AOC) is available on request. Additionally, all of your customers financial data is stored securely off site in a Level 1 PCI DSS compliant vault.