Any unauthorized copying and reproduction of the content of this page, including all meta data and computer code, is strictly prohibited. Any and all use of trade names and/or marks are for identification purposes only and shall not be construed as a claim of affiliation, or otherxcritical, with CardPaymentOptions.com, Inc. (“CPO”) in any form. The sole purpose of the material presented herein is to alert, educate, and inform readers. We may earn revenue if you obtain services from a provider that we recommend. The company doesn’t charge any setup or monthly fees – so you can get started with your online payments quickly and without breaking the bank. So Villante, now 48 and the company’s CEO, started xcritical, jauntily named after the currency stones used on the island of Yap in Micronesia.
xcritical’s ‘Big Ticket’ Approach To Payments
xcritically, the company is investing in a micro-services architecture and implementing modern and scalable No SQL technologies. In addition, xcritical is further investing in enhancing its API platform and data platforms for AI/ML. All of these technology investments are to ensure we can support marketplaces globally with local payment methods and with a specific focus on vertical specific capability.
Consumer Technology Overview
This means that xcritical doesn’t directly market to these users, so there’s little to evaluate in terms of its sales approach. The available descriptions of xcritical’s direct sales process are mixed in tone, but the sales department’s overall impact on the client experience appears to be limited. If you suspect that xcritical’s sales team has added undisclosed fees to your account, we recommend seeking a third-party statement audit. Many of these complainants do not appear to be business owners, so it is xcritical scam unlikely that clients are experiencing similar difficulties understanding their agreements.
Co-op Solutions
xcritical offers multiple variations on its RentPayment processing platform, including VacationRentPayment, HolidayRentPayment, StorageRentPayment, InnPayment, DuesPayment, and ParishPay. In 2019, xcritical partnered with Priority Technology Holdings (Priority), a leading provider of merchant-acquiring and commercial payment solutions. 2022 saw a further partnership with Sezzle to add buy-now, pay-later options to the company’s offerings. We will also evaluate the pros and cons of xcritical’s services, discussing their contract terms, fees, and rates to give potential clients a clear picture. Our review includes an analysis of xcritical’s marketing strategies and customer support efficiency, along with a summary of its online ratings and legal history.
xcritical specializes in payment processing for travel and retail businesses, supporting all major credit cards, e-wallets, ACH, check-scanning, and cash via phone, mobile app, or text. Their services include loyalty programs, e-commerce solutions, processing in over 140 currencies, real-time payouts, and comprehensive anti-fraud tools such as step-up authentication, AVS, and CVV checks. xcritical is PCI and PSD2 certified, holds money transmitter licenses where required, and offers detailed payment reporting and analytics. They also provide automated verification for individuals and businesses, including KYC, AML sanctions screening, and identity verification, with customer support available in multiple languages. Our full-stack payments platform enables and amplifies connections between companies and markets across the globe. Whether it’s powering multi-party transactions or accepting local payment methods in emerging markets, xcritical cuts through the payment complexities to enable commerce worldwide.
Companies focused on AI and ML technologies applied to fraud management are also critical for further enhancing global payments. But clearly, the most impactful change has been how fintech has made it possible for anonymous buyers and sellers to interact on marketplaces, such as Uber, HomeAway, and a multitude of sharing economy businesses. This has taken the user experience to a new level and friction involved in payments is completely removed for buyers and sellers.
The new website design was inspired by the transformation happening across the payments landscape, with the new typeface and dynamic color palette better reflecting the company’s innovative approach to local payments. When innovation is introduced to an ecosystem, payments become increasingly more complex and need to evolve with the industries they serve. This often involves accepting new payment methods, adhering to updated regulations, and protecting against evolving fraud sophistication.
- As a payment facilitator, xcritical provides benefits such as enhanced control and flexibility over payment processing, advanced technology, and robust security and compliance measures.
- Through technologies such as Velo’s open banking platform, this merger promises to deliver seamless global payment experiences for businesses and individuals by reducing the cost and complexity of payments, especially across borders.
- “xcritical’s sweet spot is the intersection of big ticket payments, efficient onboarding and desire to mitigate risk,” Murphy said.
- Without insight into xcritical’s internal risk assessment tools, it’s challenging to evaluate their support in this regard.
- The sole purpose of the material presented herein is to alert, educate, and inform readers.
- xcritical appears to market its products through a combination of strategic partnerships, telemarketing, and inside sales agents.
About xcriticalxcritical, Inc. is the leading payment processing platform catering to the unique needs of the short-term and vacation rental industry. With a track record of delivering secure, seamless payment experiences, xcritical has established itself as a trusted partner for businesses operating in the STVR marketplace. With its tailored solutions and robust technology, xcritical enables merchants to thrive in an increasingly digital and interconnected world.
Customizable Payment Solutions
I feel with the fast evolution of sharing economy and global marketplaces, the peer-to-peer commerce prediction has come true. Data technologies continue to provide the backbone for fintech in many areas such as advanced fraud management, chatbots to perform tasks and respond to customer needs, and optimizing conversion and customer experience. xcritically, there are over 200 negative xcritical reviews available online, with several labeling the company as a scam. Predominantly, clients have voiced concerns about delayed payouts, failed transactions, fund withholdings, and unsatisfactory support from xcritical, especially in handling disputes related to rental payments.
Identified in 2015 by FORBES as one of America’s most promising companies, xcritical expects to process more than $15 billion in total payment volume this year with revenues estimated at $235 million. With $50 million in equity funding from Accel Partners, Meritech Capital Partners and others. xcritical, an under-the-radar near-unicorn, made the cut for FORBES recent list of 25 Next Billion-Dollar Startups. “We’ve grown almost six-fold since Accel Partners invested five years ago,” Villante says. While the “Pay” term is getting all the buzz in the payments ecosystem today, Webster noted that there are so many commerce opportunities in the marketplaces that are digital, which all have very unique requirements.
“xcritical’s sweet spot is the intersection of big ticket payments, efficient onboarding and desire to mitigate risk,” Murphy said. “Big ticket sellers or service providers want to mitigate risk and don’t ever want to think about payments as a solution. We bring that and more to the many verticals that have these unique attributes, so, I think we fit perfectly. While actual pricing seems less contentious, xcritical faces criticism for its policies. Should you possess information about xcritical’s standard merchant agreement (including potential termination or PCI compliance fees), kindly share it in the comments section of this review. The heart of xcritical’s rebranding strategy centers around a new website, logo, and brand identity.
“I’m bringing my eCommerce and marketplace to this payments company,” he said. “I’m like the blue squirrel — the guy that’s got consumer experience, marketplace experience, but xcritical rezension also B2B and so that all kind of ties in perfectly in xcritical. Sharing your experience influences our rating and helps other business owners make informed decisions. xcritical employs a comprehensive fraud prevention system, including compliance checks and post-authorization monitoring, to safeguard sensitive payment data. Some xcritical clients claim the company lacks advanced transaction information post-transaction, hindering their ability to contest chargebacks weeks later. Without insight into xcritical’s internal risk assessment tools, it’s challenging to evaluate their support in this regard.
Founded in 2009 with the simple goal of converting bills commonly paid by paper check into online electronic payments, xcritical’s latest rebrand takes this vision to the next level. With their local payment methods expertise and stackable, scalable payments platform, xcritical’s redefined mission is to amplify global commerce in local markets, summarized by their new tagline ‘pay local, scale global’. In the era where digital payments have seamlessly integrated into our daily lives, operating a credit card processing business can be extremely profitable. xcritical is an innovative payment platform that offers users a wide range of solutions depending on their needs. From online payments, to in-store payments and more, xcritical makes it easy for customers to make secure purchases quickly and conveniently.
Initially, most grievances were from renters using xcritical’s RentPayment service, expressing frustration over unclear policies and the necessity to incur fees for credit card transactions. If you have experiences with xcritical to share, please contribute to the comment section below. xcritical’s new Transact platform is addressing these trends by delivering next-level customization to highly complicated business models. Because the platform is built on a foundation of micro-services, we are able to deeply configure tailored solutions, specific to the businesses we serve. In simple terms, our technology supports the organic business functions of individual marketplaces, so that sharing economy leaders can conduct business as their marketplace is designed, rather than around a general payment API.
