Processor Comparison
When choosing a processor, consider your onboarding and reporting requirements, the desired merchant experience, and any other operational needs.
If you have questions about processor capabilities, please reach out to .
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TSYS is in its beta phase, with the official launch expected in Q4 2024.
TSYS | PAYSAFE + FLEX BILLING | PAYSAFE | |
---|---|---|---|
Processing Capabilities | |||
Online payments | ✓ | ✓ | ✓ |
In-person payments | ✓ | Available in Q4 '24 | Available in Q4 '24 |
Bank-to-bank payments (ACH/EFT) | ✗ | ✓ | ✓ |
Currencies | |||
USD | ✓ | ✓ | ✓ |
CAD | ✗ | ✗ | ✓ |
Capabilities | |||
Apple Pay | In-person payments only | ✓ | ✗ |
Platform fees | ✗ | ✓ | ✗ |
Card funding type | Available in Q4 '24 | Available in API response | Available in API response |
Merchant Pricing | |||
Different pricing for Amex payments | ✗ | ✓ | ✓ |
Pricing template processing time | Instant | Instant | Up to 7 business days |
Pricing change processing time | Implemented for the following month, if requested before the 12th of the month | Instant | Up to 7 business days |
Billing Frequency | |||
Daily | ✗ | ✓ | ✓ |
Weekly | ✗ | ✓ | ✗ |
Monthly | ✓ | ✓ | ✓ |
Batch Cutoff Times | |||
Next-day funding (NDF) | 7:30pm EST | 4pm EST | 4pm EST |
Standard payout speed | 2:30am EST | 12am EST | 12am EST |
Payout Speed | |||
Next-day funding (NDF) | Default | In beta, requires UW approval | Requires UW approval |
T+0 | High-risk merchants | Default | Requires UW approval |
T+1 | High-risk merchants | High-risk merchants | Default |
Payout Type | |||
Gross payouts | ✓ | In beta | ✗ |
Net payouts | ✗ | ✓ | ✓ |
Payout Frequency | |||
Daily | ✓ | ✓ | ✓ |
Weekly | ✗ | ✓ | ✓ |
Monthly | ✗ | ✓ | ✓ |
Reporting | |||
Transaction-level fee details | ✗ | ✓ | ✓ |
Interchange qualification data | ✓ | ✓ | ✓ |
Onboarding | |||
Expected approval times | Same day, unless pended for additional information. | ||
Credit checks | A hard credit check will be performed on the application signee. Non-profits are exempt. | A credit check may be performed if additional verification is needed. | |
Agreements and digital signature | Merchant will be prompted to agree and sign their application via email. The email subject will be "Merchant services" and the sender is [email protected] In-app Docusign flow is currently in beta. | Merchant can agree and sign by clicking to agree in the application. | |
Documents | Merchants classified as Charities or Religious Organizations who indicate 501(c)(3) status must upload a 501(c)(3) determination letter to submit their application. | Documents are not required to submit the application. However, additional documentation may be requested after submission. | |
Risk | |||
Funding hold visibility | Available in Q4 '24 | ✓ | ✓ |
Funding hold resolution | TSYS will reach out directly to the merchant to resolve the funding hold. | Documents will be requested through the Dashboard to resolve the funding hold. | |
Disputes | Disputes can be managed through the Dashboard or API. Merchants will receive an email notification from Tilled and TSYS. TSYS's email subject will be "Chargeback Notification" and the sender is [email protected]. | Disputes can be managed through the Dashboard or API. |