Founded in 2007 as Iridium Corporation, PayVector offers a wide range of payment solutions using a next-generation processing platform, developed entirely in-house. It was re-branded as PayVector to reflect the scalability of its products. PayVector supports all types of payments processing through multiple channels, including e-commerce, m-commerce, mail/telephone orders and cards.
Its payment gateway and virtual terminal work seamlessly to process payments. Its system is easy to use and its comprehensive reporting tools make it easy to assess payments. Additionally, PayVector’s payment gateway integrates with many free and premium shopping carts.
PayVector currently powers payment brands all over the world, including some of the largest payment providers in the UK. PayVector’s gateway processes payments for 38,000 merchants of all sizes, totaling $2.8 billion transactions per year.
What PayVector doesn’t do is offer merchant account services. Instead a partners with many large (and some) very well-known acquirers in the industry. PayVector secures merchant account rates through the following partners, Credorax, Allied Irish Bank Merchant Services, Barclays Merchant Services, American Express, Elavon, First Data Merchant Services, Post Bank, Lloyds Cardnet, Max Payments, National Australia Bank (NAB), Global Payments, Valitor, and WorldPay.
Though PayVector does promise to offer some of the lowest rates because it works with so many acquirers and it does give rate ranges, it is very difficult to get a concrete pay estimate without dealing with its acquirers directly.