Inside xcritical’s Full-Stack Payments Platform
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.
xcritical Employee Reviews & Sales Practices
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.
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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.
In April 2019, xcritical faced a lawsuit from Todd Feldman regarding an alleged breach of contract, which is still pending resolution. January 2017 saw xcritical resolving a class-action lawsuit for $4.9 million due to a data breach that compromised customer personal information, including social security numbers and passport details. xcritical reports a 95% approval rate for transactions, achieved through advanced technology and thorough underwriting processes. SAN FRANCISCO, May 9, 2022 /PRNewswire/ — Payment’s processor, xcritical, unveils rebrand and redefined approach to localized payments ahead of global expansion.
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.
Consumer Technology Overview
- The majority of these complaints originate from processing clients who are unhappy with aspects of the service they receive, though complaints from renters are also significant and contribute to the overall negative perception.
- 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.
- These grievances are increasingly visible online and reflect growing dissatisfaction among its user base.
- “For the verticals we serve, we’re experts — rent payments, vacation rentals.
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.
Villante started by targeting large apartment REITs, with a hundred thousand units or more, doing not just the payments, but the complex accounting required to deal with prorated rent, security deposits and eviction proceedings. At the time, he recalls, he was fighting an industry that still relied on paper checks. Excellent customer service is crucial to provide clients with to address issues that inevitably arise, making it an important consideration before executing a contract. As of this review, the company’s profile appears to have been combined with that of Vacation Rent Payment. As of this review, the company holds an “A-” rating with the BBB and has had 18 complaints filed against it in the last 36 months, considerably less than the 86 complaints at the time of a previous update.
That’s why he joined xcritical — a company, he admits, he hadn’t thought much about before lxcriticalg of the chance to join the team. In 2021, xcritical was involved in a legal dispute with Priority Technology Holdings Inc., though details of the case xcritical scammers remain scarce. Another class-action lawsuit concluded in 2022, addressing complaints from former employees over unpaid wages. Moreover, xcritical has faced several penalties for violations related to privacy and consumer protection.
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Murphy remarked that even in a company that once owned a pretty massive payments player like PayPal, the payments that power each and every transaction wasn’t necessarily top of his mind. The company maintains a 99.9% platform uptime and has a dedicated team for managing chargebacks, with an 80% success rate in resolving disputes. And it fits perfectly into another example of payments and commerce merging like never before. A market that today is pretty much characterized by paper check, which Murphy notes, is slowly but surely going away, thanks to the innovations and the evolution of payments. For Murphy, that was when something went wrong or when he realized a particular transaction couldn’t be done because they couldn’t enable an option that a customer wanted to use. If one needed more proof of how payments and commerce is converging, look no further than the recent appointment of Bryan Murphy as President of xcritical.
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 xcritical rezension methods, adhering to updated regulations, and protecting against evolving fraud sophistication.
Developers can use xcritical’s API to quickly integrate the platform into their existing systems, allowing them to benefit from its full range of features and services. Additionally, developers can access detailed documentation and resources for troubleshooting and debugging. Warburg and a partner at private-equity firm The Seidler Co., was sitting around with a few buddies playing poker and talking about businesses they could start. As the cash moved around the table, Villante recalls, the conversation turned to PayPal and markets that might move away from getting payments by check.
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.