Updated technology meets the unique needs of the emerging utility market, saving massive sums annually
SAN MATEO, Calif. – July 10 , 2019 — Qualpay, a leading provider of integrated omnichannel payment solutions, today announced integrations with Energy Engine LLC and Destwin, two leaders in the propane, fuel, oil and energy sector, to help them eliminate downgrades for their customers - saving those customers thousands of dollars monthly. In the energy industry, it is common for merchants to experience downgrades due to the unique way they run their businesses. Qualpay is the only payment processing platform in the market that has updated technology built directly into its platform designed specifically to meet the needs of this industry.
Legacy payment processing systems are built to function with generic business types and processes. However, as the energy industry evolved over the years and became its own class – the emerging/utility market – the technology operating with existing payment solutions became outdated. This incongruence inhibits the gateways from passing the necessary data between platforms, adding downgrade fees to the transaction and costing Energy marketers thousands of dollars every month.
Qualpay identified this as a major gap in the payment industry that required immediate correction and built updated technology directly into their platform to address the issue, saving merchants money on every transaction. By integrating Qualpay's software into their platforms, Energy Engine and Destwin can now offer those savings to the merchants utilizing their services.
"Many Energy marketers and subsequently their customers are not set up correctly for the industry they are in – not because the payment technology they are using is insufficient, but because it has not been updated to reflect the unique way the utility and emerging utility market does business," said Craig Gass, CEO of Qualpay. "However, because this gap is happening at the card brand level, there is little financial incentive for payment processors to make updates to their existing gateways. Qualpay didn't believe that was right so we set out to eradicate the issue at its crux."
"We can verify that the new, updated technology used by Qualpay is resulting in significant savings to our energy dealers. Upgrades to our Energy Engine e-commerce platform were also required to accommodate Qualpay's new technology, but considering the high dollar value for fuel transactions, it was worth our investment for the resulting savings to our clients. Our commitment to our clients is to stay abreast of improvements in payment processing companies including their ability to deliver the latest technology, provide a quality customer experience and minimize our clients' processing costs. Qualpay has delivered on their promise," said John Vrabel, President, Energy Engine.
On top of eliminating downgrades, Energy Engine and Destwin selected Qualpay for its additional features that serve their individual needs, including Qualpay's comprehensive portal that manages payments, payment histories and other transactions, as well as tracking and overseeing in-process transactions.
"Our Destwin® Fuel Dealer Solution™ provides Energy Marketers an online portal where their customers are able to log in and among other things, make payments online. There are a number of links in the chain involved with processing online payments and that process is only as secure as its weakest link. As a PCI DSS certified Level 1 Compliant Service Provider, Qualpay's gateway provides a strong link in that chain. In addition, Qualpay has extensive knowledge of the industry and the nuances needed to achieve the best card processing rates. We are glad to be able to offer the Qualpay gateway as an option for our customers," said Robert Kulawiec, Chief Operating Officer at Destwin.
Qualpay is a fully-integrated payments platform that utilizes the most up to date technology to reduce costs and streamline back-office operations. Its comprehensive system addresses and resolves the payment challenges businesses face, ensuring a stronger, more robust infrastructure that allows companies to focus on growing their business. Qualpay's reporting intelligence and data analytics allow customers to quickly and efficiently manage their payment finances, saving them both time and money. Simply put, Qualpay provides a better way to manage payments. For more information, please visit www.qualpay.com.