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PayNearMe introduces Smart Switch

PayNearMe introduces Smart Switch

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Fintech company PayNearMe has introduced Smart Switch, a first-to-market technology that provides full card processing redundancy with a single integration and single contract.

By onboarding clients to multiple merchant processors, the company can activate Smart Switch to reroute card transactions in the event of processor downtime or issues.

Relying on just one merchant processor introduces an inherent single point of failure, leaving systems exposed to potential disruptions and risk.

Steve Kramer, VP of Product at PayNearMe, says: “We cannot control when or how merchant processor failures or outages happen, but we can protect clients from losses when card processing disruptions inevitably occur.

“With Smart Switch, we simply hit a button when outages happen and, in mere seconds, our clients are rerouted to another processor, allowing them to continue processing card transactions.”

Smart Switch makes card processing redundancy and reliability available to all PayNearMe clients, regardless of technical expertise or resources.

“Redundant card processing has long been the standard for sophisticated e-commerce merchants but has been out of reach for most due to the complex technical expertise and ongoing maintenance required,” adds Kramer. “Our clients gain access to Smart Switch with no additional work or configuration.”

PayNearMe believe that card processing redundancy is crucial for iGaming operators and that payments platforms that don’t incorporate this level of redundancy will quickly become irrelevant.

PayNearMe processes all major forms of payment including Cash App Pay, PayPal, Venmo, Apple Pay, Google Pay, cards, ACH and has enabled cash payments through its proprietary electronic cash network at more than 62,000 retail locations in the US.