| What's in This Issue: | Feature Spotlight: Same Day ACH | Protecting Personal Identifying Information (PII) | | |
Feature Spotlight: Same-Day ACH
Same-Day ACH is a great way to quickly move funds from one bank account to another. It is a relatively new technology; first introduced in 2016, that has quickly become a very popular method for transferring money. In the first half of 2021, $439 billion was transferred using the service. Same-Day ACH is a very convenient tool for making business-to-business payments and bill payments. Any account holder at any U.S. financial institution can receive a Same-Day ACH payment. Contact our support or sales team to see if same-day ACH can improve your organization's cash flow.
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Protecting Personal Identifying Information (PII)
We share a word of caution: don't let your guard down. Workers take vacations, students take breaks, but criminals never rest. Our simple message to you is Be Vigilant!
Many fraudulent transactions are rooted in stolen identities. Our customers entrust us with their personal identifying information. That can seem like a heavy responsibility. But with an established information security policy, backed by a top-down security-centric business culture, you can ensure your customers don't become one of the troubling many who are falling victim to an expanding epidemic of Identity Theft.
The Motley Fool recently released a report showing that ID fraud increased 113% in 2020 alone, three-fold since 2016. Many factors are driving that growth, and those bear investigation, but our immediate focus needs to be on prevention.
2016: 398,356
2017: 370,916
2018: 444,344
2019: 650,523
2020: 1,387,615
Prevention is simple if broken down into key components. Start by adopting an offensive security posture.
- Review your internal practices frequently
- Test your controls to prove that they're effective
- Document your vulnerabilities and track each of them individually
- Seek outside perspective, including PCI QSAs or other audit experts
- And conduct regular security training to ensure that each employee understands the critical role they play in protecting data
Because Fortis leadership takes security very seriously, we've already taken these steps to ensure our clients receive the safe, secure payment services they expect. But we can't make the card payments ecosystem more secure alone. So, in a spirit of cooperation, we invite you to join us in shouldering that responsibility. It's the right thing to do for your business, your customers, and the economy we all share.
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Fortis Acquires OmniFund, Enhancing Commerce Technology
Fortis Payment Systems, LLC (Fortis), a payment technology leader for businesses, independent software vendors (ISVs) and developers, announced it has acquired OmniFund, whose cloud-based Payments-as-a-Platform solution is leveraged by software and enterprise resource planning ERP solutions across the country. Founded in 2005, OmniFund is dedicated to delivering superior commerce solutions for their software partners and business clients. The acquisition will enable Fortis to expand its platform of offerings and capabilities while pursuing new accounts receivable and ERP initiatives.
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Why Choose OmniFund?
Our Payments as a Platform® gives customers the advantage of accepting multiple types of payments and simplifies the process, creating a seamless experience. At the same time, we help protect your company from fraud and have the tools and support needed for PCI compliance, tokenization, and P2P encryption. At OmniFund, we are dedicated to your success, providing you with:
- Personalized Support
- Customizable Solutions
- Problem Solving Experts
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OmniFund Payment Solutions
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Are you sure you’re getting the best rates possible on credit card fees?
OmniFund knows each business is unique, therefore so is our pricing model. We offer a free third-party analysis of your current rates, so you can see how much you’re really paying and how we can help you save.
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About OmniFund
Since 1997, the professionals at OmniFund have been providing payment solutions to businesses across the nation ranging in size from large Fortune 500 companies to small mom & pop shops. Headquartered in Tampa, Florida, our Payments as a Platform® keeps your business secure while increasing profits.
We pride ourselves in providing a platform that simplifies the payment process, making it easier to stay compliant with ever-changing regulations. We back our platform with expert service and personalized support. Our goal is to provide you with a comprehensive, easy-to-use, and fully integrated payment solution that allows your business to grow and thrive.
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