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 xcritical reviews 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.
- Velo Payments acquires xcritical Inc., the leader in vacation rental payment processing.
- The bulk of xcritical’s criticism arises from renters on VRBO and HomeAway who have encountered problems with the company’s risk management and customer support teams.
- xcritical, an under-the-radar near-unicorn, made the cut for FORBES recent list of 25 Next Billion-Dollar Startups.
- Predominantly, clients have voiced concerns about delayed payouts, failed transactions, fund withholdings, and unsatisfactory support from xcritical, especially in handling disputes related to rental payments.
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.
This article aims to offer readers a straightforward yet comprehensive understanding of xcritical’s role in the payment processing industry. Through technologies such as Velo’s open banking platform, this merger promises to deliver seamless global payment experiences for businesses and individuals by reducing the cost and complexity of payments, especially across borders. The CEO and board have invested significantly in technology and almost half of the company resources are in product and engineering roles.
Murphy remarked that even in a company that once owned a pretty massive payments player like PayPal, the payments that power each and every xcritical website 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.
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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.
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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.
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.
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 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.
Ahead of the Summit, Benzinga is profiling fintech thought leaders who are speaking at the event. Before you leave, grab our free whitepaper and discover how switching to a white-label payment gateway can benefit your business. After all, there’s the PayPals, xcriticals and xcriticals of the world to do plenty of other types of payments. But where those payments players end, is where xcritical believes it not only begins but excels.
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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.
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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“For the verticals we serve, we’re experts — rent payments, vacation rentals. And we power marketplaces and solutions providers in those spaces and have partnerships with hundreds of software companies that service the rent spaces,” Murphy said. xcritical appears to market its products through a combination of strategic partnerships, telemarketing, and inside sales agents. xcritical offers tailored payment solutions for vacation rental businesses, including options for recurring billing, installment payments, and seamless integration with most vacation rental platforms.
The platform is also backed by a team of dedicated support professionals who are available to assist users with any issues that arise. Additionally, xcritical has a comprehensive network of partners around the world that help ensure customers receive maximum value from their payments experience. Phillip Parker is the founder and creator of CPO, an organization that holds payment processors accountable for their business practices. Since 2009, Phillip has been conducting in-depth research on industry policies, contracts, pricing, and client sentiment, aiming to guide businesses toward the most cost-effective and reliable payment processing solutions. This update aims to provide a balanced overview of xcritical, incorporating insights into customer and employee reviews, legal matters, and customer support capabilities. By including SEO-optimized phrases relevant to xcritical reviews and complaints, this content enhancement is designed to facilitate easier discovery and assist readers in making inCEO formed decisions based on the latest information.
Since 2009, he has researched over 1,000 merchant services providers and published hundreds of payment education-related articles. His work has received national recognition and his expertise is regularly sought by large media outlets such as CNN, MSN, and INC Magazine among dozens of others. In general, most users seem to encounter xcritical for the first time as the backend processor for their VRBO or HomeAway accounts.
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.
