Explaining why we ask for more information up front than our competitors.
At Pinch Payments, our compliance process is designed with a singular purpose: to ensure our merchants enjoy continuity, stability, and peace of mind. Unlike larger platforms like Stripe, Square, and PayPal that prioritise speed over upfront due diligence, we take a different approach. We believe that meticulous onboarding and verification processes not only protect us but, more importantly, protect you from unexpected disruptions down the road.
The Difference in Compliance
Many major payment platforms use programmatic techniques and automation for onboarding. This allows them to quickly accept a vast number of merchants, but it also means that risk assessments are often carried out after the fact with minimal human oversight. The consequence? A high volume of settlement freezes, sudden account suspensions, and frustrating delays for merchants.
For smaller providers like Pinch, the stakes are different. We can't absorb the losses associated with approving inappropriate merchants as easily as larger platforms can. For that reason, we prioritise thorough compliance checks before you start processing payments. This upfront diligence means that once you're approved, you can trust that your transactions will be handled smoothly, with far less risk of unexpected account freezes.
Real-World Evidence: Settlement Freezes and Business Impact
A quick search of public forums and review sites reveals how often merchants experience sudden settlement holds with larger platforms:
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Stripe: Hundreds of merchants report unexplained holds on funds, often lasting weeks, disrupting their cash flow and in some cases threatening their ability to operate.
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Square: Sudden account deactivations and settlement freezes are common complaints among small business owners. The lack of upfront risk assessments means that issues often arise when it’s too late to address them smoothly.
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PayPal: Known for its 'Account Limitations', PayPal frequently places indefinite holds on accounts with minimal explanation, often leaving businesses in financial limbo.
A 2023 study by Payments Journal found that 34% of small businesses experienced a settlement freeze that lasted more than 5 days, resulting in delayed payroll, disrupted service delivery, and in some cases, irreversible damage to the business.
Why Our Approach Is Better
At Pinch, we take the time to verify and validate during the onboarding process. Our comprehensive compliance checks mean that we understand your business well before you begin processing payments. This not only mitigates risk but ensures you don’t find yourself suddenly locked out of your own revenue stream.
Real Pinch Merchant Experiences:
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One of our clients shared, "My client payments are settled much faster than the other services I have used, and I receive notifications for all settlements" (Emily Dawson, 2024 Review).
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Another noted, "Pinch has transformed our accounting processes in a positive way, and their technical support is prompt and professional" (Andrea Wells, 2024 Review).
Conclusion: Stability Over Speed
While our compliance process may take slightly longer upfront, the peace of mind it provides is unparalleled. With Pinch, you avoid the sudden disruptions and arbitrary freezes that plague larger platforms. Our focus on upfront due diligence means you can confidently rely on uninterrupted payment processing, smoother cash flow, and true business continuity.
Would you like to experience a payment process that prioritises your business's stability? Get in touch with us today, and discover how Pinch does payments differently.