Jack Henry & Associates announced today that its ProfitStars division has formally launched a new service which is already in operation at several local and regional banks. This service enables small businesses and not-for-profits to easily accept online payments and/or donations at their respective websites (as bank deposits) without the need to implement shopping cart functionality online.
According to Jack Henry’s announcement, “The [Customer Payment Portal] offers a unique URL address that is linked from the company’s website …. and does not require the company to store sensitive transaction information in its own system.”
The latter point, of course, relieves the small business of the need to manage PCI compliance. This appears to be a relatively useful new offering, enabling banks to offer an important new capability to their small business customers. Payments can be initiated via charge to the payor’s bank account, or to a credit card, and can be structured to execute both one-time and recurring periodic payments.