Preferred Payments

Payment Processing Softwarepreferredpayments.com

ECRYPT Inc. (formed from the 2025 merger of Preferred Payments and BankCard USA) is a PCI Level 1 certified B2B payment processor offering cloud-based payment processing, dynamic checkout, cloud EMV terminals, and a developer API to SMB merchants and ISV partners across North America.

Company typePrivate
Founded2025
HeadquartersWestlake Village, United States
Headcount11–50
GTM typeB2B
OfferingSoftware

What Preferred Payments does

Preferred Payments, now operating as ECRYPT Inc. following its September 30, 2025 merger with BankCard USA Merchant Services, is a B2B payment technology company headquartered in Agoura Hills, California. The company provides an integrated payment ecosystem for merchants and Independent Software Vendors (ISVs), combining payment processing (Seamless Pay), customizable checkout (Dynamic Checkout), cloud-based EMV terminals (Cloud EMV), and a developer-facing public API. Its technology stack centers on cloud-based payment processing infrastructure with tokenization, P2PE (point-to-point encryption) for in-person transactions, and PCI Level 1 compliance, with cloud-managed terminals designed to eliminate legacy workstation dependencies for multi-location merchants.

The business model is primarily transaction-based: ECRYPT earns percentage-based and per-transaction fees on card-not-present and card-present payments processed through its platform, with potential subscription or usage-based components for premium API tiers offered to ISV partners. The company operates as a registered ISO/MSP (Independent Sales Organization / Member Service Provider) across six banking and processing partners — Elavon, Fifth Third Bank, Citizens Bank, Westamerica Bank, Esquire Bank, and Moneris Canada — which provides the underlying acquiring infrastructure and enables cross-border Canadian processing.

Go-to-market combines direct enterprise sales with dedicated account managers for B2B customers, an ISV channel partner program for software vendors embedding payments into their platforms, and a self-service developer portal with API documentation and test-account signup. The customer base is horizontal, spanning online, in-person, and multi-channel merchants of varying sizes, with the ISV channel serving as a distribution and embedded-payments monetization layer. Headcount post-merger sits at 11–50 employees; the company is privately held with no disclosed funding rounds or institutional investors.

Preferred Payments firmographics

Firmographics

Name: Preferred Payments
Legal name: ECRYPT INC.
Website: https://preferredpayments.com
Company type: Private
Founded year: 2025
Operating status: Operating
Headcount range: 11–50 employees
Short description: ECRYPT Inc. (formed from the 2025 merger of Preferred Payments and BankCard USA) is a PCI Level 1 certified B2B payment processor offering cloud-based payment processing, dynamic checkout, cloud EMV terminals, and a developer API to SMB merchants and ISV partners across North America.
Ownership category
akta.pro rank

Preferred Payments industry classification

Industry

Product category: Payment Processing Software
NAICS: Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
akta.pro industry: PRIMARYFSAGALAB
Embedded Payments (Pay-ins, Pay-outs, Wallets)
Financial & Insurance/Financial Technology (Fintech)/Embedded Finance & Banking-as-a-Service (BaaS)
SECONDARYFSAMADAG
EMV Chip, Magstripe & PIN Debit Acceptance
Financial & Insurance/Payments & Transaction Processing/Point-of-Sale (POS) Payments & Terminals
SECONDARYCRAFALAH
Recurring Billing, Subscriptions & Tokenized Payments
Consumer Products & Retail/E-commerce & Marketplaces/Digital Payment Solutions for E-commerce
SECONDARYFSAMAIAB
SME & Business Cross-Border Payments (B2B)
Financial & Insurance/Payments & Transaction Processing/Cross-Border Payments & Remittances

Keywords

Payment processing services
Credit card processing
Payment gateway software
Merchant services
Embedded payments API

Where Preferred Payments is headquartered

Location

Headquarters

HQ city: Westlake Village
HQ country: United States
HQ region: North America

Offices1 record

Markets served

Preferred Payments business model

Business model

GTM type: B2B
Offering type: Software
Cost components: Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

Payment Processing Services: Transaction-based fees for processing credit card payments across card-not-present (online), card-present (in-person), and multi-channel environments. Revenue generated through percentage-based transaction fees and potentially per-transaction fees.
API and Integration Services: Developer API access and integration services for ISV partners and merchants building custom payment solutions. May include subscription components for premium API tiers or usage-based components.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Preferred Payments product offering

Product offering

Core offering

Preferred Payments (now operating as ECRYPT INC.) provides an integrated B2B payment technology platform enabling merchants to accept credit card payments online, in-person, and across multi-channel environments. The offering includes Payment Processing (Seamless Pay), Dynamic Checkout for branded checkout/invoicing/subscription management, Cloud EMV for cloud-based P2PE in-person payments, and a developer API for ISV partners to embed and monetize payment capabilities.

Product overview

ECRYPT (formerly Preferred Payments following its merger with BankCard USA Merchant Services) operates as a unified B2B payment technology platform offering an integrated payment ecosystem. The core product portfolio consists of Payment Processing (Seamless Pay) for managing multi-channel transactions, Dynamic Checkout for customizable checkout and subscription management, Cloud EMV for cloud-based in-person payments, and the ECRYPT API for developer integration. These products work together as a cohesive payment ecosystem delivering ease-of-use, scalability, and revenue optimization capabilities for merchants and ISV partners.

Differentiator

Problem solved

Functional benefit

Products and services

Payment Processing (Seamless Pay)

Companies that use Preferred Payments

Customer profile

Segments1 record

Ideal customer profiles2 records

Preferred Payments technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Feature6 records

Preferred Payments partnerships and signals

Strategic signal

Partnerships

Seven partnerships are on record, tiered core.

Elavon, Inc.coreOthersECRYPT INC. is a registered ISO/MSP (Independent Sales Organization/Member Service Provider) of Elavon, Inc. Georgia, enabling payment processing services through this banking partnership.
Fifth Third BankcoreOthersECRYPT INC. is a registered ISO/MSP of Fifth Third Bank, Cincinnati, OH, providing payment processing infrastructure through this banking relationship.
Citizens Bank, N.A.coreOthersECRYPT INC. is a registered Independent Sales Organization of Citizens Bank, N.A., Providence, RI, enabling payment processing capabilities.
Westamerica BankcoreOthersECRYPT INC. is a registered ISO/MSP of Westamerica Bank, Santa Rosa, CA, providing payment processing infrastructure.
Esquire Bank, N.A.coreOthersECRYPT INC. is a registered ISO/MSP of Esquire Bank, N.A., Jericho, NY, enabling payment processing services.
Moneris CanadacoreOthersECRYPT INC. is a registered ISO/MSP of Moneris Canada, providing cross-border payment processing capabilities for Canadian transactions.
ISV Partners (Developers, Platforms, Marketplaces)coreStrategic or Co-development PartnerStrategic partnership program for Independent Software Vendors, platforms, and marketplaces to integrate and monetize embedded payments. Partners receive API access, onboarding support, PCI scope management, and dedicated customer support.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Preferred Payments competitors and assessment

Company assessment

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights6 records

Customer concentration

Preferred Payments compliance and trust

Trust signal

Compliance1 record

Preferred Payments financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Preferred Payments leadership team

Management profile

Number of profiles

Profiles1 record

Preferred Payments funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Preferred Payments M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Preferred Payments

What does Preferred Payments do?

Is Preferred Payments a public or private company?

Preferred Payments is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was Preferred Payments founded?

Preferred Payments was founded in 2025. It employs 11 to 50 people.

Where is Preferred Payments based?

Preferred Payments is headquartered in Westlake Village, United States, in the North America region.

How does Preferred Payments make money?

Two revenue lines are on record. Payment Processing Services are the primary driver. The others are API and Integration Services.

Does Preferred Payments have an API?

Yes. ECRYPT offers a public API for developers to build and tailor payment processes. The API enables handling card-not-present transactions, building invoicing or e-commerce experiences, automating recurring billing with Subscriptions, managing customers and wallets, tokenizing credit card data, and implementing card-present transactions with cloud-based credit card terminals. Features include tip-at-time-of-sale, surcharging, device registration, and contactless transactions. A test account is available at https://info.ecrypt.com/get-a-test-account. Developer documentation is at developer.ecrypt.com/docs/getting-started.

What industry is Preferred Payments in?

Preferred Payments's product category is Payment Processing Software. Its primary akta.pro industry code is FSAGALAB, Embedded Payments (Pay-ins, Pay-outs, Wallets), with a secondary code of FSAMADAG, EMV Chip, Magstripe & PIN Debit Acceptance. Its NAICS code is 52232.