Banquest Payment Systems

What Banquest Payment Systems does

Banquest Payment Systems (legal entity Payroc BQ LLC, also Banquest Payment Systems Corporation) is a privately held U.S. payment processor founded around 2010 and headquartered in Lakewood, New Jersey. The company operates as a registered Independent Sales Office (ISO) of Citizens Bank, N.A. and Wells Fargo Bank, N.A., enabling it to provide merchant acquiring and payment-processing services nationwide on top of partner bank rails including First Data, TSYS, and Elavon. Its platform processes credit cards, signature debit cards, e-Checks, ACH, and alternative payments such as cryptocurrencies through a unified gateway and REST API.

The core product set spans a next-generation payment gateway, a no-code 'Payment Portal in a Box' white-label AR portal, integrated processing plugins for QuickBooks, NetSuite, Salesforce, SAP, WooCommerce, Gravity Forms, Clover, and Pax, plus add-on modules for Level III processing, 3D Secure, Amex Smart Routing, GSA Cards Split, tokenization, recurring/scheduled billing, an invoicing suite, and a Merchant Cash Advance program funded by pooled private investors. Notable technical components include multilevel interchange optimization, a Secure Customer Vault, and a fraud-protection-and-scoring module, though no proprietary AI/ML models are disclosed.

Banquest generates revenue primarily through per-transaction processing fees charged to merchants (with stated rates 'lower than industry standards'), supplemented by revenue sharing with SaaS/API partners embedding its gateway and by factor-rate (1%-5% per month) merchant cash advances. Go-to-market is hybrid: direct sales to SMB and mid-market merchants, an API-first/developer-partner channel targeting SaaS companies and ISVs, and an agent/reseller channel supported by dedicated agent onboarding infrastructure. Customer evidence spans healthcare (Alert Ambulance, Chemed Health), accounting (Kanarek & Co.), nonprofit (Agudath Israel), retail (PishPosh Baby), and technology (TelTech Inc., operating in 17 countries), indicating a diversified long-tail merchant book rather than concentrated anchor accounts.

Name

Banquest Payment Systems

Legal name

Payroc BQ LLC

Website

https://banquest.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Banquest Payment Systems is a U.S. payment processor operating as an ISO of Citizens Bank and Wells Fargo, offering a unified gateway, API, no-code Payment Portal, ERP integrations, and merchant cash advances to SMB merchants and SaaS/ISV partners.

Ownership category

akta.pro rank

Product category

Payment Processing Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Tokenization & Secure Payment Vaults (Card-on-File) (FSAMACAC), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Payment processing services
• Merchant services
• Payment gateway platform
• Credit card processing
• Integrated payment API

Headquarters

HQ city

Lakewood

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Payment Processing Services: Transaction-based payment processing fees charged to merchants for processing credit card, debit card, ACH, e-check, and alternative payments. Revenue is generated per transaction with rates that are stated to be lower than industry standards.
2. API/Partner Revenue Sharing: Revenue sharing with software partners who embed Banquest's payment API. Partners generate revenue from every transaction processed through their SaaS using Banquest's platform.
3. Merchant Cash Advance: Short-term cash advances based on future credit card processing. A percentage of each credit card transaction goes toward paying off the balance. The company pools private investors who fund clients and offers early payback discounts.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

Banquest Payment Systems is a payment processor and gateway provider that enables merchants and SaaS developers to accept credit cards, signature debit cards, ACH, e-Checks, and cryptocurrencies through a single unified API. The company offers a no-code 'Payment Portal in a Box' white-label invoicing and payment portal, integrated processing plugins for ERP/CRM systems (QuickBooks, NetSuite, Salesforce, SAP), and merchant cash advances funded by private investors.

Product overview

Banquest Payment Systems offers a unified payment processing platform that combines a next-generation payment gateway, Payment Portal in a Box, and Integrated Processing modules. The platform supports multiple payment methods (credit cards, debit cards, ACH, e-checks, and cryptocurrencies) through a single API integration. Core capabilities include interchange optimization, fraud protection, tokenization, recurring billing, and invoicing suite. The product architecture includes multiple add-on modules including Level III processing, 3D Secure, Amex Smart Routing, GSA Cards Split, and Full White Label options. Additionally, Banquest offers a Merchant Cash Advance program for business financing. The platform integrates with major business systems including QuickBooks, NetSuite, Salesforce, SAP, WooCommerce, and provides ready plugins for ERP and custom systems.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Increased credit card payments collected by 50% while reducing cost (Alert Ambulance case)
• +1 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration18 records

Feature13 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• qurbsideminorStrategic or Co-development PartnerAnnounced partnership with qurbside to offer curbside pickup payment integration for businesses. qurbside is a service that helps businesses manage curbside selling, and Banquest integrated this as a payment processing option for their merchant customers.
• WooCommercecoreTechnology or IntegrationIntegrated technology partnership providing payment processing for WooCommerce online stores. Listed as one of the integrated technologies on the Banquest API page.
• QuickBookscoreTechnology or IntegrationDeep integration with Intuit QuickBooks allowing merchants to process credit card transactions integrated directly inside QuickBooks. Banquest remotely installs a QB Plugin for seamless workflow.
• NetSuitecoreTechnology or IntegrationIntegration partnership with Oracle NetSuite ERP platform for seamless payment processing within NetSuite workflows.
• SalesforcecoreTechnology or IntegrationIntegration with Salesforce CRM platform enabling payment processing capabilities within Salesforce workflows.
• SAPcoreTechnology or IntegrationIntegration with SAP enterprise software for payment processing within SAP environments.
• First DatacoreTechnology or IntegrationTechnology partnership with First Data payment processing network for underlying transaction processing infrastructure.
• TsyscoreTechnology or IntegrationIntegration with TSYS payment processing network for transaction handling.
• ElavoncoreTechnology or IntegrationIntegration with Elavon payment processor for transaction processing services.
• ClovercoreTechnology or IntegrationIntegration with Clover point-of-sale hardware and payment platform.
• PaxcoreTechnology or IntegrationIntegration with Pax payment terminals for point-of-sale processing.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Helcim: SMB-focused payment processor offering interchange-plus pricing, online invoicing, and a developer API. Directly comparable to Banquest on merchant pricing model, invoicing suite, and API-first developer channel.
• National Processing: US payment processor focused on SMB merchants with ISO/agent partner channel and competitive interchange pricing. Directly comparable to Banquest's direct merchant sales and agent distribution model.
• Payment Depot: Membership-style payment processor for SMBs with interchange-plus pricing and quick onboarding. Targets the same SMB merchant segment as Banquest with similar value proposition around lower-than-industry-standard rates.
• Payroc: Banquest's legal entity is Payroc BQ LLC, indicating direct affiliation with Payroc. Payroc is a payment processor and ISO acquirer serving SMB and mid-market merchants, making it the closest structural peer for Banquest's processing, gateway, and partner-reseller business.
• Stax (formerly Fattmerchant): Subscription-based payment processor targeting SMB and mid-market merchants with interchange-plus pricing and omnichannel capabilities. Competes directly with Banquest for cost-conscious merchants seeking transparent pricing and integrated ERP/accounting workflows.
• Dharma Merchant Services: Independent payment processor focused on SMB merchants, with interchange-plus pricing, agent/partner channel, and developer-friendly integrations. Comparable to Banquest on ISO structure and B2B/SMB merchant focus.
• Host Merchant Services: SMB payment processor with interchange-plus pricing, an ISO/agent channel, and a developer API. Closely comparable to Banquest on target customer, channel structure, and emphasis on integration with ecommerce and POS platforms.

Broad incumbents

• Fiserv: Large payments and financial technology provider owning Clover, First Data, and Elavon. Banquest integrates with multiple Fiserv-owned rails (First Data, TSYS, Elavon, Clover), making Fiserv both a partner and a broad incumbent competitor in the merchant acquiring market.
• Stripe: Global payments platform with developer-first API, broad payment method support, and embedded payments for SaaS platforms. Competes with Banquest in the SaaS partner / developer channel, though Stripe serves a much wider range of customers and geographies.
• Block (Square): SMB payments and banking platform offering card processing, POS hardware (Clover competes directly here), and software-led merchant acquisition. Broad incumbent in the same SMB processing market Banquest targets.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Banquest Payment Systems