VP Compliance Services’ Compliance Certified Vender program is an extensive review and audit of a Payment Processor’s policies, procedures, training, background and more. A Compliance Certified Payment Processor is a Payment Processor a lender can trust when looking to consummate a relationship with a Payment Processor.
VPCS will display all Certified Payment Processor’s audit and review results. Interested parties may reach the Payment Processor’s certification page by clicking the VPCS Certified Vendor logo on the Payment Processor’s website.
VPCS’ Vendor Certification program is not recommended to replace a lender’s own vendor review program. It may be used to help select a new Payment Processor a lender will select for consideration.
For more information on VPCS’ Vendor Certification program please contact William “Rick” Wittwer at firstname.lastname@example.org.
|Certifications & Accreditations||Description|
|Online Lenders (OLA) Accreditation||Certification
|Company Background Check||Comments|
|Liens, Actions, Fines, Investigations||Lexus Nexus Company Background Check
|CFPB, FTC, & State AGs||Regulator Check
|Licensing, Registrations, Bonds, and Insurance||Comments|
|State Licenses and Bonds||Review
|E&O Insurance ||Coverage Levels
|Client Processing Agreement||Review of key elements of the agreements
|ODFI Agreement (if TPPP)||Review of key elements of the agreements
|Polices and Procedures||Comments|