About

Who We Are

We bring over 30 years of combined industry experience to the table when we created PreferredPay. Our objective was to provide an easy and affordable payment solution to market. We saw confusing bills, add-on fees, and difficult to understand sign up processes and contracts causing people across the industry frustration, and we decided to fix that: PreferredPay is our solution. We're excited to offer awesome features like free PCI compliance, blazing fast onboarding, a payment portal, and fixed rates that are easy to understand. We're bringing payment processing to the people one happy customer at a time.

Terry Koepsell, President

TerryFor nearly 20 years I headed Koepsell Associates, a management consulting firm in the Washington, DC market; then another 16 years as President of Preferred Payment Solutions (PreferredPay), a boutique sales organization focused on electronic payments. At PreferredPay we employ a consultative approach to merchant services... defining needs and fashioning custom solutions. Our clients include banks, non-profit organizations, government contractors, the healthcare industry, and a variety of retailers.

In mid-2015, together with my long-time associate Peter Groff, we observed an emerging need in the payment industry. Businesses and organizations are being increasingly frustrated with confusing and costly rates and fees as well as complex monthly reporting. Our belief is that credit card acceptance should be a benefit, not a burden. Our mission is to offer simplified, cost-efficient, and easy-to-use credit card service coupled with cost-free add-ons to help both startup and established businesses grow to their fullest potential. 

Peter Groff, Senior Vice President

20151031_073519Hey PreferredPay visitor, thanks for checking us out. I started in the business world as a restaurant owner and eventually landed in the payment processing industry around 2000. I have worked for the largest processor in the world and for a few of the smaller ones, as well as American Express.

We have heard the cry in the marketplace place for simple, honest, fair merchant services, it is PreferredPay's goal to be a refuge for those business owners who are sick and tired of the usual nonsense associated with credit card acceptance.

The picture on the right is of my daughter and I just before the start of the Philadelphia Half Marathon. I am one of those weird people who actually loves running. I also spend a lot of time at my church and on the golf course. My wife and I and our two children live just outside Washington DC.