PreferredPay is Human


Dedicated, Experienced, Account Managers

If you've ever been on hold for 45 minutes, been hung up on, or been transferred to numerous departments on a single day, you already know what it's like to be devalued as a customer. We're here to help, not to frustrate you. As a member, you will have an account manager whose voice you recognize, and who will respond to your call. 

Your account manager is your liaison to our processing partners. He or she will handle any issues that arise from open to close. With PreferredPay, you'll never get bounced around, hung up on, or wait days for a call back. Welcome to payment peace of mind.

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.