Successful small businesses thrive on relationships, but when we think about this truism, the natural impulse is to immediately think of the customer relationship. It’s understandable, of course, as no business — big or small — could ever survive without its customers, but today we’re going to talk about another relationship vital to small businesses, the relationship each business has with its vendors. This relationship is no less important, as the right vendors can help a small business separate itself from the pack and grow and thrive in every relationship going forward.
The entire Payfac in a Box™ team has been busy as new software developer partners are coming on board, batch onboarding their book of merchants, and starting to see their residual revenue flow in. But we did catch up with Ben Kauder, the architect of the solution, for a little Q&A session for this week’s blog while he and our Chief Revenue Office, Vaden Landers, are on the road along the West coast. Here’s the recap of what questions ISVs are asking, what they are excited about, and more.
Fresh off the excitement of Money 2020 in Las Vegas last week we are excited to share what we learned and the trends we’re seeing in payments as more than 11,000 payments professionals gathered for 4-days to meet, share insights and collaborate.
Money 2020 is the leading fintech and payments event hosting 11,000+ attendees and 4,500+ companies from 85 countries. This big payments event draws 1,700+ CEOs and Presidents and over 400 of the industry’s best and brightest who speak and educate on innovations across a variety of areas including payments, banking, commerce, lending, security, CX, blockchain, inclusion, regulation, entrepreneurship, and globalization. Aside from the trade show floor where we will be exhibiting our Payfac in a Box™ solution alongside our parent company Payment Data Systems and sister company Akimbo Card at booth 735, there are dozens of exciting learning programs and lectures happening throughout the four-day event Oct 22-25, 2017 at The Venetian in Las Vegas, NV.
In our payments integration consultations with software developers, we often educate on several critical areas to consider when choosing any payments partner. These include age of the specs/APIs, certification process, acquirer control on the platform, underwriting, application/agreement workflow and payment processing pricing. In our model Payfac in a Box™, we’ve put all these goodies and more ‘in a box’ to ensure a simple, straightforward, and long-lasting integration setup that will make merchant adoption and their continued use of the service top-rate. Read on to educate yourself on these important aspects of selecting a payments integration partner, so you don’t get stuck down an expensive path that doesn’t result in the best custom payments integration for your software solution and merchant users.
After months of planning and development we are excited to share that the website for Payfac in a Box is now live! The streamlined layout showcases how simple customizing a full circle payments integration into software can be. The site also includes links to our mobile SDKs, developers portal and the full API code as well as details for how Payfac in a Box can meet the needs of a variety of business types.
Topics: payfac, payfac in a box, payment faciliator, automated onboarding, bill presentment and payment, custom payments integration, onboard thousands of merchants, software developers, payments integrations
Security is very important; therefore, you should ask questions when considering a payments integration technology partner.
One of the big challenges software developers face but rarely fully understand is the complexity of settlements and disbursements through an electronic payments implementation.
So, you signed a payments integration deal with a bank, processor, acquirer, ISO or agent...what's next?
Payment facilitation was created to remove the friction of having a one-by-one onboarding process so that a bulk group of merchants who use a common software platform can be quickly and easily boarded to a processing platform. As a payment facilitator, Singular Payments’ Payfac in a Box™ solution does just that. When your software has hundreds or thousands of user/merchants to board onto a payments platform, it can be a very time-consuming and painful process without automation. Using our APIs, we can quickly and efficiently onboard thousands of merchants at a time through our complete payment facilitator interface. Through our API your sub merchants are onboarded and ready to process instantly once they click ACCEPT on the Terms and Conditions documents which will be emailed to them. We also have a team of in-house expert sales and customer support specialists to assist any merchants by phone who need extra help understanding the Terms and Conditions and accepting them to start processing. We know through working with developers that onboarding and getting merchants up and processing is the biggest stumbling block to any successful integration, so our solution includes a batch onboarding interface along with a customized customer service experience to ensure an A-rated experience across the board.