Photo byStephen Goldberg onUnsplash
5 min read
7 min read
Optimizing Resources: 12 Essential Tools for SaaS Companies
By Agile Payments on May 26, 2023 11:25:48 AM
Optimizing Resources: 12 Essential Tools for SaaS Companies
8 min read
How to Find the Right Financial Expert for Your Business
By Agile Payments on May 26, 2023 11:21:53 AM
How to Find the Right Financial Expert for Your Business
Anchor: Accounting tests
3 min read
How to Securely Manage Online Payments: A Business Owner’s Guide
By Agile Payments on May 24, 2023 11:44:04 AM
How to Securely Manage Online Payments: A Business Owner’s Guide
5 min read
How Businesses Can Prevent Identity Fraud with ID Verification
By Andi Croft on Mar 8, 2023 5:08:07 PM
How Businesses Can Prevent Identity Fraud with ID Verification
4 min read
The Future of Payments: Trends and Technologies to Watch in 2023
By Kat Sarmiento on Feb 24, 2023 4:55:25 PM
The Future of Payments: Trends and Technologies to Watch in 2023
6 min read
9 Effective Growth Hacking Strategies to Skyrocket Your Startup
By Andi Croft on Feb 21, 2023 8:13:32 AM
9 Effective Growth Hacking Strategies to Skyrocket Your Startup
Photo byCampaign Creators onUnsplash
Although the term growth has been thrown around a lot, especially in the start-up community, many entrepreneurs still need to be made aware of what growth hacking is and how it works.
4 min read
Why Your Small Business Should Accept Mobile Payments
By Kat Sarmiento on Feb 7, 2023 1:31:25 PM
Why Your Small Business Should Accept Mobile Payments
5 min read
5 Critical Database Features That Help Manage Payment Transactions
By Andi Croft on Feb 6, 2023 11:47:04 AM
5 Critical Database Features That Help Manage Payment Transactions
2 min read
Advantages of Authenticating Ownership of Bank Accounts
By Gene Krause on Jan 25, 2023 10:05:46 PM
Authenticating ownership of a bank account is a crucial step in ensuring the security and integrity of financial transactions. It is a process of verifying that the person claiming to own a bank account is indeed the rightful owner. This can be done through a variety of means, including providing personal identification, answering security questions, or providing a signature.
3 min read
Ways SaaS Can Streamline Your Business Planning Process
By Agile Payments on Jan 19, 2023 12:10:32 PM
Ways SaaS Can Streamline Your Business Planning Process
1 min read
Zero ChargeBack Payment Processing: There is a solution
By Wayne Akey on Dec 19, 2022 2:39:01 PM
Zero ChargeBack Payment Processing: There is a solution
2 min read
No Merchant Account Payment Solutions
By Wayne Akey on Dec 16, 2022 9:49:12 AM
Can you accept customer payments without having a Merchant Account?
2 min read
How Push Payments | Consumer Permissioned Payments Can Help High-Risk Businesses
By Wayne Akey on Dec 14, 2022 7:52:48 AM
How Push Payments | Consumer Permissioned Payments can solve the merchant account Merry Go Round for high-risk business payment needs?
1 min read
5 Reasons Push Payments will change the online checkout landscape
By Wayne Akey on Dec 12, 2022 11:52:48 AM
5 Reasons Push Payments will change the online checkout landscape
4 min read
7 Tips to Increase Your SaaS Website Leads and Sales
By Lilly Miller on Dec 8, 2022 12:21:58 PM
7 Tips to Increase Your SaaS Website Leads and Sales
1 min read
How PushPayments Can Transform Online Checkouts
By Wayne Akey on Dec 8, 2022 8:13:34 AM
PushPayments, also called consumer-permissioned payments, can completely eliminate payment chargebacks and reduce payment processing fees by 50% compared to credit card payments.
4 min read
LinkedIn Marketing Tips for SaaS Startups in 2023
By Brenda Jones on Nov 29, 2022 8:32:32 AM
LinkedIn Marketing Tips for SaaS Startups in 2023
Learn to promote your startup marketing by reaching your customers and SaaS executives through lead gen forms, creating effective landing page funnels and useful content
The vital issue for any startup, especially a “Software as a Service” company, is good marketing. These are the steps you want to take to fully utilize this process:
- Introduce your product to the right audience,
- Position this product by lead generation,
- Build awareness of your product by creating useful content,
- Connect to valuable businesses and their executives.
Owning a SaaS startup means that you need to attract new customers as fast as possible, and LinkedIn is probably the best place to achieve this.
LinkedIn Ads’ power in lifting businesses off the ground is proven. Using them can be extremely efficient and cost-friendly.
To grow involvement and interest in your SaaS company you need a well-designed LinkedIn marketing strategy. And the first step in achieving this is finding the right audience.
Find the right audience
A good marketing strategy means extending to those unaware of your business. This means producing content to reach a relevant audience, by adhering to the following guidelines:
- Define your target audience by using a checklist of questions about your buyer's persona,
- Communicate to professionals who will use your product,
- Use jargon they will understand,
- Focus on the pain points your SaaS product will fix.
Here are some tips to improve targeting and increase the conversion rate of your LinkedIn Ads:
- Use videos - this lowers the ad costs,
- Don’t block out specific industries - maximize the ad reach,
- Don’t use the first ad edit - test different versions to see what works best,
- Keep ads engaging - try to include any form of lead generation.
Using Lead generation forms
A lead generation form is a web form for acquiring emails and other professional information about potential customers.
LinkedIn supports an array of lead gen forms. This way you can easily reach potential customers, capture leads, and turn them into actual clients.
Here are some tips for useful gen forms:
- Give your gen form a snappy name or headline,
- Describe benefits for the customer,
- Add a privacy policy link,
- Identify the data you want to collect from your leads,
- Add a thank you page.
Once you’ve reached a potential customer, you need to contact them as soon as possible, and to achieve that - a good landing page is of great assistance.
Create a landing page funnel
When you click on a LinkedIn ad, what you get is called a LinkedIn Ad landing page. It’s a webpage set up to encourage LinkedIn connections to take action. These pages need to provide customers with clear and compelling data and encourage them to take action.
Landing pages can be:
- LinkedIn generated: cheaper, easier to create, automatically populated with a low effort from customers,
- Hosted by yourself: more expensive, more complex, and harder to fill out, but with better prospects of customer engagement.
The landing page should always end with a thank you note. Also, a good practice example is to offer some kind of trial or schedule a short demo within your thank you page.
Create useful content
People are usually annoyed by ads. There is a way to address this: create compelling marketing content that reaches your customers’ pain points, interests, needs, and concerns. Here are some examples:
- Fresh news stories relevant to your SaaS products,
- How-to guides,
- Blog posts,
- Hot takes,
- Infographics,
- Some relevant educational content.
Everything needs to be concise, unique, relatable, and shareable. Titles should be interesting and relevant, using keywords associated with your SaaS product. Content needs to be engaging, fresh, and weekly. Some flashy, rich media ad formats can always improve customer engagement.
An important feat of useful ad content is its visibility to the right people, ie. other SaaS executives.
Connect with other Saas companies executives
To manage LinkedIn connections well means to fully appreciate the possibilities LinkedIn offers, especially when we talk about connecting to other SaaS executives. The following three basic targeting approaches can be used effectively in achieving this:
- Warm traffic targeting
- Cold traffic targeting
- Account-based targeting
Warm targeting means contacting LinkedIn connections who are not yet our customers, but with whom we already have some contact. Cold targeting is connecting with audiences unaware of your SaaS products yet. Account-based marketing refers to linking to certain executives that you think would be interested in your SaaS.
Conclusion
Given the current standards, 2023 will see an even more competitive SaaS market.
To fully grow your business you need to master as many good marketing strategies as possible. And LinkedIn as a top business platform is probably the most important asset to obtain.
There are ways to manage your LinkedIn connections so to improve your SaaS market share.
This can be best achieved by applying the aforementioned good standards of creating solid lead gen forms, creating effective landing page funnels, and valuable content.
4 min read
How to Manage Your Investment Portfolio as a SaaS Business
By Lilly Miller on Nov 23, 2022 7:32:55 AM
How to Manage Your Investment Portfolio as a SaaS Business
4 min read
How To Improve Employee Productivity with AI
By Kat Sarmiento on Nov 19, 2022 12:49:31 PM
How To Improve Employee Productivity with AI
4 min read
5 Key Funding Options For Your Company
By admin on Oct 10, 2022 12:30:08 PM
5 Key Funding Options For Your Company
3 min read
How To Protect Your Business From Financial Crimes
By Miley Dowing on Sep 27, 2022 9:31:12 AM
4 min read
How to Develop an SEO Strategy for Your SAAS Company
By Lilly Miller on Sep 8, 2022 12:12:33 PM
How to Develop an SEO Strategy for Your SAAS Company
4 min read
What Gig Workers Want in Payments
By Rummz Bajwa on Aug 30, 2022 10:01:22 AM
What Gig Workers Want in Payments
So, you're on your way to becoming a gig worker. Congratulations! You'll be joining the ranks of some of the most innovative and forward-thinking people in the workforce. But what do gig workers need to have a much-improved experience? Payments that fit their lifestyle and work habits for sure!
2 min read
Instant Payouts: A Guide for MarketPlace Instant Payout Providers
By Wayne Akey on Aug 25, 2022 6:45:00 AM
Instant Payouts: A Guide for MarketPlace Instant Payout Providers
The world is changing, folks. Gone are the times when people would accept payments taking days to reach their accounts for work they’ve completed. Nowadays, when a freelancer or employee completes their job, they want to know that they’ve been paid immediately.
4 min read
Why You Should Do a Jail History Check on a Business Partner
By Naomi Cook on Aug 23, 2022 1:35:21 PM
Photo by fauxels: https://www.pexels.com/photo/man-in-brown-sport-shirt-shaking-hands-of-man-3184294/
Why You Should Do a Jail History Check on a Business Partner
From a financial and operational standpoint, entering into a business partnership is an excellent strategic choice.
2 min read
Instant Payouts: A Guide for SaaS Platforms
By Wayne Akey on Aug 22, 2022 12:38:36 PM
Instant Payouts: A Guide for Saas Platforms
The world is changing, folks. Gone are the times when people would accept payments taking days to reach their accounts for work they’ve completed. Nowadays, when a freelancer or employee completes their job, they want to know that they’ve been paid immediately.
4 min read
7 Essential Components That a Successful SaaS Website Should Have
By Andi Croft on Aug 17, 2022 12:35:16 PM
7 Essential Components That a Successful SaaS Website Should Have
3 min read
How To Create An eCommerce Privacy Policy, And Why You Should Do So Now
By Madeline Miller on Jul 13, 2022 10:32:36 AM
How To Create An eCommerce Privacy Policy, And Why You Should Do So Now
2 min read
Instant Payout Providers
By Wayne Akey on Jul 5, 2022 10:21:59 AM
Instant Payout Providers Help You Build Your Business
2 min read
Instant Payout Solutions
By Wayne Akey on Jun 30, 2022 2:39:52 PM
Instant Payout Solutions
5 min read
8 Best Practices for Managing SaaS Contracts & Agreements
By Andi Croft on Jun 27, 2022 8:26:26 AM
8 Best Practices for Managing SaaS Contracts & Agreements
4 min read
Effective Ways E-Commerce Companies Can Protect Customer Data
By Lilly Miller on Jun 8, 2022 1:28:24 PM
Effective Ways E-Commerce Companies Can Protect Customer Data
4 min read
How to Optimize Your Online Payment Process for Higher Conversion Effectively
By Andi Croft on May 25, 2022 7:39:39 AM
How to Optimize Your Online Payment Process for Higher Conversion Effectively
6 min read
10 Actionable B2B Lead Generation Strategies for SaaS Businesses
By Andi Croft on May 19, 2022 10:44:59 AM
10 Actionable B2B Lead Generation Strategies for SaaS Businesses
6 min read
Benefits of CRM for Accounting: Productivity Enhancement Guarantee
By Ethan Millar on Apr 25, 2022 8:22:12 AM
4 min read
How SaaS Companies Can Take Advantage of Account-Based Marketing
By Andi Croft on Apr 22, 2022 8:26:23 AM
How SaaS Companies Can Take Advantage of Account-Based Marketing
4 min read
How to Improve Operational Efficiency Using Workflow Automation
By Lilly Miller on Apr 19, 2022 8:08:39 AM
How to Improve Operational Efficiency Using Workflow Automation
4 min read
Protect Your Customers by Using Secure Payment Systems
By Naomi Cook on Mar 9, 2022 7:30:20 AM
Photo by Ivan Samkov from Pexels
2 min read
5 Tools To Conduct Surveys For Your Online Ventures
By Andy Dawson on Mar 6, 2022 1:36:14 PM
5 Tools To Conduct Surveys For Your Online Ventures
5 min read
The Future Of Laravel Development
By Harikrishna Kundariya on Mar 3, 2022 7:52:25 AM
The Future of Laravel Development in 2022 & Coming Years
5 min read
Why is Competitor Analysis Crucial to Drive Business Growth?
By Andy Dawson on Feb 23, 2022 12:26:47 PM
Why is Competitor Analysis Crucial to Drive Business Growth?
In the fast-paced era of automation and technological advancement, staying ahead in the business space is challenging. Especially when the market arena is noisy and full of intense competition, getting insights on your competitors becomes crucial for your business growth.
3 min read
First-hand tips on how to increase website productivity
By Alex Lysak on Feb 16, 2022 1:46:20 PM
First-hand tips on how to improve your website productivity
“You never get a second chance to make a good first impression”. What’s true in life and it’s especially true with how your website looks to new viewers. Just a ONE SECOND delay leads to your page losing 11% page views, a 16% drop in customer satisfaction, and a whopping 7% loss in conversion! One second! And 40% of customers will just give up if it takes more than five seconds.
3 min read
Payment Integration Mistakes - The MSB Factor
By Gene Krause on Feb 11, 2022 2:02:59 PM
It happens on a regular basis; prospective clients contact us because they have a SaaS application in development, usually nearing launch, and they need a solution to pay-out to people or companies that serve a role within the application's ecosystem, but who are not the primary beneficiary of the funds received from a credit card payment.
1 min read
2021 ACH Transaction Volume Shows Strong Growth
By Wayne Akey on Feb 4, 2022 3:05:23 PM
2021 ACH Transaction Volume
5 min read
11 Important Features for Accepting Payments on Your Website
By Andi Croft on Dec 20, 2021 9:30:29 AM
11 Important Features for Accepting Payments on Your Website
2 min read
PayFac as a Business Model
By Wayne Akey on Sep 7, 2021 3:52:20 PM
PayFac or Payment Facilitation enables software platforms to both brand and monetize payment processing offerings while at the same time offering instant, hassle-free customer payments onboarding.
1 min read
New Data Security Requirements for ACH Originators
By Gene Krause on May 19, 2021 10:16:36 AM
As of June 30, 2021, a new rule on supplementing data security requirements goes into effect for ACH originators that have an annual volume of 6 million transactions or greater. The rule requires the originators (and third party service providers) to protect bank account information unreadable when it's stored electronically. Basically, the sensitive bank account data needs to be tokenized.
6 min read
Nimble's Integration with Piesync Enables 160+ SaaS Apps Seamlessly
By Stella Lincoln on Mar 11, 2021 2:48:37 PM
4 min read
5 Fundamental Social Media Marketing Strategies For eCommerce Websites
By John Peterson on Mar 1, 2021 10:45:38 AM
2 min read
Pay by Text Virtual Terminal for Credit Unions
By Wayne Akey on Feb 4, 2021 8:08:17 AM
Many banks and Credit Unions now offer drive through only service to their customers and members. This has created a spike in the number of in-bound phone calls for Credit Unions. For many this has resulted in a less than ideal member experience.
8 min read
Must-Have SaaS Tools for Your Business
By Agile Payment News on Feb 2, 2021 1:03:41 PM
10 SaaS Tools Every Business Must Use
2 min read
Using a Pay by Text Virtual Terminal for Medical Offices
By Wayne Akey on Feb 1, 2021 7:49:56 AM
A Pay by Text Virtual Terminal offers medical offices the ability to communicate with patients in a non face to face environment. 2-Way messaging means your office personnel can text patients and interact using their computer screen ( Virtual Terminal) like their cell phone.
3 min read
SMS Virtual Terminal | Pay by Text Virtual Terminal
By Wayne Akey on Jan 19, 2021 12:19:42 PM
SMS stands for Short Messaging Service, and primarily involves texting by phone. SMS Payment Solutions allow businesses to:
4 min read
Top 7 Ways Email Marketing Is Changing With AI
By John Peterson on Jan 14, 2021 7:42:01 AM
Since the rise of AI, it has had a massive impact on different industries, and as years progress, it will continue to have more significant influences in more industries. This technology can efficiently scan through a large database and use the data to generate insights from which actions can be taken. AI technology is very result-oriented.
5 min read
10 Actionable Tips to Improve Your SaaS Sales Strategy
By Kevin Urrutia on Dec 14, 2020 10:19:58 AM
3 min read
Payment Reconciliation Done Right
By Wayne Akey on Dec 10, 2020 6:39:49 PM
Disrupting the ACH and Credit Card settlement and funding process via a Funding Report
6 min read
3 min read
4 Key Considerations for Credit Card Payment Integrations for SaaS With Recurring Payments
By Gene Krause on Jul 1, 2020 2:19:54 PM
Any software application having a requirement to accept payments will most likely need to integrate a credit card payment integration solution. Even applications with a subscription model will likely do so, even though ACH processing lends itself very nicely to models with a recurring payment component. The fact of the matter is that credit cards are the go-to payment modal in the card not present space. If you are part of a team on a SaaS payments project, here are some key areas that you should explore.
3 min read
3 Considerations for Your SaaS' Payment Gateway Integration
By Gene Krause on Jul 1, 2020 11:45:07 AM
Having been supplying payment gateway integration solutions for over 20 years now, we certainly hear some common themes when discussing potential integration solutions with prospective clients. As one prospect put it, "I think it's now become part of the developers DNA that Stripe is the defacto integration solution." Who can argue with elegant API's and fairly ease of boarding, right?
5 min read
NACHA 2021 ACH Rule Change Mandates Checking Account Validation For Web Based Payments
By Wayne Akey on Jun 29, 2020 8:41:36 AM
What does the new NACHA ruling around WEB ACH transactions really mean and why has it been implemented?
4 min read
How Fintech Can Help Small Businesses Manage Money
By Agile Payments News on Jun 3, 2020 1:28:45 PM
If you work in the professional services industry then you likely have heard the buzzword, Fintech over the years. Fintech, or businesses that combine financial services with technology, have become somewhat of a phenomenon in recent years. These companies, often from Silicon Valley, are sleek, modern businesses that approach the finance industry with sophisticated technology to optimize business financing processes such as payments, banking, and more.
2 min read
Top 10 Things to Look For In An ACH API
By Wayne Akey on Jun 3, 2020 1:15:37 PM
An ACH API integration enables a business or SaaS platform to automate ACH
payment processing and reconciliation. Any business that accepts recurring payments should leverage the ACH network for 2 compelling reasons:
3 min read
Top 3 Things to Look For in an IVR Payments Partner
By Gene Krause on Jun 1, 2020 1:36:44 PM
Ease of IVR menu flow configuration and editing.
Legacy IVR systems can require developer assets to be used from the IVR payments partner when initially configuring a menu and IVR workflow and subsequent edits should the menu flow require a change. In many cases these can be extremely expensive to the using organization. We have heard instances where a using organization was quoted thousands of dollars to change from using a text to speech engine to using their own recorded voice talent. It should have be be as such.
3 min read
7 Effective Ways to Make Your Payment Process Easier for Online Customers
By Michael Dehoyos on Jun 1, 2020 7:20:08 AM
4 min read
User Experience Tips to Improve the Payment Process for Your Clients
By Leona Henryson on May 26, 2020 12:44:13 PM
3 min read
Avoid These 5 Common Saas Billing Mistakes
By Molly Crockett on May 12, 2020 9:36:00 AM
SaaS businesses may run into billing errors every once in a while; however, it’s an unnecessary racket if the same mistakes are repeated, and they don’t have a functioning model that would save them from another billing error. To make matters worse, billing errors can cause your customers to lose trust in you as their billing authority, and might flock to your competitor(s).
3 min read
How to start your career as a software engineer in a SAAS company
By Artur Meyster on May 5, 2020 12:13:51 PM
How to Start Your Career as a Software Engineer in a SAAS Company
2 min read
Why ALL Health Care Organizations Need SMS Payments
By Coleman Akey on Apr 14, 2020 11:51:00 AM
Nobody looks forward to a hospital visit, but collecting payments via SMS can make a patient’s hospital experience better. Paying by text means avoiding the crowded billing office, and patients leaving the hospital, doctor’s office, etc. as soon as possible (instead of waiting to make a payment).
2 min read
ACH Tokenization
By Gene Krause on Apr 10, 2020 1:12:43 PM
PCI compliance doesn't apply to ACH Payment Processing, but to utilize a processing platform that is PCI DSS Level 1 certified certainly doesn't hurt security measures around your ACH origination method. NACHA doesn't have an established security certification process like the credit card world does, but they do require that processes, controls and procedures are employed to protect sensitive data like bank account information. ACH Tokenization accomplishes that.
2 min read
SMS Payments for Charity: A Necessity in 2020
By Coleman Akey on Apr 8, 2020 12:36:59 PM
SMS stands for Short Messaging Service, and centers around cell phone texting. SMS Payment Solutions allow businesses to text customers with payment reminders/confirmation and accept payment via the cell phone.
1 min read
Why EVERY Charity Needs to Utilize IVR Payments
By Coleman Akey on Apr 8, 2020 11:51:09 AM
Interactive Voice Recognition (IVR) is computer technology that offers automated secure payment by phone by replacing human interaction within call centers. A phone system offers voice prompts that route calls to an IVR system instead of utilizing live customer service operators. An IVR system can handle huge loads of calls that would otherwise require substantial man hours.
5 min read
IVR Payments and Security
By Gene Krause on Apr 7, 2020 1:09:41 PM
Agile Payments has been supplying various types of payments related tools for 20+ years, and one of those tools is Interactive Voice Response which allows companies to collect payments over the phone using automated IVR Payment technology.
2 min read
Restaurants: Touchless Payments for Carryout
By Gene Krause on Apr 3, 2020 2:58:37 PM
While we are flat in the midst of the Covid-19 pandemic, our payments related inquiries have changed a bit. More companies are looking for ways to accept payments and donations and either eliminating or reducing the normal methods in which they typically accept payments.
2 min read
Understanding the Benefits of SMS Payments For Transportation
By Coleman Akey on Apr 2, 2020 11:02:00 AM
SMS payments, or “Pay by Text payments”, allow customers to pay for services or goods via a mobile phone text message. The customer typically receives a text prompting them to initiate payment via a website interface or additional text messaging. Almost any business that takes payments for goods or services can realize operational costs savings and an uptick in collected revenues by choosing to accept payments by text message.
2 min read
SMS Payment Solutions: The 2021 Guide
By Coleman Akey on Mar 30, 2020 8:00:00 PM
The 2021 payments landscape demands sophisticated check acceptance risk mitigation tools. Businesses now have a new tool for collecting customer payments. SMS Payment Solutions allow businesses to:
1 min read
Don't Miss Out on IVR For Property Management!
By Coleman Akey on Mar 27, 2020 5:11:26 PM
When rent payments come due, you don’t want your property management staff overwhelmed! If your property management complex is closed on the weekends, clerks are likely to be overwhelmed as soon as they open on the next available business day. Likewise, today’s customers expect to be able to make payments whenever, wherever.
1 min read
An ACH API Case Study
By Wayne Akey on Mar 26, 2020 10:26:50 AM
ACH API Case Study:
2 min read
Why All Utility Companies NEED SMS Payments
By Coleman Akey on Mar 25, 2020 3:56:23 PM
Today’s consumer expects service easily and instantly, with practically 80% of consumers expecting national brand service leves from their local service provider counterparts. Pay by Text solutions, or Short messaging service (SMS) solutions, are a great way for your Utility Company to offer a simple, effective customer service option.
1 min read
Understanding IVR For Utility Companies
By Coleman Akey on Mar 25, 2020 11:54:02 AM
Despite the convenience of online payments, 62% of utility customers claim to prefer making a payment without logging into a system. Likewise, more than ¾ of general consumers have claimed to make at least one payment per month via the phone.
3 min read
Call Center Payment Processing
By Gene Krause on Mar 23, 2020 4:01:35 PM
Call center payment processing varies from organization to organization in terms of how it is managed, but the most used methods are from one of the following methods:
1 min read
1 min read
IVR Payments For Storage Facilities
By Coleman Akey on Mar 20, 2020 1:09:26 PM
78% of consumers have reported making at least one payment per month via phone payments, with 60% preferring our phones to make payments. This means storage facilities are in a prime position to utilize an IVR Payments system in 2020.
1 min read
SMS Payments For Waste Management
By Coleman Akey on Mar 17, 2020 1:16:00 PM
The waste management sphere is seeing a major increase in the volume of electronic payments. More than 3/4 of consumers expect local service providers to offer the same degree of service as national brands, which simply makes having an electronic payments system that handles credit cards/ACH payments necessary in 2020. Short messaging service (SMS) solutions are a great way for your waste management company to offer a simple, effective customer service option.
4 min read
How Software Platforms Can Leverage Payment Facilitation As A Service To Gain Clients And Create New Revenue Streams
By Wayne Akey on Mar 16, 2020 8:51:18 AM
1 min read
IVR Payments For Waste Management
By Coleman Akey on Mar 15, 2020 3:38:11 PM
The public utilities and municipalities realm is experiencing a major increase in electronic payments. With 79% of consumers expecting local service providers to offer same level service as national brands, an electronic payments system that handles credit cards/ACH payments is a necessity in 2020. An Interactive Voice Response (IVR) system is a simple, effective way for your waste management business to provide more thorough customer service.
2 min read
What Does a Successful Payment Gateway Integration Look Like?
By Gene Krause on Feb 5, 2020 1:06:52 PM
Ideally, organizations looking for a Payment Gateway Integration for SaaS start considering their options far in advance of the new application going live. Or in the case of an existing application, far in advance of the need to flip the switch on for the payment processing functionality that the new payment gateway integration will be supporting.
If you'd like more detail you can view our whitepaper on Payment Gateway Intgeration
3 min read
Looking at the Correct Priorities in a Payment Gateway Integration?
By Gene Krause on Jan 27, 2020 10:02:35 PM
We're continually surprised at the differing perspectives and priorities that various organizations and companies have for integrating to a Payment Gateway Integration. However, there is one constant; each and every integrating organization or their client using base that sells a service or product. To put it simply, they are looking to make a profit from their sales via electronic transactions. Aren't we all (profit)?
3 min read
How does a Software Platform make money from Payment Facilitation As A Service?
By Wayne Akey on Jan 27, 2020 8:27:00 AM
For SaaS applications with payment needs, eg Rentlee, a landlord platform offering rent collection, Payment Facilitation as a Service allows the platform to act as a master merchant account. This allows landlords to be set up as sub-accounts and begin accepting rent payments instantly. In the past Rentlee would have had to spend hundreds of thousands of dollars and 6+ months to register with the card associations to act as a true Payment Facilitator.
1 min read
Top 5 Things To Look For In Your Payment Facilitation as a Service Provider Search
By Agile Payments on Jan 21, 2020 8:23:04 AM
Top 5 Things to look for in your Payment Facilitation as a Service Provider Search
2 min read
What does a successful Credit Card Payment Integration look like?
By Wayne Akey on Jan 21, 2020 8:15:00 AM
What does a successful Credit Card Payment Integration look like?
1 min read
Top 9 Things to look for from a Recurring Credit Card Integration API
By Wayne Akey on Jan 17, 2020 8:26:58 AM
Here are Top 9 Things to Look for from a Recurring Credit Card Payment Integration API
1-API availability: Does the partner offer a modern, elegant RESTful API
1 min read
How Payment Facilitation as as Service can power revenue growth for SaaS platforms
By Agile Payments on Jan 15, 2020 9:30:00 AM
How Payment Facilitation as as Service can power revenue growth for SaaS platforms
2 min read
How Strategic Credit Card Payment Integration Can Help Grow Platform Revenue and User Base
By Wayne Akey on Jan 14, 2020 1:53:40 PM
By integrating a Credit Card Payment Processing solution your application users gain the ability to accept credit and debit card payments from their end customer.
2 min read
Integrating the On-Boarding of ACH Processing in an SaaS Application
By Gene Krause on Jan 14, 2020 1:08:57 PM
Software applications that require payments functionality often can benefit from adding the ACH payment rail. That's especially true for applications that have a subscription or recurring payments component. Thus the application's management or stakeholders will look to various ACH Providers for discussing requirements and finding a solution that meets their needs.
3 min read
Pay By Text Solutions: Why Your Business Needs To Get On Board
By Wayne Akey on Jan 14, 2020 1:06:55 PM
Pay by Text payment solutions offer businesses a simple, cost effective method to securely collect customer payments.
2 min read
Media marketing - How to Leverage IVR for Order and Payment Acceptance
By Gene Krause on Jan 14, 2020 1:06:22 PM
Marketing products or services via mass media to consumers can result in an enormous number of consumer responses, sometimes flooding a call center or even some IVR systems. If the media used is television or radio, the consumer responses arrive at a narrow, but predictable time, further challenging an IVR system's capabilities. Having an IVR system that can handle the call load is just one critical issue that media marketers face in fulfilling their customer orders and accepting consumer payments.
3 min read
Late Payments Acceptance via IVR
By Gene Krause on Jan 14, 2020 1:05:24 PM
Interactive Voice Response (IVR) has been around for quite a while now, and it's use for payments acceptance has grown significantly in recent years. With recent advents in IVR systems along with increased cell phone adoption, businesses and organizations now have more tools to bill their customers and collect and accept late payments by phone.
2 min read
So You Need an ACH Transfer API - 2020
By Gene Krause on Jan 14, 2020 1:04:32 PM
What is an ACH Transfer API, anyway? Quite simply, it's an API that provides the ability for a software application to integrate ACH processing capabilities for the purpose of providing the application to originate, manage and report on the transfer of funds between bank accounts.
2 min read
What are your eCheck API requirements for 2020?
By Gene Krause on Jan 13, 2020 10:18:11 AM
If you're part of a SaaS dev team or a stakeholder and have determined that your application has a need for an eCheck API, have you defined your requirements?
3 min read
PCI IVR Payment Solution
By Wayne Akey on Jan 13, 2020 10:15:56 AM
3 min read
Best IVR Payment Systems
By Wayne Akey on Jan 13, 2020 10:15:05 AM
Best IVR Payment Systems: What to look for in your IVR Payment search
An IVR Payment Solution creates new customer option that allows customers to pay bills or invoices without involving business staff or resources. Customers dial into a phone and connect to an automated IVR system that interacts via voice prompts with the caller, allowing them to pay amounts due without human interaction from the business side.
2 min read
Where are the ACH API Providers?
By Gene Krause on Jan 13, 2020 10:14:27 AM
ACH API Providers are organizations that provide an API for the purpose of integrating a software application to originate and manage ACH transactions.
2 min read
ACH Payment API Requirement Considerations for 2020
By Gene Krause on Jan 13, 2020 10:13:45 AM
Many software applications have a need to accept payments, and many require the need to integrate payments functionality via an API. For some of these application organizations, integrating to a credit card API isn't enough and have a need to integrate to an ACH Payment API.
3 min read
IVR Transactions
By Wayne Akey on Jan 13, 2020 10:12:55 AM
IVR Transactions: Interactive Voice Response for Inbound Customer Payment Transactions
IVR Transactions occur when customers call into an IVR Payment Solution.
2 min read
IVR Payment Software
By Wayne Akey on Jan 13, 2020 10:12:13 AM
IVR Payment Software: What are your options in your IVR Payment Solution search
IVR Payment Software Solutions offer payment options that allow clients to pay bills or invoices via self service. Customers dial into a phone and connect to an automated IVR system and interact via voice prompts, allowing customers them to pay amounts due without human interaction from the business side.
3 min read
IVR Gateway
By Wayne Akey on Jan 13, 2020 10:10:54 AM
PCI Compliant IVR Payment Gateway Solutions – Interactive Voice Response for Phone Based Customer Payments
An IVR Gateway provides automated phone based payment acceptance solution for organizations.
2 min read
IVR Tokenization : PCI Compliance for IVR Payments
By Wayne Akey on Jan 9, 2020 3:16:39 PM
PCI Compliant IVR Tokenization Solutions – Interactive Voice Response for Phone Based Customer Payments
Credit card data is required to be handled in a PCI compliant manner. IVR Tokenization is the process that securely exchanges full credit card number for a non-sensitive replacement value in an IVR Payment Solution.
2 min read
IVR Billing
By Wayne Akey on Jan 9, 2020 3:09:46 PM
IVR Billing - 24/7/365 Automated Customer Payment Center
1 min read
IVR Phone Payment
By Wayne Akey on Jan 9, 2020 3:08:36 PM
IVR Phone Payments- 24/7/365 Automated Customer Payment Center
2 min read
Considering an ACH Payments API in 2020
By Gene Krause on Jan 9, 2020 1:52:17 PM
Software organizations that serve a customer base having recurring payments can better position themselves by integrating to an ACH Payments API. There are many reasons this is true, but the underlying fact that allows this is that these type organizations have a customer base of a subscription nature and who know their customers well.
2 min read
ACH API Provider 2020, What Is Needed?
By Gene Krause on Jan 9, 2020 1:51:37 PM
If your organization is looking to integrate ACH payment processing, you likely have compiled a list of what your requirements are that are needed from the ACH API Provider. Integrating organizations can differ greatly in their needs, so be sure to have your transaction flows documented.
2 min read
Canadian EFT - API Integration
By Gene Krause on Jan 9, 2020 1:47:29 PM
Many organizations are stuck in the world of managing their Canada EFT transactions by way of file submission. In some cases using antiquated windows software that is limited at best in ongoing maintenance. Fortunately there are Canadian EFT API integrations available.
3 min read
Payment Facilitation Providers
By Wayne Akey on Jan 9, 2020 1:45:50 PM
Payment Facilitator Provider: Who do you work to become a Payment Facilitator?
A Payment Facilitator or PayFac acts as a the Master Merchant. The Payment Facilitator role is to quickly and easily onboard their sub merchants or SaaS platform users to facilitate credit, debit card and in some case ACH transactions for participants in their payment ecosystem. The Payment Facilitator is responsible for regulatory compliance and has financial risk of their sub-users.
In the past the only Payment Facilitator Provider offering was to become a “True PayFac”. Becoming a true Payment Facilitator is expensive, time consuming and requires staffing to meet compliance and risk mitigation demands. In essence you become a payment business in addition to to your core SaaS offering.
3 min read
Check Verification Process
By Coleman Akey on Jan 9, 2020 1:43:50 PM
In 2020 the payment landscape demands sophisticated check acceptance risk mitigation tools. A Check Verification Process mitigates check acceptance risks at the point of sale, with verification options ranging from automated routing number check and negative database options, to near real-time inquiries into current checking account status.
2 min read
ACH Payment Gateway API
By Gene Krause on Jan 9, 2020 1:26:52 PM
While the ACH network is still a batch network, utilizing an ACH Payment Gateway API can do wonders for software applications in enhancing their capabilities by communicating with a real-time communication integration. Let's examine some of the modern communication tools available from these ACH gateways.
2 min read
Payfac Companies
By Wayne Akey on Jan 9, 2020 1:25:35 PM
Payment Facilitator Companies
A Payment Facilitator takes on the role of the Master Merchant. The primary benefit to becoming a Payment Facilitator is that you can quickly and easily enroll your app users and enable processing of credit, debit card and in some case ACH transactions .
As an example: A SaaS offers an invoicing solution eg QBooks. Businesses that want to leverage their invoicing solution complete a simple application and 15 minutes or so later they are approved and set up to accept customer payment. For our example let’s say the business name is “Best Landscapers”. They applied and are now approved and ready to bill/invoice there customers using the QBooks platform.
2 min read
Payment Facilitator versus Payment Processor
By Wayne Akey on Jan 9, 2020 1:24:43 PM
Payment Facilitator versus Payment Processor : What’s the Difference
3 min read
Payment Facilitator Program
By Wayne Akey on Jan 9, 2020 1:23:46 PM
Payment Facilitator Programs
Payment Facilitators [Payfacs] are Master Merchants that process credit and debit card transactions for their sub-merchants within their payment application.
2 min read
Payment Facilitator Tools
By Wayne Akey on Jan 9, 2020 1:22:07 PM
Payment Facilitator Tools
A Payment Facilitator takes on the role of Master Merchant. This allows them to set up their application users to accept payments. The major benefit to becoming a Payment Facilitator is to quickly and easily onboard sub clients or SaaS platform users to facilitate credit, debit card and in some case ACH transactions .
An example: A SaaS offers an business management solution for Yoga Studios. The software is call Yoga101. Yoga 101 uses Payment Facilitator Tools to allow quick sign up and provide payout and compliance functionality.
3 min read
Payment Facilitator or Payments Partnership? Which option is the better fit for your SaaS
By Coleman Akey on Jan 9, 2020 1:20:44 PM
SaaS companies that offer payment processing solutions must decide whether of not become a Payment Facilitator or engaging in a Payments Partnership is the most viable solution for their business. Neither is
1 min read
Text Payment Solutions: 7 Things to look for from your Text to Pay Provider
By Wayne Akey on Jan 9, 2020 1:20:05 PM
Text payment solutions offer businesses a fantastic tool for automating payment and especially late payment collection.
1 min read
IVR Payments for Insurance Premiums
By Agile Payments on Jan 9, 2020 1:18:35 PM
An insurance company looking to streamline payments by phone had the following issues:
- The insurance company was looking to provide excellent customer service, but the volume of calls received made doing this a difficult challenge. The Insurance company’s most frequent calls were from clients making payments. Agents spent significant time processing payments manually, resulting in expanded average call handling and hold times. The Insurance company was looking to automate this process.
- Automating payments meant that the Insurance company had to have a PCI compliant solution that did not expose sensitive card data.
- The Insurance company sought to drive down operating costs while balancing superior customer service.
The Solution
- The Insurance company integrated the AgilePayments IVR platform to build a user-friendly workflow to handle its payment processing needs. The AgilePayments solution offered a modular, intuitive solution build, customized to the Insurance company needs.
- The Insurance company’s application was built and deployed in AgilePayments secure, PCI-compliant network. This allowed the Insurance company to utilize the AgilePayments platform to both operate and maintain a secure environment to process critical customer financial data.
- Data analysis and tracking allowed the Insurance company to measure automation rates and to monitor how customers used the IVR payment application.
Results
- Following deployment of the Insurance company payment IVR application, close to 90% of payment-related calls were handled by the automated IVR payment system. This reduced average cost per call from over $4 to about 30 cents, or over 90% reduction in costs.
Utilizing AgilePayments IVR platforms enable Insurance companies to significantly improve their customer service offerings while at the same time dramatically reducing costs. With an automated payment application in place, live agents spend more time providing high-touch service for customer inquiries.
2 min read
Managed Payment Facilitation and HealthCare Applications
By Wayne Akey on Sep 26, 2019 1:16:53 PM
2 min read
Risks of Direct Deposit Payroll Processing
By Gene Krause on Sep 24, 2019 1:21:44 PM
Recent news has once again exposed the reality that there are inherent risks for a third party ACH processor in handling and processing payroll transactions for a company who handles payroll for multiple companies or even a single company's needs.
2 min read
Payment Facilitation Solutions For Property Management Platforms
By Wayne Akey on Sep 20, 2019 7:32:00 AM
Payment Facilitation allows a SaaS application the ability to accept payments on behalf of its end users. The platform users complete a simple application and in minutes can begin accepting credit cards and in some cases ACH Payments.
This ability to onboard clients without having the user apply for a traditional merchant account [that can take days and require supporting documentation like bank statements and tax returns] offers a friction-free onboarding experience.
Payment Facilitation at its core offers instant onboarding of platform users. If that is not an absolute necessity there are alternative that will better meet needs. See Payment Processing Partnerships.
2 min read
Why Canada EFT Integration is Difficult
By Agile Payments on Sep 19, 2019 8:41:09 PM
What is Canada EFT?
3 min read
Property Management, Leveraging an ACH Integration
By Gene Krause on Sep 19, 2019 12:59:12 PM
Property management applications are extremely popular today. There is rarely a week that goes by where we are not contacted by a software application that serves property management in some way or another. Often, we are discussing payments solutions with many at one time.
2 min read
Is ACH a Requirement for Applications With a Recurring Payments Component?
By Gene Krause on Sep 10, 2019 3:48:16 PM
Applications that have a subscription component can differ in many ways, but almost universally there is an advantage for the application to integrate to an ACH API for origination and management of recurring payments. requirement, maybe not. Advantage to integrate and offer, most certainly.
One of the common problems that subscription based applications
2 min read
Hybrid Payment Facilitation for SaaS Platforms
By Wayne Akey on Sep 10, 2019 10:27:02 AM
A Payment Facilitator can be thought of as a Master Merchant that facilitates and processes credit and debit card transactions for their platform users.
2 min read
Managed Payment Facilitation : What is it and is it right for your SaaS?
By Wayne Akey on Sep 3, 2019 7:50:06 AM
Managed Payment Facilitation : What is it and is it right for your SaaS
5 min read
The ACH Payment Aggregator Debate: Why Your Business Should Consider a Partnership
By Wayne Akey on Aug 27, 2019 2:17:00 PM
For a business owner, selecting the best and most cost-effective method of accepting customer payments can be confusing and overwhelming, particularly as the range of payment options continues to grow.
A payment aggregation solution offers a platform the ability to act as a master merchant and instantly onboard application sub-users. These users can complete a simple form and in minutes begin accepting payments.
4 min read
Reducing Credit Card Declines: How Subscription Billing Management Providers Can Address Business’s Biggest Revenue Threat
By Wayne Akey on Aug 8, 2019 8:00:00 AM
The 2019 payments landscape has inherent risks for any SaaS applications.
For example, imagine you are a business owner with 500 customers that you bill $100 per month on a recurring basis. Your business runs and plans based on $50,000 per month coming in the door on a regular basis. It took a long time and a lot of work to get to the point where your business generates that amount of reliable predictable income. You pay salaries, rent, handle plan development, and manage marketing campaigns ALL around that recurring revenue.
2 min read
Bank Account Owner Authentication Service: Moving Beyond Check Verification Services
By Coleman Akey on Aug 6, 2019 11:39:00 AM
Bank Account Owner Authentication Service: Moving Beyond Check Verification Services
3 min read
ACH Payment Facilitation
By Gene Krause on Jul 15, 2019 10:34:16 AM
The ACH Facilitator : What you must know
4 min read
SaaS - Expanding Market Reach to Canada With Payments
By Gene Krause on May 28, 2019 2:15:18 PM
Have a software application with a payments requirement and want to enter the Canadian market? We'll show you how.
Overview
Payment Rails
EFT API
Processing Costs
Recurring Payments
Payment Facilitation
Overview: For software applications, especially those that serve a vertical base of client user organizations, one logical way to expanding market reach is to open up the application to countries outside your initial geographical focus. Often the logical choice is a near or adjoining country. In the case of applications that were born is the United States the choice is commonly Canada.
2 min read
SMS Payment Provider
By Wayne Akey on May 13, 2019 3:25:07 PM
SMS Payment Provider | Pay by Text Provider 2019
3 min read
SMS Payment Gateway
By Wayne Akey on Apr 29, 2019 7:48:38 AM
4 min read
MarketPlace Payments : What you must know
By Wayne Akey on Apr 17, 2019 9:43:00 AM
Looking to leverage or provide MarketPlace Payments? What you must know
2 min read
MarketPlace Payment Solution Challenges
By Wayne Akey on Apr 16, 2019 9:42:17 AM
MarketPlace Payment Solutions
1 min read
The role of the Payment Gateway for MarketPlace Payments 2021
By Wayne Akey on Apr 15, 2019 10:41:15 AM
The role of the Payment Gateway for MarketPlace Payments
When evaluating technical payment solutions that address the primary needs of a MarketPlace Payment solution the integration to the Payment Gateway plays a vital role in the MarketPlace success. For platforms considering launching or monetizing their MarketPlace payments play a vital role in both the success [or failure] of the platform as well as a primary revenue driver6.
1 min read
MarketPlace Payments and the Merchant of Record: What does it mean?
By Agile Payments on Apr 15, 2019 9:47:00 AM
MarketPlace Payments and the Merchant of Record: What does it mean?
2 min read
Utilizing a Canada Electronic Funds Transfer
By Coleman Akey on Mar 22, 2019 11:26:00 AM
Canada Electronic Funds Transfer is easiest and most cost effective solution to managing Canadian ACH, allowing businesses based in Canada to debit checking accounts for one-time or recurring payments.
2 min read
Canada Electronic Funds Transfer
By Coleman Akey on Mar 22, 2019 11:24:00 AM
Canada Electronic Funds Transfer processing options are scarce compared to the ACH processing providers available in the United States. Options are limited because of the small number of banks that run the payments sphere. This makes it difficult to gain access to Canada EFT processing.Utilizing a canada electronic funds transfer allows Canadian businesses to debit checking accounts for one-time or recurring payments.
3 min read
Understanding the Benefits of Hybrid Payment Aggregation
By Wayne Akey on Mar 21, 2019 2:05:00 PM
The decision to become a Payment Aggregator or Payment Facilitator (Payfac) has massive implications for a SaaS application provider.
3 min read
5 Things You Must Have To Become A Payment Facilitator in 2021
By Wayne Akey on Mar 21, 2019 9:46:00 AM
Payment facilitation is the process by which one entity, a master merchant, processes or facilitates payments on behalf of a base of sub merchants.
3 min read
Payment Aggregation: What Can Possibly Go Wrong?
By Wayne Akey on Mar 21, 2019 9:00:00 AM
For the SaaS provider, the potential advantages of becoming a Payment Aggregator can be compelling. The Payment Aggregator model can seem very attractive, both for ease of onboarding and potential revenue generation.
3 min read
Why the Payment Aggregator Business Model is Compelling
By Gene Krause on Mar 21, 2019 8:00:00 AM
Payment Aggregation, or Payment Facilitation (Payfac), allows a SaaS company to act as a master merchant for its users. The SaaS provider onboards its clients via a fairly non-intrusive application process, and this easy, fast onboarding makes it simple for the SaaS company’s users to begin accepting customer payments very quickly.
6 min read
Payment Aggregation
By Wayne Akey on Mar 20, 2019 3:41:00 PM
Becoming a Payment Facilitator, Payment Service Provider [PSP] or Payment Aggregator. Being a Payment Facilitator can be thought of as being a Master Merchant, facilitating credit and debit card transactions for sub-merchants within your payment ecosystem. Becoming a PSP (also known as PayFac) lends itself well to some businesses that fall into the software provider classification. However, with the many advantages come some unique challenges. We’ll discuss both in this article.
Payment Aggregation
By Agile Payments News on Mar 20, 2019 2:20:00 PM
Becoming a Payment Facilitator, Payment Service Provider [PSP] or Payment Aggregator.
In Payment Aggregation, being a Payment Facilitator can be thought of as being a Master Merchant, facilitating credit and debit card transactions for sub-merchants within your payment ecosystem. Becoming a PSP (also known as PayFac) lends itself well to some businesses that fall into the software provider classification. However, with the many advantages come some unique challenges.
3 min read
Checklist for Finding the Best Payment Aggregation Partner
By Gene Krause on Mar 20, 2019 2:16:00 PM
The number of SaaS companies looking into payment processing on behalf of their customers is growing rapidly. More and more companies are looking at Payment Aggregation | Payment Facilitation as an attractive option to provide a service that offers fast, easy onboarding for their customers and generate new revenue streams in the process.
3 min read
5 Things You Must Have To Become A Payment Aggregator in 2021
By Wayne Akey on Mar 20, 2019 2:14:00 PM
Payment aggregation or payment facilitation allows one entity, or master merchant, to process or facilitate payments on behalf of sub merchants.
2 min read
What is a Managed PayFac?
By Coleman Akey on Mar 19, 2019 2:09:00 PM
3 min read
Payment Facilitation: What Can Possibly Go Wrong?
By Wayne Akey on Mar 19, 2019 12:22:10 PM
For the SaaS provider, potential advantages in becoming a Payment Facilitator (aka Payment Aggregation) are compelling: payment facilitation drives ease of client onboarding and unlocks a new stream of revenue generation.
2 min read
Why the Payment Facilitator Business Model is Compelling
By Wayne Akey on Mar 19, 2019 12:15:54 PM
Payment facilitation, or operating as a “PayFac” allows a SaaS company to act as a master merchant for its client base. The SaaS provider onboards clients via a non-intrusive application process -- making it simple for the user base to quickly begin accepting customer payments by credit card or ACH Payments [some providers offer].
4 min read
3 Ways to Become an ACH PayFac
By Wayne Akey on Mar 19, 2019 12:14:48 PM
4 min read
Payment Facilitation and MyEvent.com : An interview with Rob Hirscheimer
By Wayne Akey on Mar 19, 2019 12:14:04 PM
An interview with MyEvent.com. Early adopters of the PayFac business model MyEvent.com has successfully implemented payment facilitation and used it to grow their business and acquire new clients.
4 min read
Payment Facilitation and Property Management SaaS applications
By Wayne Akey on Mar 19, 2019 12:13:30 PM
5 min read
Why WePay is Wrong About PayFac ROI
By Gene Krause on Mar 19, 2019 12:12:42 PM
Recently, PYMNTS, a leading payments and commerce industry news site published a piece on PayFacs based on an interview with WePay co-founder Richard Aberman.
Hyperbole aside, we want to examine Mr. Aberman’s view and provide some balance to the conversation for companies exploring payment facilitation.
3 min read
Two key ways Payment Facilitation can change your business. Why SaaS platforms should consider becoming a PayFac.
By Wayne Akey on Mar 19, 2019 12:12:04 PM
Payment facilitation, or PayFac allows a SaaS company to act as a master merchant for its client base. The SaaS provider onboards clients via a non-intrusive application process -- making it simple for the user base to quickly begin accepting customer payments by credit card.
4 min read
So You Want To Be a Payfac? The Number One Question You MUST Ask
By Wayne Akey on Mar 19, 2019 12:10:44 PM
So you want to be a PayFac? The 1 question you must answer
3 min read
Another Reason for SaaS platforms to become a PayFac or Payment Facilitator
By Wayne Akey on Mar 19, 2019 12:09:52 PM
We get frequent inquiries from SaaS platforms and start ups about becoming a PayFac or Payment Facilitator.
2 min read
Managed Payfac Solutions
By Coleman Akey on Mar 19, 2019 12:08:41 PM
Businesses that are Payment Facilitators [Payfacs] are in essence Master Merchants that process credit and debit card transactions for their sub-merchants within their payment application.
3 min read
Is Frictionless Onboarding Worth the Risk?
By Wayne Akey on Mar 18, 2019 12:50:00 PM
If you’ve considered becoming a Payment Facilitator (PayFac) for your SaaS customer base, you’re familiar with the term “KYC,” or Know Your Customer. As the payment processing industry continues its trend of explosive growth, however, KYC might be more accurately termed “CYA.”
4 min read
7 Must-Haves in a Payment Facilitation Partner
By Gene Krause on Mar 18, 2019 12:40:00 PM
As the idea of Payment Facilitation gains traction, more and more SaaS companies are exploring becoming a PayFac. Conceptually, it is an attractive feature to introduce: fast, easy, onboarding and new means of revenue generation. In fact, independent software vendors and SaaS companies are poised to generate $4.4 billion in revenue from payment processing alone by 2021.
There exists a number of issues that need consideration prior to becoming a Payment Facilitator or Payfac, however. While the benefits of facilitation are clear, companies cannot overlook the essentials of selecting a facilitation partner. The nature of your partnership will be key in ensuring appropriate customer service, profit generation and risk or liability mitigation.
3 min read
Looking to become a Payment Facilitator as an SaaS application?
By Wayne Akey on Mar 18, 2019 12:34:00 PM
Steps to becoming a Payment Facilitator are outlined below.
9 min read
Why Every SaaS Platform Should Consider Becoming a PayFac
By Wayne Akey on Mar 18, 2019 12:31:00 PM
EXECUTIVE SUMMARY
SaaS platforms and Software vendors have a unique opportunity. Whether you already offer some type of payment collectionoption or have an application that has the potential to leverage payments there has never been a better time to explore your options.
2 min read
3 Sure Signs that becoming a Payment Facilitator IS NOT for Your SaaS App
By Wayne Akey on Mar 18, 2019 12:24:00 PM
Payment facilitation or payment aggregation allows one entity, the master merchant, to process or facilitate payments for a base of sub-merchants. For SaaS providers these are typically application end users or customers.
2 min read
Can an ACH API benefit your organization? 2021 Version
By Gene Krause on Feb 25, 2019 2:49:00 PM
ACH payments and disbursements aren’t new. ACH payments have been around since 1974, and by the end of 2016, the total volume of ACH processing exceeded $40 trillion. If you have made monthly AutoPay payments for your mortgage, paid a credit card bill or received salary as direct deposit, those transactions were via ACH.Any SaaS application that has a user base with recurring or subscription payments needs must include ACH payments as a payment rail option. In many cases ACH should be the defacto payment method for anything recurring. The simple fact is that ACH transactions have much lower processing costs than do credit card transactions. Further, credit card decline rates can cause havoc with recurring payments because of much higher decline rates. How the SaaS development team decides to manage recurring payments should be their choice. They may opt to utilize the ACH API’s recurring scheduling system or, manage the recurring schedule within their application.
2 min read
Why an ACH Processing API? 2019 Guide
By Gene Krause on Feb 25, 2019 2:46:00 PM
For software applications that have an end-user base in a subscription model or include recurring transactions, an ACH Processing API is a must. Sure, few of these SaaS applications would want to discount the use of credit card processing because it's a commonly used payment modal, but being subscription based sets the application into an area of knowing their customer base much differently than some business that sells widgets on a one-time basis to consumers that might never revisit or occasionally purchase goods or services. Moreover, customers of these subscription based businesses more than likely rely on receiving their goods or services that the organization and SaaS provides.
2 min read
Recurring ACH API 2021
By Agile Payments on Feb 25, 2019 2:28:13 PM
Recurring ACH API For SAAS Platforms
2 min read
ACH Transfer API - 2019 Guide
By Wayne Akey on Feb 25, 2019 2:26:53 PM
How can an ACH Transfer API help your business or SaaS?
An ACH Transfer API provides an additional payment option: Using the ACH network allows a business to debit or credit checking and savings accounts.
3 min read
Does an ACH Integration Make Sense?
By Gene Krause on Feb 12, 2019 6:36:41 PM
Some applications are more favorably aligned with acceptance of eCheck (ACH) transactions than others. Applications that are proprietary and align themselves well with eCheck acceptance and only support their business can often start out with using an external transaction management tool for payment origination and management. On the other hand, applications that are used my multiple organizations or businesses are far less likely in being able to get by with utilizing an external payment management tool. Let's examine some key areas that factor in to whether and when an ACH Integration might make sense.
3 min read
Top 5 New Apps and Their Future
By Amanda Peterson on Feb 11, 2019 10:37:03 AM
Even though 2019 is only two months old, there are many new apps available for both Android and Apple devices. From improvements in health to new tech assistants, these apps will be helpful now and into future.
1 min read
ACH Check Validation Providers
By Coleman Akey on Jan 29, 2019 8:54:53 PM
The majority of the time payment rejects are accidents, and making customers go through the hassle of the sale process again will undoubtedly lead to a fraction of those sales being lost. By leveraging checking account verification tools businesses can reduce the chance of losing customers over simple data entry errors. Businesses that rely on future billing are especially vulnerable to bad check data, utilizing ACH Check Validation Providers can dramatically reduce bad check acceptance and the subsequent workflow problems.
2 min read
P2P Payment Apps and Challenges
By Wayne Akey on Jan 29, 2019 12:14:30 PM
We receive regular inquiries from start-ups as well as established businesses that believe they have a killer app that can be the next Venmo or Zelle.
3 min read
IVR Payments - Not Just For Inbound Calls
By Gene Krause on Jan 29, 2019 10:58:25 AM
Businesses that have employed Interactive Voice Response technologies for acceptance of payments are generally more familiar with an IVR solution that focuses on inbound calls. Inbound IVR Payments do a wonderful job at eliminating customer service time spent on the phone where they provide customers their invoice amounts and details about the receivables, then collecting payment information where they enter it into whatever payment origination software that they are using for processing.
1 min read
Verifying Bank Account Ownership: Understanding your Options
By Coleman Akey on Jan 23, 2019 12:22:59 PM
Advances in the online payments sphere have now made it possible for businesses to verify bank account ownership. This real-time checking account verification can confirm that a consumer or business owns the account, and is authorized to transact.
Verifying Bank Account Ownership via an online application provides businesses with comprehensive, instantaneous insight into the person/business whose check payment the business wants to accept or enroll in a recurring billing plan.
1 min read
ACH Check Validation
By Coleman Akey on Jan 15, 2019 6:04:50 PM
The ACH Check Validation Services allow merchants to reduce check acceptance risk at the point of sale (both online and in person). Available options include:
2 min read
Payment Facilitation Problems: What you should know about potential funding issues
By Wayne Akey on Jan 8, 2019 2:14:17 PM
Payment Facilitation Problems: What you should know about potential funding issues
2 min read
Payment Facilitator Provider
By Wayne Akey on Dec 18, 2018 12:26:29 PM
Payment Facilitator Provider
Payment Facilitators [Payfacs] act as Master Merchants that process credit and debit card transactions for their sub-merchants within their payment application. Typically a Payment Facilitator would be a software platform that serves a specific vertical market eg Event ticketing.
2 min read
Payment Facilitating : What is it and can it help your SaaS platform
By Wayne Akey on Dec 13, 2018 10:44:35 AM
A Payment Facilitator or PayFac assumes the role of Master Merchant. Payment Facilitating allows the Master Merchant to quickly and easily onboard their sub merchants or in the case of a SaaS platform Payment Facilitating allows platform users to the ability to accept credit, debit card and in some case ACH transactions for participants in their payment ecosystem.
2 min read
Checking Account Owner Authentication Service: How can it Help your Business?
By Coleman Akey on Dec 12, 2018 1:53:25 PM
The ability to verify checking account ownership is a pivotal element of reducing the risk of enrolling a new customer with potentially bad check information.
2 min read
Bank Account Verification: Understanding Risk Mitigation Options
By Coleman Akey on Dec 6, 2018 4:52:08 PM
The ACH or electronic check world unfortunately lacks the authorization component present with credit cards, making Bank Account Verification a necessity for SaaS businesses looking to mitigate payment acceptance risks.
1 min read
Is Payment Facilitation a Good Option For SAAS or Platform
By Wayne Akey on Dec 6, 2018 1:07:02 PM
Is Payment Facilitation a good option for your SAAS or Platform?
2 min read
Bank Account Validation: Exploring Your Options
By Coleman Akey on Dec 4, 2018 4:33:53 PM
Bank Account Validation allows merchants to mitigate check acceptance risk at the point of sale by providing an opportunity to validate that an account is open and in good standing prior to the account being loaded into a recurring billing engine. This means that data entry errors, potentially closed accounts, or fraud can be caught before finalizing the sale.
2 min read
Why a SAAS platform can become a Payment Facilitator but WILL NOT be the next Stripe
By Agile Payments on Dec 4, 2018 11:22:24 AM
Why a SAAS platform can become a Payment Facilitator but WILL NOT be the next Stripe
4 min read
4 Common Payment Obstacles Facing the SaaS Industry
By Elisa Abbott on Dec 3, 2018 11:18:39 AM
The SaaS (Software-as-a-Service) companies/startups have popped up all around the world. They are bringing value to people’s lives simply through the product and that has become a true hallmark of modern times.
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Payment Facilitator Systems
By Wayne Akey on Oct 18, 2018 8:44:03 AM
Payment Facilitator Systems
A Payment Facilitator assumes the role of the Master Merchant. The major benefit to becoming a Payment Facilitator is to quickly and easily onboard sub clients or SaaS platform users to facilitate credit, debit card and in some case ACH transactions .
Let’s use an example: A SaaS offers an invoicing solution eg MyBooks. Businesses that want to leverage their invoicing solution complete a simple application and 15 minutes or so later they are approved and set up to accept customer payment. For our example let’s say the business name is “Best Landscapers”. They applied and are now approved and ready to bill/invoice there customers using the MyBooks platform.
1 min read
Account Verification System
By Coleman Akey on Oct 16, 2018 1:00:36 PM
Account Verification Systems confirm that a bank account is open and in good standing prior to the account being loaded into the billing engine. This means that data entry errors, potentially closed accounts, or even fraud can be caught before the sale’s confirmation. Verification automation also completes the 2021 NACHA requirement for Bank Account Validation.
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Bank Account Verification Services
By Coleman Akey on Oct 15, 2018 11:53:37 PM
While authorization is a important aspect of the credit card sphere, the ACH realm lacks such an authorization component. When it comes to credit cards, a merchant knows they are getting paid at the point of sale because they can verify that the customer has the requisite funds on their cards at the time of payment. This reserves those funds for capture and settlement.
2 min read
Verify Business Bank Account
By Coleman Akey on Oct 13, 2018 11:33:00 AM
Unlike the credit card arena, the ACH world lacks an authorization component. Essentially, a merchant knows they are getting paid at the point of sale because credit cards allow you to authorize at the time of payment that the customer has the requisite funds on their cards. This reserves those funds for capture and settlement.
Because the ACH world lacks the verification component present with credit card payments, knowing How to Verify a Business Bank Account is a priority for businesses in the ACH realm.
Many business compensate for this lack of authorization buy implementing a Checking Account Verification system to mitigate payment acceptance risk. Without an ACH Verification System obtaining your new customer’s valid checking account information can be a hassle.
1 min read
Verify Funds
By Agile Payments on Oct 12, 2018 11:14:00 AM
Unlike credit cards, which can be authorized in real time, the ACH world lacks a real-time authorization component. Credit cards allow merchants to authorize a sale at the time of the payment, so the merchant will know that they are definitely getting paid. A business knows that their customer has the requisite funds on their card to make their payment in real time, and the funds are reserved.
So, we can see how credit cards are validated, but how can we Verify Funds for a checking account?
Understanding How to Verify Funds online is a merchant’s best bet to reduce check acceptance risks, and verification tools reduce payment acceptance risk by validating the customer’s bank account in real-time.
The validation process helps merchants lower their risks when accepting checks through the use of real-time verification tools. Most third party entities that offer Bank Account Validation services include negative databases, routing account number validation, and ATM networks.
2 min read
Bank Account Validation
By Coleman Akey on Oct 11, 2018 10:16:00 AM
The ACH world lacks the authorization component that is present in the credit card sphere. Credit cards allow merchants to authorize a sale at the time of the payment, so the merchant will know that they are definitely getting paid. A business knows that their customer has the requisite funds on their card to make their payment in real time, and the funds are reserved.
So, we can see how credit cards are validated, but how does the Bank Account Validation process work?
Businesses adopt Bank Account Validation systems in order to mitigate the risk associated with payment, without these systems your customers will most likely be required to do significant work to obtain correct or valid bank account information.
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How to Verify a Check is Good?
By Coleman Akey on Oct 10, 2018 10:11:14 AM
Checking Account Verification Services mitigate check acceptance risks at the point of sale, with verification options ranging from automated routing number check and negative database options, to near real-time inquiries into current checking account status.
How to verify a check is good:
Most checking account verification services utilize routing account number validation, which identifies the bank the check is drawn against. These databases can be checked in real time.
Negative databases are also often utilized. Based on positive and negative history of that checking account info, a report is generated regarding the account status. If the check is good or bad, a retailer can report that check status to the database. Many retailers contribute data to the network, so there are many millions of checking accounts to reference.
1 min read
How to Verify Bank Account Number Online
By Coleman Akey on Oct 9, 2018 9:53:38 AM
Most third party entities that offer a Checking Account Verification Service utilize routing account number validation and negative databases. The bank routing number identifies the bank the check is drawn against.
2 min read
ACH Verification Process
By Coleman Akey on Oct 8, 2018 10:43:47 PM
Unlike the credit card realm, the ACH world lacks an authorization component. Essentially, a merchant knows they are getting paid at the point of sale because credit cards allow you to authorize at the time of payment that the customer has the requisite funds on their cards; thereby reserving those funds for capture and settlement.
So what is the ACH Verification Process?
The lack of the authorization present with credit cards leads some business to implement a Checking Account Verification system to mitigate payment acceptance risk. Without an ACH Verification System your new customer may require significant work to obtain correct or valid checking account information.
An ACH Verification Process helps merchants reduce risks associated with check acceptance at the point of sale, in person or online. Verification tools allow businesses to significantly reduce payment acceptance risk by validating a customer’s bank account in real-time.
Verification options range from negative databases and automated routing number checks to basically real-time inquiries into current account status and checking account balance inquiries.
How to verify a check is good?
Most third party entities that offer an ACH Verification Process include the most basic tools: routing account number validation and negative databases. The bank routing number identifies the bank the check is drawn against. The databases holding this information can be checked in real time. Negative databases exist as a history [both positive/negative] of checking account info. Many retailers contribute data to the network, but recency is an issue because the customer’s last written check at a participating retailer is the last data point. This means that data can be out of date.
2 min read
ACH Verification Process
By Coleman Akey on Oct 5, 2018 9:50:01 AM
Unlike the credit card realm, the ACH world lacks an authorization component. Essentially, a merchant knows they are getting paid at the point of sale because credit cards allow you to authorize at the time of payment that the customer has the requisite funds on their cards; thereby reserving those funds for capture and settlement.
2 min read
Bill Presentment Solutions
By Gene Krause on Sep 10, 2018 3:51:42 PM
The days of organizations mailing out invoices and billing statements to their customers are slowly but surely coming to an end. Technology is making sure of that. What's replacing snail-mailed billing statements? It's not just one particular service type, but near the top of the list would be Bill Presentment Solutions.
2 min read
Why Electronic Bill Payment Services?
By Gene Krause on Aug 31, 2018 8:08:00 AM
As the populations ages and customers of a younger age become bill payers of businesses and organizations, the greater the need for payment remittance to be accomplished through electronic systems. Electronic Bill Payment Services is one such system that businesses should consider adopting. Here's why.