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.
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..
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.
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.
Steps to becoming a Payment Facilitator are outlined below.
Payment facilitation is the process by which one entity, a master merchant, processes or facilitates payments on behalf of a base of sub merchants.
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..
The decision to become a Payment Aggregator or Payment Facilitator (Payfac) has massive implications for a SaaS application provider.
Payment collection is generally considered the most important business task and the most dreaded. A recurring billing solution is a fantastic tool to ease the burdens associated with payment collection by making your SaaS application user’s business..
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.
If you were to make a list of the top 10 SaaS providers in the market today and in turn list what makes them so successful, having business partnerships would certainly be a common trait among them.
If you’re a business owner, you know how frustrating it can be to wait to collect on payments. Accepting credit cards is meant to ease some of that frustration with faster acceptance and payment from customers.
"Give me a lever long enough and a fulcrum on which to place it, and I shall move the world." - Archimedes
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..
Payment collection is vital for merchants relying on subscriptions and recurring billing. Unfortunately, credit card decline rates present a serious challenge when processing recurring payments. Declines can result from fraud, reissued cards, the..
Payment aggregation or payment facilitation allows one entity, or master merchant, to process or facilitate payments on behalf of sub merchants.
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.
Lifetime Customer Value
For companies that bill their customers on a monthly basis there is one metric that guides all of your marketing/sales efforts. Knowing Lifetime Customer Value [LCV] is like having a Secret Weapon in your battle for customer..
While IT, and SaaS specifically, are booming industries right now, it is easy to get dazzled by the possibilities and miss out on the important building blocks of an effective marketing strategy.
If you’re an SaaS marketer or service provider and you’re looking to create a viable inbound marketing budget, you’re in for a big surprise if you’re hoping to follow present-day conventional marketing methods.
New business partnerships are announced daily. LevelUp and Sprint, Apple and Wells Fargo, Verizon and Comcast, Ford and Microsoft to name just a few. But big names aren’t the only ones to benefit from strategic partnerships.
Payment Gateways play an integral role in facilitating ecommerce. Without the creation of a secure method for moving sensitive data the ability to conduct non face to face commerce could not have happened. Today there are many gateway providers..