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.
IVR Transactions occur when customers call into an IVR Payment Solution.
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.
An IVR Gateway provides automated phone based payment acceptance solution for organizations.
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.
IVR Billing - 24/7/365 Automated Customer Payment Center
IVR Phone Payments- 24/7/365 Automated Customer Payment Center
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.
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.
Payment Facilitator versus Payment Processor : What’s the Difference
Payment Facilitators [Payfacs] are Master Merchants that process credit and debit card transactions for their sub-merchants within their payment application.
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.
Text payment solutions offer businesses a fantastic tool for automating payment and especially late payment collection.
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.
A Payment Facilitator can be thought of as a Master Merchant that facilitates and processes credit and debit card transactions for their platform users.
Managed Payment Facilitation : What is it and is it right for your SaaS
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.
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.
SMS Payment Provider | Pay by Text Provider 2019
Looking to leverage or provide MarketPlace Payments? What you must know
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.
The decision to become a Payment Aggregator or Payment Facilitator (Payfac) has massive implications for a SaaS application provider.
For more than 18 years, Agile Payments has been providing integrated payments solutions to businesses who develop and provide software applications to their vertical industries.
