Agile Payments Blog

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.

Topics: payfac
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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].

Topics: payfac
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4 min read

3 Ways to Become an ACH PayFac

By Wayne Akey on Mar 19, 2019 12:14:48 PM

 

 

Topics: payfac
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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.

Topics: payfac
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4 min read

Payment Facilitation and Property Management SaaS applications

By Wayne Akey on Mar 19, 2019 12:13:30 PM

 

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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.

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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.

Topics: payfac
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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

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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.

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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.

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2 min read

Where are the ACH API Providers?

By Gene Krause on Mar 18, 2019 2:40:00 PM

ACH API Providers are organizations that provide an API for the purpose of integrating a software application to originate and manage ACH transactions. 

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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.”

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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.

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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.

Topics: payfac
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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.

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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.

Topics: payfac
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2 min read

Payfac Companies

By Wayne Akey on Mar 18, 2019 10:06:00 AM

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.

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2 min read

Can an ACH API benefit your organization? 2019 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.

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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.

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2 min read

What are your eCheck API requirements for 2019?

By Gene Krause on Feb 25, 2019 2:45:00 PM

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?

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2 min read

ACH Payment API Requirement Considerations for 2019

By Gene Krause on Feb 25, 2019 2:44:00 PM

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.

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2 min read

So You Need an ACH Transfer API - 2019

By Gene Krause on Feb 25, 2019 2:43:00 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.

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2 min read

ACH API Provider 2019, what is needed?

By Gene Krause on Feb 25, 2019 2:42:00 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.

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2 min read

ACH Processing API 2019

By Gene Krause on Feb 25, 2019 2:41:00 PM

An ACH Processing API transforms a software application into becoming an eCheck payment processing and management platform. Whether for the purpose of managing and distributing payroll, or collecting funds for customer subscriptions, integrating for ACH payments can be a powerful addition to an SaaS.

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2 min read

Considering an ACH Payments API in 2019

By Gene Krause on Feb 25, 2019 2:39:00 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.

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