Agile Payments Blog

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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1 min read

The Search for an API for ACH Payments 2019

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

Organizations who serve a customer base that is of a recurring of subscription nature will at one time or another seek out an API for ACH Payments. It is these types of applications that benefit greatly from ACH transactions.

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2 min read

Recurring ACH API 2019

By Agile Payments on Feb 25, 2019 2:28:13 PM

Recurring ACH API For SAAS Platforms

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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.

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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.

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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.

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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.

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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.

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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. 

Topics: IVR Payments
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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.

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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:

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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

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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.

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