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The payfac express lane is open


The payfac express lane is open

Everywhere you look in payments, there’s this crazy need for speed. You see it in the Fed’s Faster Payments Task Force, in real-time analytics on customer dashboards and instant funds transfers. The race is on to make B2B commerce simple, seamless and fast. Independent software vendors (ISVs) are rising to the challenge, innovating with everything they’ve got.

We get it: As an ISV, you want your B2B solution to outperform the competition and deliver lasting customer value. As a payment facilitator (payfac), we understand some of the challenges you’re facing:

Problem: Selling value over price is not always easy with price-sensitive customers like yours.

Solution: Show them your easy breezy checkout process. Payfacs can directly embed payment processing into your B2B software to improve the user experience, add value and help customers leverage your platform.

Problem: Build the case for why they need you. Your customers can run their business like a boss while your software does the grunt work in the background. But how do you build a case for your solution in ways they will understand?

Solution: Show them how payments just happen. We know that payment processing is a small iota of what you offer, but payfac-powered payments can help your prospects attract and retain customers. People love their rideshare and order ahead apps; you can deliver the same kind of seamless experience with a payfac partner by your side.

Problem: They want it yesterday. Let’s not forget how impatient customers can be, how they want it all yesterday. Take customer onboarding, for example. In an age of instant sign-ups, your customers need to add customers in the blink of an eye.

Solution: Offer instant boarding and real-time payments. If you’re relying on a traditional processor for customer boarding, authorization and settlement, be prepared for long wait times and underwriting processes that make applicants feel anonymous and undervalued.

“Boarding with a payments processor is like a road trip to nowhere: the gas costs too much and will eventually rot your engine,” said Wain Swapp, CEO at VyaPay, a payfac and PCI Level 1 certified gateway. “Boarding with a payfac is like taking a walk to the mailbox to pick up your latest Amazon order.”

Payfacs have your back

Anyone can floor it on the merchant expressway, but without the right training and experience, it’s all too easy to crash. Winning the software race takes more than agility; it takes knowledge and skill. By working together, ISVs and payfacs can outmaneuver the competition while giving your customers and their customers a smooth, enjoyable ride.

Think how complicated it would be, if you didn’t have a payfac partner to automate chargebacks, offload risk and keep you PCI compliant. Without a payfac, these burdens would impact your customers as well. Payfac partners reduce onboarding complexities and costs and expand your possibilities. Payfacs help you attract different types of clients and provide electronic processing to businesses previously limited to checks and cash.

VyaPay combines convenience, security and data-driven decisioning with a better payfac solution. VyaPay’s technology suite includes VyaShield, a chargeback automation system that helps merchants recover more revenue by reducing and eliminating chargebacks. Graphical reporting tools and real-time analysis save VyaPay partners time and money.

VyaPay processes a range of in-store and Card Not Present electronic payments, including major card brands, ACH, eChecks, 3D Secure, 3DSv2 and cross-border payment schemes. The company partners with merchant acquirers, ERPs, CRMs, ISVs and VARs to help merchants of all sizes and industries transform the B2B experience. For more details, visit www.vyapay.com or contact us directly at 833-4-VYAPAY.

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VyaShield’s Chargeback automation helps merchants recover more revenue by reducing or eliminating chargebacks.

 

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