Payfactory

A great podcast interview with our CEO and founder of Bluefin Payment Systems, Ruston Miles, and John Siracusa on payment security, the role of encryption and tokenization to protect sensitive data, and where payments is heading. The #BankOnIt podcast features fintech founders & investors who are building the future of fintech.

A great piece by The Paypers on the rise of embedded payouts in the B2B and B2C SaaS market. Embedded payins - where funds are received by the SaaS platform - is commonplace today, embedded payouts, or the disbursement of funds to consumers or other businesses, has been rising thanks to use cases like gambling payouts, gig-worker compensation, benefits payouts, corporate travel, and supplier payments. The Paypers also notes SaaS platforms' growing shift toward payment facilitation - both as a partner service and becoming a payfac themselves - to further capitalize on payment monetization. https://lnkd.in/dG7Ru5af #embeddedpayments #embeddedfinance #payfac

B2B payments account for $120 trillion in payment volume, yet only 7% of transactions are conducted digitally. While paper checks and ACH have typically been the hallmark of B2B payments, the tide is shifting thanks to the rise of online commerce, the digitalization of payments, and Gen Z purchasing preferences. Check out our latest infographic on the Rise of B2B payments and how embedded payments in B2B software represent a completely untapped market for SaaS providers, gateways, and payment platforms. https://lnkd.in/enaEcR7D #embeddedpayments #B2B #B2Bpayments #digitalpayments

How important is customer service in payment processing? Very. And when it comes to embedded payments in software systems, merchants will associate the service provided by a payments partner with the service provided by the ISV. According to PwC, in the U.S., even when people love a company or product, 59% will walk away after several bad experiences, and 17% after just one bad experience. We overview the top 5 best practices in payment processing customer service, including: 1. Proactive communication 2. Personalized support 3. Availability 4. Training and resources 5. Feedback loops Payfactory’s commitment to exceptional customer service ensures that software providers and their merchants receive the support they need at every stage. We hold customer service at the core. #customerservice #paymentprocessing #customercare #payfac https://lnkd.in/dtBbwifR

Demand for embedded lending is spiking, as consumer look for more convenient and accessible borrowing options. Visa's new report, 2024: The Embedded Lending Outlook, surveyed over 8,000 consumers across six major economies - finding that only half are satisfied with their current borrowing options. The report also found that: ? 43% of those surveyed are very or extremely likely to switch to a provider that offers embedded lending options, but only 15% have used embedded lending in the last 90 days. ? Consumers who use credit strategically for budgeting or rewards are equally likely to tap embedded lending for essentials and discretionary purchases. Embedded lending represents a huge up-sell opportunity for banks and payment platforms as part of their embedded finance package, with a projected market total of over $23B by 2031. https://lnkd.in/euY29Tqq #embeddedlending #embeddedfinance #embeddedpayments

Why add embedded payment processing to your SaaS platform? Consumers demand one-touch, digital transactions - whether paying in-store or online. ISVs and SaaS providers have the potential to address $35 trillion of worldwide payment processing by embedding payments into their software. Satisfying customer needs for seamless payments and improving loyalty, while generating a new revenue stream. Payfactory's embedded payments platform speeds time to market for software companies, with a gateway-agnostic integration. Allowing ISVs and SaaS providers to go live with payment processing in weeks, not months, boarding merchants faster and generating revenue quicker. Contact us to learn more. #payfac #embeddedpayments #integratedpayments #paymentplatform #paymentprocessing

"Embedded payments" has become the buzzword of 2023 and 2024. But the reality is that embedded payments have been around for many years - with Uber being one of the earliest adopters. Where the process to pay for a ride was so seamlessly embedded into the app that consumers could never differentiate the process of ordering a car from the process of paying for the car. Banking Dive discusses how embedded payments are changing the way we pay - and how companies across industries are reaping the value of adding payment processing to their apps, software, and marketplaces. https://lnkd.in/dn8-HgX6 #embeddedpayments #integratedpayments #paymentplatform #payfac

Payment facilitation has rapidly gained popularity over traditional acquiring thanks to its streamlined approach to payment processing. But like every aspect of payments – merchants and SaaS providers also have a choice when it comes to the “type” of payfac solution they adopt. We take a look at the features and benefits that make payment facilitation a more streamlined choice for ISVs, while also reviewing the different payfac types: - Becoming a payfac - Payfac direct - Payfac as a service https://lnkd.in/ev6gkiig #payfac #embeddedpayments #integratedpayments #paymentprocessing

An amazing example of how far embedded, digital and contactless payments has come is the 2024 Paris Olympics. As PYMNTS reports, across 3,500 points of sale and 32 Olympic venues, Visa worked to implement a custom payment services solution that was designed to bring seamless, contactless payment acceptance to athletes in the Olympic Villages and consumers. The result? Greater convenience for millions of consumers, athletes and vendors thanks to: - Seamless payments without cards or cash - Ease of buying merchandise, food and drinks quickly - so everyone can focus on the games #digitalpayments #embeddedpayments #contactlesspayments #Olympics2024 https://lnkd.in/eZWCte79

With digital and embedded payments becoming the new normal, there has been a demand to speed up the entire payments "process." This can encompass: - The actual merchant application - The approval / denial decision of an account based on the application and documentation - The onboarding and "go-live" of the merchant / account activation The essence of payment facilitation is speed, simplicity and seamlessness, and today we take a look at the advantages of payfac over traditional payment processing when it comes to merchant application, approval and activation. https://lnkd.in/d6c4AXTR #payfac #paymentprocessing #merchants #embeddedpayments