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The world of Embedded Payments saw remarkable developments in 2024, shaping strategies and innovations across the industry. In a compelling discussion on PayFAQ: The Embedded Payments podcast, Ian Hillis hosted payments veterans Ella Aguirre and Michael Veatch to reflect on the past year. The conversation unpacked notable trends, challenges, and opportunities for software companies navigating this dynamic landscape. 4 key takeaways from Embedded Payments in 2024 Takeaway #1: Maturity in Embedded
In the latest episode of PayFAQ: The Embedded Payments Podcast, Ian Hillis speaks with Brad Pinneke , VP of Business Development at Payrix and Worldpay for Platforms, about one of the most important decisions software companies face today: choosing the right payments partner. With over 25 years of experience in the payments industry, Brad shares valuable insights into how vertical software platforms can benefit from Embedded Payments and what to consider when selecting a payments provider.
Embedded Finance is reshaping SaaS, and for good – and exciting – reasons. At Payrix from Worldpay, we see the potential in empowering software platforms to deliver valuable financial products seamlessly within their user experience. Meet some of our experts driving this shift for our software partners and see how Embedded Finance can enhance your platform’s revenue, customer loyalty, and growth potential.
In this episode of PayFAQ: The Embedded Payments Podcast, host Ian Hillis welcomes Matt Downs, President of Worldpay for Platforms, to discuss software-led payments predictions for 2025 and beyond. With decades of experience in payments, Matt provided invaluable insights on emerging trends, regulatory changes, and the future of Embedded Finance. Navigating market dynamics in 2025 and beyond Matt emphasized the cyclical nature of the payments industry, likening it to a pendulum.
What is white label merchant processing? White label merchant processing enables third parties like integrated software vendors (ISVs) or independent sales organizations (ISOs) to customize and sell the payment processing technology and services of a payments provider under their own brands. For a software company, integrating white label merchant processing can be a growth strategy that adds value to their platform and provides their subscribers with a more complete user experience that’s consi
Interested in learning more about software-led payments or joining the current Embedded Payments conversations in your organization? Do you find yourself listening to industry leaders and colleagues use terms like PayFac, PCI DSS, and tokenization and casually scratching your head in confusion? Youve come to the right place. This blog post is your ultimate guide to understanding the most used payments terms today.
Ian Hillis welcomes David Blair, Senior Director of Product Management at Worldpay for Platforms, on PayFAQ: The Embedded Payments podcast to explore the critical roles of merchant underwriting and onboarding for software providers. With over a decade of experience driving product innovation, David offers easy to understand definitions and valuable insights into how platforms can build trust, reduce risk, and deliver frictionless merchant boarding experiences that enrich the entire payments ecos
What is a master merchant? A master merchant, often referred to as a payment facilitator or merchant aggregator, is a third-party agent that acts as the link between acquirers and online merchants. The master merchant holds the master contract with an acquirer and can offer subcontracts to online merchants and content providers, allowing them to offer credit card and other payments through their online stores and experiences.
Ensuring secure, seamless payment processing is more essential – and complex – than ever today. At Payrix from Worldpay, we have an internal team of risk management experts dedicated to helping software companies, like yours, manage payment processing, fraud prevention, and compliance. Each expert has a unique perspective on balancing payments security and user experience, empowering software platforms to grow confidently in their niche industry.
The Canadian card and payments market is valued at approximately $913.4 billion, according to GlobalData , with a projected Compound Annual Growth Rate (CAGR) of over 5% until 2028, showing the strength and stability of a thriving market with significant growth opportunities for those ready to strike. The Canadian eCommerce and online payments sectors continue to thrive as well, with expectations of reaching north of $140 billion in growth by 2025, a CAGR of 17% over the past 5 years.
What are contactless payments? A contactless payment is a transaction that occurs without the physical contact of a credit card to a payment terminal, device, or other point-of-sale system. When a contactless payment is initiated, customers are usually instructed to “tap-to-pay,” meaning they only need to hover their card near the contactless reader and the payment will be accepted.
What is a payment facilitator? A payment facilitator (or PayFac) is a software platforms all-in-one payment processing solution. Instead of your customers needing to create their own merchant account to process payments, you as the PayFac developer handle all the payments setup and complexity for them. Think of it as becoming the payments "master account" for all your customers.
As a software company committed to your customers, you want to do everything you can to set them up for success. For many of your customers, success begins and ends with a seamless checkout experience, and one of the biggest sources of friction is false declines. Here are a few industry statistics from PYMNTS Intelligence to demonstrate what we mean. 11% of digital transactions in the US are falsely declined. 70% of falsely declined transactions are difficult to recover. 60% of merchants (your s
In todays competitive software market, forward-thinking trade and field service platforms are no longer asking if they should modernize their payment infrastructure, theyre working diligently to source the right payments partner to implement innovative solutions before their competitors beat them to the punch. Embedding payments and financial experiences is the next frontier for trade and field service software platforms looking to boost revenue while enhancing the customer experience.
What are integrated payments? Integrated payments are payment processing capabilities that are incorporated into a software companys platform to provide their user base with the ability to accept and manage payments for their businesses. The setup connects payment processing with a point-of-sale (POS) system software that can sync with other business-critical systems and streamline processes.
What is a payment processor? A payment processor facilitates the flow of transactions typically made with credit cards, debit cards, and other digital payments. To operate as an integrated software vendor (ISV) or payment facilitator, a software company requires a relationship with an acquiring bank and a payment processor. The processor is responsible for processing and settling the transactions initiated by the payment facilitators merchants, but they can also offer so much more.
Since the dawn of the digital age, our lives have been transformed in every sense. For many, daily activities are now often accompanied by apps we cant live without. As the attachment to these apps grows, theres an expectation that theyll consistently deliver convenience and flexibility. That expectation has driven software companies to build and grow their platforms rooted in customer centricity.
What is an integrated software vendor? An integrated software vendor more commonly known as an ISV is a software company that engages in a partnership with a payments provider in order to integrate payment processing capabilities into their platform. Doing so enables their customers to accept and manage payments for their businesses, all from the same platform.
What is Know Your Customer? Know Your Customer (KYC) sometimes also known as Know Your Client is a set of standards and protocols used by financial institutions and other businesses to verify the identity of their customers before engaging in account setups or transactions. KYC is a risk management practice that was established in 1970 as part of the U.S.
What are card-not-present transactions? A card-not-present (CNP) transaction occurs when a credit cardholder and their credit card are not physically present when a payment is accepted. Most CNP transactions are tied to eCommerce, where the card and associated cardholder information is input into an online payment system. However, while much less common, transactions are also considered CNP when card information is accepted over the phone or via text or mail orders.
Software-led payments have grown in popularity, and for good reason. A payments solution built into the back end of the platform experience has proven to be a significant driver of better user engagement, growth potential, and competitive advantage for software companies interested in becoming a must-have business management solution for their user base.
Interested in learning more about software-led payments or joining the current Embedded Payments conversations in your organization? Do you find yourself listening to industry leaders and colleagues use terms like PayFac, PCI DSS, and tokenization and casually scratching your head in confusion? Youve come to the right place. This blog post is your ultimate guide to understanding the most used payments terms today.
What is an integrated software vendor? An integrated software vendor more commonly known as an ISV is a software company that engages in a partnership with a payments provider in order to integrate payment processing capabilities into their platform. Doing so enables their customers to accept and manage payments for their businesses, all from the same platform.
What is a payment processor? A payment processor facilitates the flow of transactions typically made with credit cards, debit cards, and other digital payments. To operate as an integrated software vendor (ISV) or payment facilitator, a software company requires a relationship with an acquiring bank and a payment processor. The processor is responsible for processing and settling the transactions initiated by the payment facilitators merchants, but they can also offer so much more.
What is a master merchant? A master merchant, often referred to as a payment facilitator or merchant aggregator, is a third-party agent that acts as the link between acquirers and online merchants. The master merchant holds the master contract with an acquirer and can offer subcontracts to online merchants and content providers, allowing them to offer credit card and other payments through their online stores and experiences.
What are integrated payments? Integrated payments are payment processing capabilities that are incorporated into a software companys platform to provide their user base with the ability to accept and manage payments for their businesses. The setup connects payment processing with a point-of-sale (POS) system software that can sync with other business-critical systems and streamline processes.
In the latest episode of PayFAQ: The Embedded Payments Podcast, host Ian Hillis sits down with Candice Raybourn, Head of Partner Activation at Payrix and Worldpay for Platforms, to discuss the crucial topic of PCI compliance. As businesses continue to embed payment solutions into their software platforms, ensuring compliance with PCI DSS (Payment Card Industry Data Security Standards) is more important than ever.
In 2023, the Embedded Finance market was valued at $73 billion and projected to grow to $523 billion by 2032, growing at a compound annual rate of 24%, according to a recent report. This growing market is switching up how small-to-medium-sized businesses (SMBs) access financial products, creating exciting new opportunities for software companies to reimagine their business models and restructure their product offerings.
In the fast-evolving world of software, Embedded Payments have emerged as a crucial element for software companies aiming to grow their business, enhance customer experiences, and streamline transactions for consumers. In this episode of PayFAQ: The Embedded Payments podcast, Brittany Clark, SVP and Head of Marketing at Payrix and Worldpay for Platforms shared her insights on how software companies can effectively market embedded payments with Ian Hillis.
Consumers reported losing close to $8.8 billion to fraud in 2022, an increase of over 30% from 2021, according to the latest Federal Trade Commission data. The top reported frauds included imposter scams, with losses of over $2.6 billion, and online shopping. For software companies embedding payments into their platform, being aware of payment fraud is critical for several reasons.
With the number of fraud claims reaching 2.4 million in 2022, according to the latest data released by the Federal Trade Commission , ensuring that your software platform has the proper payment fraud prevention and detection measures in place before launching payments to your users is essential to protecting your organization and customers. However, before you can have the proper strategies in place, you’ll need to understand what payment fraud detection and payment fraud prevention are and how
Back to customer stories Delivering a premium payments solution to premium printers Payrix takes Inktavo’s payments to new heights with high transaction limits, greater efficiencies, and seamless access to working capital. The challenge: After simultaneously managing multiple payment vendors over the years, Inktavo, a software solution provider for the printing, promotional product, and branded merchandise industries, knew they needed to migrate their customers to a single Embedded Payments prov
As a software company getting ready to or thinking about embedding payments into your platform, there is much to consider. One point of consideration is the merchant underwriting process and the onboarding experience you’re creating for your customers. What’s involved in merchant underwriting is not always clear to merchants from the beginning, further complicating the tedious process.
Why there’s greater value in a payments integration supported by white-glove service than a DIY, documentation-driven approach The decision to embed payments into your software platform as a key part of your growth strategy is a significant starting point from which you can create new value and revenue streams for your business. It’s a major milestone that can set you up for profitable opportunities ahead.
With their sights set on elevating the customer experience, deepening user engagement, and driving sustainable growth, there’s one thing software companies are making room for in their roadmap: Embedded Payments. Seamlessly weaving payment processing into software can amplify a platform’s offering and reinforce its value as a fully loaded operating system their users rely on daily.
In the latest episode of PayFAQ: The Embedded Payments podcast, Ian Hillis sits down with Renn Salo, Vice President of Payments at Inktavo, to delve into the exciting world of Embedded Finance, with a particular focus on the intersection of lending and software platforms. This engaging conversation provides valuable insights into the evolving landscape, with Ian and Renn tackling important questions, like: What are the benefits of implementing a PayFac-as-a-service model?
How to implement a software payment solution to elevate your business management platform The software industry has always had the reputation of advancing at breakneck speeds. Driven by the ever-present urgency to meet market demands, software providers have consistently been in a race to deliver a customer experience that rivals their competition. In recent years, many have discovered the value of Embedded Payments to elevate that experience.
Embedded Finance is more than just a buzzword; it represents a fundamental shift in how financial services are delivered and consumed today. Ian Hillis, Head of Growth at Worldpay for Platforms discusses this new term and what the opportunity may await software providers on our latest episode of PayFAQ: The Embedded Payments podcast. What is Embedded Finance?
What do merchants want from their software providers? This is a question that keeps many software companies up at night, and Leah Asdell, Head of Partner Marketing and Content Strategy at Worldpay for Platforms. Leah has over a decade of experience in the payments industry and has witnessed firsthand the evolution of Integrated and Embedded Payments.
When it comes to software, success doesn’t hinge on innovation alone. Instead, it’s about understanding how to harness efficient growth. No one knows this better (or more intimately) than a software company Chief Revenue Officer (CRO). Adam Tesan, CRO at Worldpay for Platforms, is a seasoned executive leader with decades of experience in sales, marketing, and revenue in the software space.
Andy Meadows, the Head of Partner Success at Payrix joins host Ian Hillis to continue their conversation about building a successful Embedded Payments strategy. As the last episode of a four-part series on the topic, Andy and Ian tackle how software companies can minimize attrition and why it’s important to the payments conversation. Did you miss Parts 1-3?
Congratulations! You’ve decided to offer Embedded Payments to your customers. Adding Embedded Payments gives you an exciting opportunity to grow your business and solve real pain points for your customers. And solving pain points for your business owner customers are important, with 80% of business owners stating that accepting multiple payment types is vital to their success and one in five businesses reporting that they would switch software providers to be able to accept all the payment types
User experience has become a cornerstone in shaping the world of SaaS. Your product is your bread and butter, and as a verticalized software company, you know just how important a tailored, industry-specific application is to your end user. Dedication to delivering an exceptional user experience ensures your software is something that your customers can’t live without in their business day-to-day.
A comprehensive Embedded Payments strategy isn’t complete without value added services. But, as a software platform, what value added services should you be considering? And when should you start thinking about these solutions and infusing them into your payment ecosystem and experience? On this episode of the PayFAQ: Embedded Payments podcast we delve into just that.
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