Future-proof your payments strategy
It’s increasingly clear that bringing payments in-house by becoming a payment facilitator helps software companies increase profits, grow market share, and delight customers all at the same time. Yet many Independent Software Vendors (ISVs) and Value Added Resellers (VARs) don’t make the jump from payments referral partner to payment facilitator because the switching costs involved are too high. Today, we’re excited to announce a brand new merchant underwriting model called Finix Flex aimed at reducing those switching costs.
Flex is currently in beta, but software companies like Assembly Kitchen, PayTheory, and PushPress are already using it to future-proof their payments strategy. To bring this product to market, Finix has partnered with Fattmerchant, an award-winning merchant services provider whose automated underwriting, transaction monitoring, and chargeback management systems power Flex. Together, we’ve created a flexible integrated payments product that puts any ISV or VAR on the path to payment facilitation today.
Companies that want to own their payments eventually, but aren’t quite ready to make that shift today, often become referral partners to other payments providers. This makes sense in the short-term but can complicate the path to payment facilitation later. Software companies that start on Flex will enjoy a seamless transition to payment facilitation with no switching costs when they’re ready.
Since Flex clients will be learning, building, and scaling on the same platform they’ll eventually use as a payment facilitator, the technical challenges traditionally involved in this transition disappear. Finix will reconfigure the platform behind the scenes, providing a similar (but enhanced) payments experience while unlocking lower rates and more capabilities. Integrate once and never do another migration again.
Better yet, once you're approved as a payment facilitator by one of our acquiring sponsors, there are no merchant or token migrations to manage. With Flex, platforms, ISVs, and VARs can transition to payment facilitator with the flip of a switch.
Flex customers can expect a dead-simple set-up experience:
- A single contract
- To integrate in days, not weeks
- Minimal PCI scope using Finix’s gateway
- Interchange-plus pricing from Finix, which they can mark up
- Fast, automated merchant underwriting through a hosted form
Combining these elements, we have reduced the headache involved in processing payments for your merchants while radically decreasing the timeline to launch a new payments strategy from months to a matter of a few weeks.
Flex clients can start processing payments today while working in parallel to refine their payments operations to register as a payment facilitator. And Finix can grow with you every step of the way as your payments strategy evolves. Start earning revenue now, learn the Finix platform as you grow, and make the jump to become a payment facilitator when you’re ready, taking full ownership of your payments stack and merchant relationships–all using the same platform.
Future-focused software companies use FlexOur mission is to turn every software company into a payments company. If you’d like to start making money from payments today while removing the switching costs of becoming a payment facilitation later, get in touch to learn more about Finix Flex (beta) today!