PayFAQ: The Embedded Payments Podcast

Fraud in the payments industry is evolving rapidly, and AI is playing a significant role in shaping its future. In a recent episode of PayFAQ: The Embedded Payments podcast, host Ian Hillis sat down with Gary Pontecorvo, Senior Director for Financial Fraud Investigations, Operations and Intelligence at Worldpay, and Brian Rust, Deputy Chief Information Security Officer at Worldpay. Their conversation provided a deep dive into how fraudsters are using AI to refine their tactics and what businesses, particularly software platforms engaged in payments, can do to protect themselves. 

Ian Hillis and Yael Barak, former Vice President of Product Management at Worldpay delve into the topic of surcharging—an increasingly important issue for small and medium-sized businesses (SMBs) dealing with rising payment acceptance costs on PayFAQ: The Embedded Payments podcast. Disclaimer: Surcharging is a highly regulated industry just like card processing. Worldpay is constantly communicating with and monitoring new requirements in this industry. To understand more about what applies to your business and how to stay compliant, please speak directly with your partner manager.

Expanding a platform beyond a single solution is a challenge many software companies face. In this episode of PayFAQ: The Embedded Payments podcast, Ian Hillis speaks with Andrew Bouley, VP of Growth at Caterease, about how his company navigated this obstacle while embedding payments into their core platform. Andrew shares the strategies they leveraged to launch themselves into hypergrowth.  

Tokenization has been around for over two decades, but its role in payments is more critical than ever. As software companies look to integrate payments, understanding tokenization is essential for security, compliance, and long-term strategy.  In this episode of PayFAQ: The Embedded Payments podcast, Montana Ross, Head of Product for Integrated Payments and Payment Facilitation at Worldpay, shared insights into why tokenization matters and how software companies should approach it. 

For software platforms handling payments, achieving PCI compliance is a critical step toward ensuring security and building trust with customers. Navigating the complexities of a PCI, including an attestation of compliance (or AoC) can feel overwhelming to say the least.   In this episode of PayFAQ: The Embedded Payments podcast, Ian Hillis sat down with Adam “Sully” Perella, Technical Director at Schellman, a leading provider of IT attestation and compliance services, to break down the essentials of PCI compliance and how platforms can prepare for an AoC.

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. 

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.  

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. 

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. 

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. Candice offers valuable insights into why PCI compliance is critical and how software companies can navigate this complex landscape. Learn more about PCI in Episode 26 | All about PCI.

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. With over 15 years of experience in B2B and B2C marketing, Brittany brought a wealth of knowledge to the conversation, highlighting the significance of customer-centric strategies and the unique opportunities and challenges of promoting Embedded Payment solutions today. 

Renn Salo of Inktavo shares her experience and insights on Embedded Payments and lending, including working capital programs on the PayFAQ podcast. 

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.

Leah Asdell joins the podcast to answer the question, “what do merchants want from their software providers?” and discuss the Merchant Insider report.

Adam Tesan, Chief Revenue Officer at Worldpay for Platforms, joins PayFAQ: The Embedded Payments podcast to explore the intersection of software growth and Embedded Payments.

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.

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.In our continued conversation with Andy Meadows, the Head of Partner Success Managment at Payrix, about how to build an Embedded Payments strategy, we explore the significance of value added services. Andy shares his experience and sheds light on why these services are essential for software companies to consider and how they contribute to the overall payment landscape.valuThis episode is Part 3 of a multi-episode series on how to build a successful Embedded Payments strategy. Did you miss Part 1 and Part 2? Head on over to the podcast library, to listen to Ian Hillis and Andy explore Embedded Payments resourcing considerations in Part 1 and payments attachment and merchant activation in Part 2.

Embedded Payments have become a popular initiative among vertical specific software companies looking to deliver a more seamless customer experience, introduce new revenue into the business, and stay competitive in today's digital world.Purchasing a solution is the easy part. Things can get prickly for software companies when it comes to building and executing a tactical plan of action for embedding payments. But where to begin? We knew just the person to talk to — Andy Meadows, Head of Partner Success at Payrix.With over two decades of payments experience, Andy has worked in several sales, strategy, and partnership management roles. Ian Hillis welcomed Andy back to the PayFAQ: Embedded Payments podcast to tap into his expertise and talk through how to create the ideal Embedded Payments experience.Putting together a winning strategy is tricky, but not impossible. What is difficult is covering everything that goes into an Embedded Payments strategy in one podcast episode. This episode is a part of a multi-episode series with Andy. We kicked this topic off in Episode 33 with Part 1 of how to build a successful Embedded Payments strategy. Ian and Andy chatted about the resourcing commitment software companies need to consider when starting to embed payments. If you missed Part 1, you can listen to it here.  

We've seen it far too often. Software companies embark on their embedded payments journey only to discover they've underestimated the complexity that's involved and struggle to launch. If you're thinking about Embedded Payments for your platform, make time to listen to this episode of the PayFAQ Embedded Payments podcast. Our new host Ian Hillis is kicking off a multi-part series, exploring all the important details you should be thinking about before you get to far down the road. To start the series, Ian and his guest Andy Meadows, Head of Partner Success Management for Payrix, dive into the topic of resourcing and what you need to consider when it comes to selling payments, boarding and underwriting, service and support, and development and tech. Andy explains that selling payments are what trip software companies right out of the gate. “Any conversation with an end user, i.e., a business or a merchant, is going to involve pricing. If you've never had those conversations around merchant-level payment pricing, the interchange dues, and assessments, you're to going to run into roadblocks on day one.” The solution is to hire a payments expert to train your sales team, sitting side by side over a few weeks to create a single selling motion for software and payments that your end users will have confidence in. The next hurdle is often underwriting because of the lack of expertise with operational considerations, especially the additional documentation and information that needs to be procured from perspective merchants. According to Andy, you won't need a full-time resource from the get-go if you're taking a crawl, walk, run approach. He suggests creating a combination role for a payment guru who covers the operational piece along with service and support. “In the context of the first two components of the conveyor belt, that's kind of how I think of it.” He says most software companies struggle with the back-end service and support piece as well. They haven't trained staff on the frequently asked questions, inquiries, and issues they're going to encounter, which tend to be around pricing, rates, fees or reporting, reconciliation, and feature functionality specific to embedded payments. “It's as much about serving your end user as it is making sure your team is armed with the information they need to be excited about it and to maintain that enthusiasm for the new solution moving forward.”Ian and Andy wrap up their conversation at the beginning: Embedding payments into your software. Andy warns, “If you don't have someone on staff from a development or product management perspective, who's danced the dance with payments and been in the payment industry before, you're really kind of running through a forest with a blindfold on, and you're gonna hit a lot of trees along the way.” Have a listen to the full conversation, and clear the way to embedded payments success! 

What can software companies expect in 2024 when it comes to embedded payments? This episode of the PayFAQ Embedded Payments podcast, featuring our host Bob Butler and special guest Ian Hillis, senior vice president of growth at Worldpay for Platforms, offers some surprising insights as well as news about the future of our podcast itself!The conversation starts with what Hillis describes as a “bit of a hot take.” As the software used by SMBs has become more and more vertical, he says what's been most transformative in the industry of embedded payments in recent years is not the technology. “Software companies are now increasingly seeking payments partners that are more consultative in nature, ones that can really understand unique user flows and ensure the financial experiences that are being created match the desired user experience. They're no longer satisfied with the partner that simply enables payments or financial tools.”Like the evolving role of payments partners, Hillis give us his take on what will have a transformative effect on embedded payments going forward. Compliance and risk are two big areas, with PCI compliance 4.0 launching in February and the increasing popularity of surcharging. He predicts card networks will become more involved with surcharging and expects to see regulation on how when AI and ML can be used in risk and underwriting flows.Hillis is also excited about the prospects of conversational commerce (formerly known as text to pay) and how it often intersects with payment functionality; omni capabilities and offerings for managing both in person and online experiences; and embedded finance products, like lending and commercial cards, where data sitting in existing payment integrations can be leveraged to make a seamless experience.To make since of it all, Hillis' advice is simple. “Have conversations with humans. Payments is incredibly complex. As software continues to increase in specialization and verticalization, the benefits of picking up a phone and talking to people who can empathize with the unique needs of your customers is going to be a really worthwhile opportunity.”Be sure to listen to the end for news about Bob and this podcast series. Here's a hint – You'll be hearing more from Hillis on a regular basis.

Are you curious about the world of PayFac® developers? You've come to the right place. With the acquisition of Payrix, Worldpay for Platforms is now the one-stop payments shop for software companies wherever they are on their payments journey.In this episode of the PayFAQ Embedded Payments podcast, host Bob Butler talks with Jennifer Pinnick, Senior Operations Manager at FIS, to continue an exploration into the exciting world of PayFac. (This isthe second part of a two-part discussion. Click here if you missed the first part, featuring Richard Drake, also from FIS.)The opportunity for growth, new products and enhancements, and finding the different things that each PayFac developer needs is what's most exciting for Pinnick. “We're always looking for new and innovative ways to help our PayFac developers move their needle forward.” One way is to assign support resources to each PayFac developer who knows how you process and use the systems at Worldpay.According to Pinnick, there are many other reasons to choose Worldpay for Platforms, including scalability, reliability, and their focus on payments – the heart of what they do. “Our platforms can support some of the largest both direct and PayFac developers out there. We've helped build some small companies into robust and what some would say unicorns today.”When a new PayFac developer comes to Worldpay, Pinnick said they first look at how they can help the developer do their operational jobs best. “Once our sales and implementation teams have gotten you over the hurdle, we make sure your set up for success, whether that's IQ training, education, and really owning that experience and relationship.” The goal is help you deliver a white-glove experience to your clients.“If you're new and you're not sure where payments really fits into your embedded ecosystem, you can start with our integrated payments model. If you're a little more savvy and secure, I always recommend Payrix as our PayFac-as-a-Service. And then, of course, I also would love to work with you as a PayFac developer and continue to help you grow and develop your business,” Pinnick says. “We can help you grow your business and stay profitable in this ever-evolving marketplace.”Have a listen and reach out today to find the right solution for you!

The world of payment facilitation is an exciting place for software companies who want to become PayFac® developers. In this first part of a two-part conversation on the PayFAQ Embedded Payments podcast, Richard Drake, Senior Strategic Partner Manager at FIS, along with host Bob Butler, provide a look inside “PayFac land” and how Worldpay for Platforms has become the one-stop shop for software companies wherever they are on their payments journey.“We've been offering the payment facilitator model since 2010, but we never had the ability between referral and full-blown payment facilitator. And we now have that with the Payrix acquisition,” he says. The in-between model is a key entry point into payment facilitation for software companies, because it offers attractive benefits and infrastructure support without a lot of the risk.Drake explains that while everybody wants to be a full-blown PayFac to own the payments relationship and experience, you have to be ready to do it. “First of all, you've got to have a decent payments volume. If you don't have enough volume to generate the revenue to offset the costs of being a payment facilitator, then it doesn't make a lot of sense.”He also says you need an experienced payments risk manager to onboard submerchants as well as a support infrastructure to answer questions about chargebacks, settlements, and billing. “When you're a payment facilitator, while we're on the back end, while we're the engine, submerchants really have no idea who we are, because the payment facilitator is providing the infrastructure, the support, and has the relationship with the submerchant.”It sounds like a big responsibility because it is. According to Drake, the reality is payments is hard, and being a PayFac is payments on steroids. Having someone who knows all the pitfalls and can help guide you toward better decisions is invaluable to your success. “We were a pioneer in building out this product and have the best and the most superior support team in the industry. You get all that knowledge at your beck and call, ready to go.”So, take a listen and breathe a shy of relief. Then watch for part two of the conversation coming soon!

Jack Tsigankov, Payrix Information Security Director, really knows how to put things in perspective when it comes to data and information security.As our guest on this episode of the PayFAQ Embedded Payments podcast, he tells host Bob Butler that cyber threats and attacks are constantly happening across merchants and the financial industry. In 2022 alone, there were around 1,800 publicly reported data breaches, a 40% increase from 2021 and at an all-time high average cost of over $4,000,000.“Data and information security are not just important, but absolutely critical for our partners in the payments industry,” he says. Staying vigilant and proactive and safeguarding sensitive information is imperative for all software companies with Embedded Payments.The leading cause of data breaches often include human error, according to Tsigankov. To prevent them, it's crucial to implement a multi-layered security approach, involving employee training and awareness programs, robust access controls, regularly software updates, strong encryption methods for databases and using applications, and continuous monitoring for suspicious activities.He also recommends that security audits and penetration testing should be part of a software company's robust information security policy as well as the top 10 security controls. In addition, he suggests using tools like Big Fix or Auto Mocks that help companies automatically push updates to end users' machines.With a company's credibility, trust, and success on the line, the significance of information security cannot be overstated. “Follow the best industry practices. Pick one framework, like PCI DSS or NIST, and implement their best practices in your ecosystem. By sticking to those practices, you shouldn't have any data breaches or vulnerabilities in the future.”Don't miss this informative conversation to learn more about what you can do to protect your payments data and what Payrix does to help protect you.

It's easy to feel like a kid in a candy store when considering Embedded Payments for your software business. Before you know it, the enticing numbers, models, and spreadsheets can have you taking on more than you can chew.  The smart move is to take your time and be very thoughtful about your payments roadmap, according Greg Hatcher, Head of Payments at iClassPro and this week's guest on the PayFAQ Embedded Payments podcast.  Listen in as he tells our host Bob Butler about iClassPro's journey to becoming a PayFac®, from what drove their decision and the considerations that went into building their roadmap to how they got leadership on board and what set them up for success.   iClassPro is a class management software platform for gymnastics, cheer, and swim schools. Like many other platforms, the decision to “own more of the value chain” was based on improving their customer experience as well as the ability to grow its business with a new revenue stream.  “If you're a software platform, looking at building up payments, you've got to start by considering the pillars of what that even means and what it means to process payments. So, you have to think about onboarding, the act of processing and transacting, funding, reporting and risk management, and you really need to dig into each of those and identify what you want to own, and how deep that ownership will go, as well as what your partner will continue to own.” So, before you get out in front of your skis, spend a few minutes listening to this week's podcast to learn what it takes to nail the basics.    Want to learn more about iClassPro's transformation? Click here 

For expert advice on understanding risk and compliance through a PayFac-as-a-Service (PFaaS) model, you can't go wrong with Billi Jo Wright, Chief Risk and Compliance Officer at Payrix and our special guest on this episode of the PayFAQ Embedded Payments podcast with host Bob Butler.Billi Jo is a returning guest to the podcast, this time offering valuable insights on important risk and security questions to ask when thinking about PayFac-as-a-Service, and best practices for protecting cardholder information.She says choosing a PFaaS partner that gives you the flexibility to create the customer experience you want is imperative, because much of the value of Embedded Payments is in how it enhances the experience with your software. It's also critical that your payments partner is willing to learn what your software does and who your customers are. Only then can they really understand and support your growth through Embedded Payments.You and your PFaaS partner should also be on the same page when it comes to risk and security considerations. You should ask providers if they require you to own liability for merchant loss. Billi Jo explains there are advantages either way, but it's something you should discuss. You should also know if the provider expects you to pre-vet or underwrite your customers before enabling payments and if they provide tools to help protect your customers from data breaches.On the flip side, she emphasizes the importance of software companies ensuring their platforms are secure and offers up best practices, like multifactor authentication (MFA), focusing on user access management, and working with a good QSA (Qualified Security Assessor.)Listen now for all the best ways to do risk and compliance right.

PCI compliance is universal. Whether you're doing business in Australia, where we find ourselves in this episode, or anywhere else in the world, protecting your data, your customers' data, and their customers' data is essential for making Embedded Payments a success.Despite the importance of the Payment Card Industry Data Security Standard (PCI DSS), it's often a confusing topic for many businesses. So our host Bob Butler recently sat down with our expert down under, Zac Lutton, Head of Fraud and Risk for Payrix Australia, to help dispel some of the misconceptions and answer some common questions.According to Zac, the key to PCI compliance is understanding your obligation in the payment chain to create a safe environment for data. Protecting payments is a joint effort between a payment provider and a software company. “Any payment provider can only protect data and information once it is passed on to them, and you, as the software partner, need to have provisions in your environment to protect yourself on the journey in passing that information.”That's why he urges companies who want to add payments to their software offering, to educate themselves about PCI requirements and hire experts internally or work with trusted partners. “What PCI does is give you best practices on how to protect yourself and help identify areas of weaknesses. PCI gives you the ability to create internal policies that help you through the importance of taking payments and identifying best-practice mechanisms to safeguard your whole entire environment.”He says PCI is not an insurance policy, but it has to be a priority for companies to build a strong security foundation and ensure safe and secure payment processing. “Don't think you are exempt from fraudsters wanting your data or you won't be a target. Everyone is a target today.”With that in mind, the safe thing to do is have a listen.

No software company wants to experience a security breach. But they can happen in today's digital world. That's why managing risk goes hand-in-hand with having Embedded Payments as part of your software platform In this episode of PayFAQ: The Embedded Payments Podcast, Jessica Kirkpatrick, Senior Director of Risk, Fraud, and Underwriting at Payrix shares how software companies can detect security comprises early, contain breaches if they occur, and help prevent them from happening in the first place. Jessica draws from 18 years of experience in the payments industry, including 17 years in risk operations at PayPal. She tells our host Bob Butler that many companies don't find out about security breaches until they hear from customers when the damage is done, such as they're no longer receiving funds or seeing unrecognized activity on their software account. The impact can be costly for the merchant and the software company. At that point, she emphasizes how important it is for companies to contain the breach and prevent further compromise and damage. Implementing measures like changing passwords, multifactor authentication, and conducting a thorough investigation are crucial steps to take immediately.The biggest mistake is doing nothing or believing you've fully mitigated the attack. According to Jessica, if a fraudster detects vulnerability, they'll come back and try again. She explains the very first thing to do to prevent future attacks is managing access to your software. Then, focus should be on training employees and merchants, developing a robust cyber-security policy, and other measures that together help prevent future breaches.Have a listen and stay safe!

When it comes to the success of embedding payments into any platform, implementation is key! And here to talk to us about this is Payrix Director of Implementation, Rachel Henin.   Why is implementation such a driver for success? Because not every company will be a plug and play solution. Each software company will have their own specific tech stack, and each is coming to the table with a different experience in mind for not only themselves, but their end user as well. And according to Rachel, this is one of the things that really makes Payrix so unique in the marketplace as it relates to other embedded software companies. If PayFac-as-a-service is the right model for a software company, Payrix explores what's right for each software company and crafts a plan based on their needs and goals.   When it comes to choosing an implementation plan, some of the most important factors revolve around much more than just the solution. How does the company operate? What kind of staff do they have? What's their payments knowledge? What does their tech stack look like? And how much risk are they prepared to take on? These are just some of the questions that Rachel and her team will ask about first and foremost – before they even discuss the implementation plan.   As for options, software companies will be offered either an API integration or a portal integration (both of which have very different parameters), or a hybrid option that exists as well. The goal for all, however, is the same: to get these companies up and running fast so they can realize the benefits of monetizing payments. 

Embedded Payments have come a long way since the mid 2000s, but we're still in the early innings. More exciting is what's ahead and the fantastic opportunities that await software companies who focus on driving profitability as well as customer satisfaction. Those who do have the potential to become a category leader, according to Matt Downs, Worldpay for Platforms President.   Matt recently sat down with Bob Butler, host of Payrix's PayFAQ Embedded Payments podcast, to dig into the evolution of Embedded Payments and what the future holds. Matt's an all-star on the subject. He just celebrated his 23rd anniversary in the payments and software space and is one of the core founders of the integrated payments model as well as a key player in authoring the PayFac® model.  From the days when integrated payments simply meant a payment application between a software company and a payment processor, Matt's been at the forefront and thinks the time is right for software companies to look at embedding payments so they can be well positioned when capital frees up after the down cycle we're in now.   Key to that decision is finding the right partner that will go to bat for you in the long term. “Who you choose to do business with, and how you do it, is a big part of whether or not someone will be successful.”   Tune in now to learn more from Matt and how software companies can hit it out of the park with Embedded Payments.  

When it comes to relationships, even payments can be complicated. That's why it's crucial that SaaS providers carefully consider which embedded payments relationship is right for them.   To help break it down, we enlisted the expertise of Worldpay's Head of Partner Success, David Barker and Worldpay for Platforms Vice President of Business Development, Brad Pinneke.  On this episode of PayFAQ: The Embedded Payments Podcast with host Bob Butler, Dave and Brad discussed the three dominant models that can facilitate and grow the SaaS embedded payments relationship: the referral model, the managed PayFac® model, and the registered  PayFac® model. What makes each of these models unique? We dive into the specific prerequisites and protocols of each. 

Without a doubt, embedded payments are an attractive proposition for SaaS companies looking to monetize and scale quickly. However, long-term success hinges largely on how you go about it. There's more than one way to integrate payments into your platform, and choosing the right one depends on where you are on your payments journey. 

It's no secret that software led payments are taking our digital ecosystem by storm. It's a buzzword that's in just about every conversation regarding payments, payfacs and how to optimize the fintech space. But what about embedded finance as a SaaS offering? Worldpay Vice President of Merchant Strategy, Samuel Callen is back on PayFAQ: The Embedded Payments Podcast to follow up on our last episode — and joining him and Host, Bob Butler, is Worldpay Senior Director of Merchant Strategy and Platform GTM, Eric Lerch. 

It's no secret that software-led payments are taking our digital ecosystem by storm. It's a buzzword that's in just about every conversation regarding payments, payfacs, and how to optimize the fintech space. In this episode, Worldpay Vice President of Merchant Strategy, Samuel Cullen joins Bob Butler, Host of PayFAQ: The Embedded Payments Podcast to talk all about what's creating all that buzz. 

How does Infinite Campus leverage the Payrix solution? David Van Meter, Chief Product Officer of Infinite Campus joined Host, Bob Butler to discuss the key advantages of Payrix. In this episode of PayFAQ: The Embedded Payments Podcast, Bob and David discuss speed of boarding, customer experience, flexibility and ability to whitelabel.

In this episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler speaks with Zac Lutton, Head of Risk for Payrix in Australia about protecting your payment data and what to be mindful of if you are wanting to process payments in the Australian market. 

In this episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler speaks with Zac Lutton, Head of Risk for Payrix in Australia about protecting your payment data and what to be mindful of if you are wanting to process payments in the Australian market. 

Where is the embedded payments space heading in the next few years? Eric Frazier, CEO of Payrix, has some predictions. Host, Bob Butler, spoke to Eric about his payments background, the value Payrix provided SaaS companies and the future of embedded payments and global payment facilitation. 

Complimentary fintech product offerings, like lending, is a continuation of the evolution and growth of embedded financial services and an opportunity for additional revenue and value-added solutions to elevate your platform.Host, Bob Butler discusses this and more with Lendflow Founder and CEO, Jon Fry on this episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix.

How would you like to be the driving force behind giving your customers the one thing they can never get enough of? In this episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Ryan Oakes, VP of Payments of FieldRoutes, about how payments integration has benefited the company and their customers.

In the thirteenth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Tony Braden, Head of Product and Enterprise Solutions for Payrix in Australia about software payments in Australia. The three key points Tony mentions when going global are a single point of integration, local presence so that there is someone in-country that knows the nuances of payments and finally they should be looking for their payment's provider to be a true partner.   

In this the twelfth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews John De Stefan (JD), the Managing Director for Payrix in Australia about the booming Australian payfac and integrated payments marketplace.    

In the eleventh episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Scott Wayman, Founder and CEO of Kangarootime about using payfac technology to focus on what matters most in childcare management.  

In this the ninth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Jorge Lozano, VP of Underwriting and Lloyd Fernandez, VP of Product at Payrix, about all of the decisions a software company must make when embedding or integrating payments.

In this the eighth episode of the PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Ed Mastrangelo, VP of Business Development at Payrix, about leveraging payments to fuel your growth and transformation with a focus on payment economics.

In this the seventh episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Misty Novich, the VP of Payment Solutions at Neon One, about the importance of payments in the non-profit space. Misty has been in payments for over 20 years and has worked for both small and large merchants. Neon One is a software management company for non-profit organizations that offers several different resources including donor management, program management and operations. Neon One currently services 35,000 social good organizations in the United States.

In the sixth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, host Bob Butler interviews Jason Key, Head of Global Solutions at Payrix, about the payments journey that a software company typically undertakes when they've decided to integrate or embed payments.According to Jason, Payrix is the all in one solution for integrating payments by living inside the platform and allowing companies to minimize friction and improve stickiness to enhance the overall customer experience. He discusses how Payrix takes a consultative approach by diving into what the software company is already doing to get a clear understanding of their journey. Software providers will be talked through the different aspects of payments as a whole, specifically embedding payments and servicing merchants, before they are then paired with an integration team and a relationship manager to help with implementation and integration to ensure they're ready to board their first merchant. 

In the fifth episode of PayFAQ: The Embedded Payments Podcast brought to you by Payrix, our host Bob Butler interviews Chris Connor, the Chief Client Service Officer at Payrix, about what software providers need to know to ensure success when they're embedding payments.

In the fourth episode of PayFAQ: The Embedded Payments Podcast, brought to you by Payrix, host Bob Butler interviews Billi Jo Wright, the Chief Risk and Compliance Officer of Payrix. This conversation is the second part of a two-part series on understanding and managing the risk of moving money.Billi Jo Wright has been in payments for over 25 years. She first spent 10 years on the issuing side and moved over to the acquiring side of the business with stops at Worldpay, MerchantE and Elavon over the past 15 years.  In the market, there's this perception that B2B vertical payments aren't risky. Billi Jo argues that while it may be a little less risky, you still have to meet the risk and compliance expectations of your acquirer. You are responsible for the many facets of payments and must have a strong risk and compliance program in place. Billi Jo walks through the three business models for embedded payments (referral, payment facilitator, and payfac as a service) from a risk and compliance perspective, and wraps up the episode talking about the regulations you must abide by as a payments company. These regulations are constantly changing, adding complexity to maintaining a strong risk and compliance program.

In the third episode of PayFAQ: The Embedded Payments Podcast, brought to you Payrix, host Bob Butler interviews Billi Jo Wright, the Chief Risk and Compliance Officer of Payrix. This is part one of a two-part series on understanding and managing the risk of moving money.Billi Jo Wright has been in payments for over 25 years. She first spent 10 years on the issuing side and moved over to the acquiring side of the business with stops at Worldpay, MerchantE and Elavon over the past 15 years.  It is good business for software companies to monetize payments and own the customer experience, but there is a lot of risk associated, which can be very complex. According to Billi Jo, there are at least six categories of risk including underwriting, fraud risk, transactional risk, chargeback risk and then regulatory risk and compliance. As a payments company, you are responsible for every transaction and every merchant that you process payments for. Billi Jo goes on to provide a brief description of each kind of risk and states that the biggest risk is underwriting risk – where there are a lot of regulatory and compliance requirements to assess the overall financial viability of each and every merchant.

In the second episode of PayFAQ: The Embedded Payments Podcast, brought to you Payrix, host Bob Butler interviews Benny Silberstein, the co-founder and Chief Strategy Officer of Payrix. The discussion focuses on the ROI of embedded for software companies. Benny was introduced to payments about the time the first iPhone was launched – and early on, he questioned why technology in the payments industry seemed so outdated. He started out in the traditional ISO space, but after realizing it was a continuous “race to the bottom,” he transitioned to a embedded payments strategy for software businesses, which eventually led to becoming a payment facilitator and developing the payment infrastructure for Payrix today. On the revenue side of the equation, software companies traditionally recognized revenue from subscription or licensing fees for their software – and now, they are realizing the revenue opportunity from payments as well. For example, software companies built for running gyms and salons have the potential to make as much or more revenue from payments as they do their own license fees.  On the costs side of the equation, there are several factors, including fees associated with processing a payment (card brand interchange fees as an example). Software companies that are in a referral relationship with a payments company typically have very low up-front expenses and see minimal revenue. Software companies that operate as full payment facilitators (payfacs), on the other hand, typically generate the most revenue and have to absorb almost all of the costs. They typically hire consultants, have to build out a risk and compliance team and have the payments infrastructure in place to operate a payments company.  The final model discussed is the payfac as a service model. Here, the costs and risks are drastically reduced, with the revenue slightly less. It is the up-and-coming way for software companies to get to market fast while controlling the customer experience.Whether you're looking to monetize payments for the first time or want to see more revenue from payments, Payrix can provide you with the right solution. Get in touch with us today.

In the first episode of PayFAQ: The Embedded Payments Podcast, brought to you Payrix, host Bob Butler sits down with Eric Frazier, the Chief Executive Officer of Payrix. Eric's background includes a long history of starting and operating payments companies. Eric discusses in detail the three different business models in the vertical SaaS space – referral, payment facilitator (payfac) and payment facilitation as a service. 1. Referral ModelAccording to Eric, “with the referral model, payments integrated into the sales or go-to-market and the traditional merchant acquirer does all the heavy lifting and makes most of the money.”2. Payment FacilitatorEric describes the payment facilitator model this way, “if you're a SaaS company, you want to become a payments company. You want to monetize payments. Or if you have been monetizing payments to a small degree, you want to optimize payments. This became popular with the advent of Square.” The appeal of this model is that you can increase revenue and market valuation, but the reality is that you have to build a payments infrastructure. In addition, it needs to be managed and you must be best-in-class when it comes to regulatory risk and compliance management. 3. Payfac as a ServiceThe third business model is payfac as a service that combines the best of both worlds and is really the sweet spot for most vertical software companies. According to Eric, “Not to talk about Payrix because we're here today to educate, but the reason we have been having a lot of success in the marketplace is our out-of-the-box functionality, our portal, and all of our customer care tools that really allow our partners to control that customer experience.”For more guidance to find the right embedded payment solution for your business, get in touch with us