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Before we dive into the risks associated with payments, let’s review why embedding payments is good for SaaS businesses and the three payment processing solutions available to software companies today. What are the benefits of adding payments to vertical software? In between referral partnership and PayFac is PayFac-as-a-Service.
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. Review of capacity and capabilities As you roll out the new payments piece of your business, we want to ensure you have the resources in place to support it.
Payment system An operational network governed by laws, rules, and standards that links bank accounts and provides the functionality for monetary exchange using bank deposits. Standard industrial classification (SIC) A system for classifying industries by a four-digit code; historically used by the IRS and the banking industry.
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