Pivotal Payments Announces New Mobile Payments Platforms
While we think quite a bit about the customer-facing side of mobile payments, there’s not so much thought given toward the processing end of things. That’s where a recent move from Pivotal Payments—which it recently sent word our way about—may change things, thanks to PayFac Connect, its new registered payment facilitator and aggregator platform.
PayFac Connect allows users access to a complete payment facilitation experience, making it easier to directly integrate both debit and credit cards into signup processes. This is great for anyone working subscription billing, and likely other fronts as well.
With the more direct integration in place, reports note, sub-merchant accounts are much easier to establish, and no longer required traditional merchant accounts be established or maintain to run operations. Plus, the normal risks that come with payment processes are also taken out, as PayFac Connect allows for immediate compliance with payment aggregation regulations.
Built around a set of application programming interfaces (APIs), the system’s onboarding and hosted enrollment processes make development a smoother, faster experience that gets products into users’ hands much faster than before. With the end product often providing a better experience as well, it’s a good way to shore up a sluggish system before users jump ship.
Pivotal’s vice president of product for GlobalOnePay, which handles payment technology for Pivotal, Tedd Huff noted “Many software as a service providers, app developers, online marketplaces and platforms do not have the personnel, knowledge or background to become payment facilitators, yet can benefit from offering payments as a revenue-generating, value-added service….. Choosing a payments-as-a-service platform such as PayFac Connect minimizes costs, time and risk while maximizing the opportunity to profit from a direct payment acceptance solution.”
There’s a lot of reason to incorporate something like PayFac Connect into operations, mainly because a society that’s increasingly into mobile payments will want to put these to use. Having a payment processor effectively in your pocket makes it that much easier to accept the platform that potential customers increasingly want. That drives business, and helps improve the chances of making a sale.
So businesses looking to turn to PayFac Connect should find a user-friendly system waiting that allows for a better chance of doing business with potential customers. That should mean a lot of new customers for Pivotal.