{"id":4564,"date":"2019-05-01T21:24:48","date_gmt":"2019-05-01T21:24:48","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4564"},"modified":"2022-02-24T22:18:13","modified_gmt":"2022-02-24T22:18:13","slug":"imagine-the-best-experience-pf-veterans-offer-their-advice-to-companies-considering-the-model","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/imagine-the-best-experience-pf-veterans-offer-their-advice-to-companies-considering-the-model\/","title":{"rendered":"\u201cImagine the Best Experience\u201d: PF Veterans Offer Their Advice to Companies Considering the Model"},"content":{"rendered":"\n<p><strong>While the payment\nfacilitator way of doing business is still a relatively new entrant in the\npayments industry, the model has been around long enough to have generated some\nseasoned veterans. <\/strong><\/p>\n\n\n\n<p><strong>Some of those\nveterans offered their advice during a discussion at PF WORLD 2019 moderated by\nMary Buckley, head of financial partnerships for Xero. Kasturi Mudulodu, vice\npresident of Product Management for Yapstone and Nina Velleyan, president of\nStewardship Technology, gave attendees a look into their companies\u2019 evolutions\nas payment facilitators. <\/strong><\/p>\n\n\n\n<p>The speakers agreed that, while becoming a payment\nfacilitator has its advantages in many cases, those benefits don\u2019t always\noutweigh the risk and the operational needs for every company. <\/p>\n\n\n\n<p>Mudulodu recommended that companies initially set aside any considerations\nabout the payments model.<\/p>\n\n\n\n<p>First, \u201cgiven your SaaS offering, <em>dream<\/em>. Imagine the right experience \u2013 the best experience \u2013 that\nyou can have\u201d for your customers, she said.<\/p>\n\n\n\n<p>\u201cOnce you have that, then understand what it means to enable payments,\u201d she said.<\/p>\n\n\n\n<figure><iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/HlZexLs7QMU\" allowfullscreen=\"\"><\/iframe><\/figure>\n\n\n\n<p>Both speakers addressed revenue as a reason to become a PF. Velleyan\nsaid that for Stewardship, another benefit \u2013 control of the customer\nrelationship \u2013 ranked very highly, especially when it came time to sell\nthe company last year.<\/p>\n\n\n\n<p>\u201cWhen you think about the value of your company, if you\u2019re a\nsoftware company, owning the merchant is really, really important,\u201d she said.<\/p>\n\n\n\n<p>Setting up relationships with other providers is a central\npart of the PF journey. Both companies said that they are processor-agnostic,\nmeaning that they have chosen to make their platforms capable of working with multiple\nprocessors. For Yapstone, geography has played a significant role in that\ndecision. <\/p>\n\n\n\n<p>\u201cIf we are servicing merchants in tens of countries, and\nhopefully hundreds over the next few years, there\u2019s not a single processor that\ncan serve us well across all geographies,\u201d Mudulodu said. <\/p>\n\n\n\n<p>Both speakers recommended developing a deep understanding of\nyour clients and focusing on your software before considering becoming a PF,\nperhaps entering into referral partnerships to understand what accepting\npayments requires \u2013 especially when it comes to taking responsibility for the\nrisk that is involved. <\/p>\n\n\n\n<p>\u201cAs you get more and more sophisticated and you get bigger,\nyou\u2019re going to want to own the customer. But you also are going to have to\nhave payments capability and expertise in your company,\u201d Mudulodu said.<\/p>\n\n\n\n<p>But particularly for companies in very low-risk verticals,\ntaking on the payments may make sense earlier. Stewardship, for example, offers\nsoftware to nonprofits and faith-based organizations, a category Velleyan said\nsees very little fraud. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>While the payment facilitator way of doing business is still a relatively new entrant in the payments industry, the model has been around long enough to have generated some seasoned veterans. <\/p>\n<p>Some of those veterans offered their advice during a discussion at PF WORLD 2019. <\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[646,649,771,819,844,935,996],"class_list":["post-4564","post","type-post","status-publish","format-standard","hentry","category-archive","tag-payment-facilitators","tag-payment-processor","tag-saas","tag-software","tag-stewardship-technology","tag-valuation","tag-yapstone"],"acf":[],"_links":{"self":[{"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4564"}],"version-history":[{"count":2,"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4564\/revisions"}],"predecessor-version":[{"id":8321,"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4564\/revisions\/8321"}],"wp:attachment":[{"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}