Improve Rev Share with a PayFac Partner
As an independent software vendor, it’s easy to be impressed by the many new customers signing up for your subscription services each month. But how much of that revenue do you get to keep, and how much is going to your payment processor? For example, your provider may give you 70 percent of net revenue after fees and assessments, and that might add up to a pretty good payment stream. But wouldn’t you like to get paid faster and get an even bigger piece of the pie? A solid payment facilitator (payfac) partner can do all of that and more.
In the payments industry, it’s common practice for credit card processors to take 60 to 90 days to pay employee commissions and as much as 90 to 120 days to pay partner residual income. That’s a long time to wait for hard-earned residuals, commissions and bonuses from weekly, daily, and hourly payment streams. And considering all the offers you get on a daily basis from companies claiming they’ll help increase your bottom line, how many of those potential partners will string you out for months at a time while you wait for what’s rightfully yours?
Month-to-month payment processing
Wouldn’t it be great if you could get paid on schedule, in the same way that you receive your monthly processing statements? At VyaPay, we think that’s a no-brainer and that’s why our partners get December earnings in January, just as a traditional merchant level salesperson or channel partner would be paid by an ISO, payment gateway or processor.
In addition, VyaPay partners get true rev share, not some watered down version after all kinds of miscellaneous processing and compliance fees that no one understands, or even worse, a big goose egg when they don’t live up to the revenue or volume requirements stipulated in their processing agreements. Sadly, most ISVs don’t read the fine print in their agreements and are not aware of these benchmarks until it’s too late.
VyaPay, a leading registered payfac and PCI-compliant payment gateway, believes partnerships should be earned, which is why we don’t believe in locking down our partners with cumbersome revenue targets and mandatory terms and conditions. We would rather prove our worth than scare you with revenue benchmarks and termination fees. A true month-to-month partnership means you are here by choice, and will receive our full support and collaboration for as long as we’re partners, which we hope will be forever.
It goes without saying – the best part of ISV and processor relationships is how payments are seamlessly embedded into your tech stack. The integrations are so smooth that customers hardly notice them as they sign up for your service offerings. But we’ve also heard some horror stories from partners who were sold a bill of goods before they came to us. Lots of service providers claim to have easy integrations but when you get into it, the amount of effort, coding and repetitive QA testing can be a heartache.
Equipment integrations are a common frustration for ISVs, especially when they are forced to work with proprietary platforms. In today’s world of faster and real-time payments, the last thing you want is to get stuck in the type of walled garden that was popular in the 90’s, when equipment manufacturers tried to lock everyone into their hardware and software platforms. And payment providers went along with it because proprietary systems that were locked down were more difficult for their competitors to reprogram.
The idea that you keep a partner or customer by tying them down, locking them in, and forcing them to meet minimum requirements may have worked in 1990 but it’s out of place in today’s open source, interoperable environment. As a software service provider, you want to steer clear of anything like this and choose a partner that will give you tools and resources to grow and the freedom to control your destiny.
You are our why
Most of all, VyaPay wants you to thrive because our partners are our everything. We exist to serve you, with a range of offerings that we tailor for your company, employees, partners and customers.
This is not a limited offer and you’ll never hear us say, “hurry down.” What you can expect from us is integrity, transparency, professionalism and a culture of innovation designed to help you grow and scale.
Call, email, or engage with us on LinkedIn, Twitter and Facebook. We look forward to chatting.