We debuted the second iteration of our industry-leading payments platform, PayHQ, a little more than a year ago. And now, we’ve enhanced our payments technology even further for our financial intuition (FI) partners.
Introducing our white label payments platform
Exclusive to our FI partners, we’ve built a fully white label version of PayHQ.
PayHQ is our cloud-based system that allows merchants to easily accept payments seven different ways, track transactions, and access payment analytics and reports.
- Members can seamlessly accept payments via Recurring Billing, Invoicing, and Web Terminal through the platform.
- Every transaction processed through the platform is encrypted, access is always tokenized, and credit card information is safely stored in the Customer Vault for easy billing.
- Reporting tools give members both a holistic view of payments data as well as clarity into each payment channel, empowering members to run a smarter business.
Now, with the white label option, financial institutions, like banks and credit unions, that partner with Payfirma can merge their brand power with Payfirma’s trusted technology to offer a cohesive set of financial services for their business members.
The gap in the market
Financial institutions were offering a segregated set of services, often from competing financial intuitions. Payfirma saw this gap in the market and filled it with a solution that financial institutions could white label and brand as their own.
In order to respond to changing business and customer expectations, financial intuitions found themselves competing to provide the most seamless, value-added, and cost effective solution to their customers. But although FIs have capital, reputation, regulatory experience, and customer loyalty, they don’t have the ability to rapidly innovate and are bogged down with legacy infrastructure and regulations. So in order to keep pace with the changing demands, FIs partner with fintech companies to bring new and innovative products and services to market rapidly.
In terms of payments technology, a roadblock for many FIs is that the payments technology used by their customers is often the product of another bank or financial services company. This means that every time their customer processes payments, they interact with a different institution, resulting in a disconnected brand experience and potentially lost business.
Payfirma’s white label solution solves this problem by providing innovative payments technology in a platform that can be rebranded by the financial intuition to create a single, seamless experience for merchants. FIs can upload their logos, colors, and themes to fully white label Payfirma’s industry-leading payments platform, enabling financial institutions to offer an additional financial service to business clients with a more trusted and cohesive experience, while customers get frictionless payment processing from a brand they trust.
The white label payments platform is available to our financial instruction partners. To learn more about our partner program, visit our FI partners page.