Episode 24 | What to expect when implementing payment facilitation software

PayFAQ: The Embedded Payments Podcast

When it comes to the success of embedding payments into any platform, implementation is key! And here to talk to us about this is Payrix Director of Implementation, Rachel Henin.

Why is implementation such a driver for success? Because not every company will be a plug and play solution. Each software company will have their own specific tech stack, and each is coming to the table with a different experience in mind for not only themselves, but their end user as well. And according to Rachel, this is one of the things that really makes Payrix so unique in the marketplace as it relates to other embedded software companies. If PayFac-as-a-service is the right model for a software company, Payrix explores what’s right for each software company and crafts a plan based on their needs and goals.

When it comes to choosing an implementation plan, some of the most important factors revolve around much more than just the solution. How does the company operate? What kind of staff do they have? What’s their payments knowledge? What does their tech stack look like? And how much risk are they prepared to take on? These are just some of the questions that Rachel and her team will ask about first and foremost – before they even discuss the implementation plan.

As for options, software companies will be offered either an API integration or a portal integration (both of which have very different parameters), or a hybrid option that exists as well. The goal for all, however, is the same: to get these companies up and running fast so they can realize the benefits of monetizing payments.