Paya has just introduced a new solution for your small business clients that takes payments in multiple locations on multiple devices.
The company touts its new Paya Connect for both its connectivity and easy integration with the tools your clients or your business already uses, but more importantly, the security of the payments it processes.
Small Business Trends contacted Greg Cohen President of Paya, to learn more about this product that’s already used by over 100,000 businesses to process a total of $27 billion every year. He wrote in an email about how the new product includes an innovative security twist.
Secure and Automated
“Our technology also allows for secure and automated connectivity between other software and our platform. For example, if a customer wants to put a credit card on file for recurring payments, you’re actually calling a set of APIs that invokes a token – not sensitive information like a full card holder number or a full ACH routing number – but a token that represents that information.”
Paya Connect securely stores these tokens. It even automatically updates expired debit and credit cards. Important features for the small business owner that shies away from administrative tasks but worries about security.
Effective for a Wide Variety of Different Businesses
The product works with a wide variety of different businesses as well as non-profits, schools and healthcare providers. It handles debit and credit cards, electronic funds, automated clearinghouse, and even flexible spending transactions.
Cohen underlined the B2B angle and the firm’s desire to fill a need there.
“At Paya, we’ve focused on providing a platform and technology for partners providing full software and commerce solutions for other businesses,” he wrote. “There are many solutions for consumer-facing businesses, but we found a strong, unmet need among companies and developers who are creating robust payments technology and commerce enablement for their own business customers.”
He also pointed out they do well with ERP (business automation) solutions, and manufacturing, distribution and wholesale software developers.
Includes Some Big Advantages
One of the other big advantages for small businesses are the reoccurring payment capabilities. This product has the flexibility to skip or defer payments to make that part of your business cycle seamless. It offers a global data enrichment capability for some kinds of B2B transactions too.
It is also compliant with some of the more standard requirements like HIPAA, PCIe, and PCI. These protect sensitive information in different industries like healthcare and credit card transactions.
There’s at least one other feature Cohen doesn’t want overlooked.
“On top of that services layer, Paya offers the ability to provide instantaneous boarding and reporting solutions directly from the services stack and services API,” he writes.
Learn more Paya Connect by visiting www.paya.com/payaconnect .
Paya, Inc. provides business payment solutions. They have 100,000 customers with headquarters in Reston, VA.
This article, “Paya Introduces Small Business Friendly Payment Platform” was first published on Small Business Trends