In today’s business environment, the simple linear relationship between bank, business, and customer has long vanished. Complexity has shifted payments horizontally (global commerce, new B2B2C relationships) and vertically (new payment types, new payment channels).
The relationship between a business and a payment processor has hugely shifted. It is no longer a matter of evaluating a product but rather engaging a platform. It is no longer finding a vendor but rather establishing a partner.
And the best payment partner must have the visionary’s keen sense of the past, knowledge of the present, and conception of the future, all bundled up into painless, secure, profitable, and easily integrated platform.
This type of platform is Transaction Processing as a Service. TPaaS.
TPaaS is not only a platform for a business to accept payments directly from their clients (B2C, B2B) but it also empowers a business to empower their clients to accept payments (B2B2C).
A TPaaS platform is ideal for any platform that, for example, processes tickets for marathon races, collects tuition for schools, accepts donations, etc..
There is nothing cookie-cutter, off-the-shelf, one-size-fits-all about it. TPaaS provides a wide array of APIs to cover every aspect of payment acceptance from the straight-forward to the multi-dimensional.
The value of TPaaS begins with simple real time merchant account boarding that presents clear and concise pricing. This is the direction the industry has shifted with micro merchants: businesses with low volume and small transaction amounts. TPaaS brings the necessary sophistication to this process for larger businesses and for SaaS platforms.
For the business who has clients who need to accept payments, TPaaS provides the ability to white-label their ability to offer real time merchant account boarding, as well as add platform or value add fees to their merchant fees, providing a business the opportunity of lifetime commissions on merchant fees.
With the ever-expanding need to accept payments in increasing new ways, allowing a business or a SaaS provider to offer payment services adds value and revenue to a process that is otherwise slippery, costly, and complex.
Imagine the following. Your business needs to provide your customer the ability to accept payments. Baked into your integration with a TPaaS platform is the ability to make that quick and simple, wholly branded with your company brand, with the option of participating in the payment revenue—those dollars that were previous an added cost for doing business.
There are a number of new players on the leading edge of payment technology, as well as veteran processors such as Vantiv and PaysTand who attempt address portions of this need. But their implementations are harder to accomplish and their solutions are less than ideal.
TPaaS is an end-to-end platform. Stop watching your potential customers slip away because of the unnecessary segmentation of older, less forward-thinking platforms. TPaaS can do it all.