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Shortly after the former Sage Payment Solutions rebranded as Paya early this year, company president Greg Cohen said the merchant processor would play a “value game,” not a low-price game. Following that strategy, Paya on Wednesday unveiled Paya Connect, a platform for software firms and independent sales organizations to create payment and other commerce applications for merchants.
The platform features application programming interfaces, code libraries, and other resources. The intended users are independent software vendors, value-added resellers, ISOs, and enterprise resource planning (ERP) software developers serving small and mid-sized businesses, health-care providers, schools, non-profits, and other merchants.
“With Paya Connect, we’re providing a platform with expanding capabilities that makes it easier than ever for our partners to create customized payments experiences that meet solution-specific requirements,” Cohen said in a news release. “Developers don’t need to be experts in payments, boarding or invoicing—we’ve taken all of the complexity out of adding commerce capabilities to software. As a result, our partners can deliver solutions faster and enable their own customers to accept a wide range of payments, without the need for complicated software or connections at the point of sale. These benefits make Paya Connect unique in the payments industry today.”
The platform comprises four products—Paya Connect Acceptance, Paya Connect Transact, Paya Connect Boarding, and Paya Connect Simplicity. Paya’s 2,000-plus ISV, VAR, ERP, and ISO partners can use one or all of them, depending on the requirements of their own customers. Paya says it serves 100,000 merchants generating $27 billion in annualized payment volume.
In addition to credit and debit card payments, the platform handles mobile payments, automated clearing house and electronic benefits transfer transactions, flexible spending account payments, recurring payments, and other transaction types. It also can add payments capabilities to a range of Internet-connected point-of-sale devices with no extra software or connections required. Paya says the core integration keeps software and business-management applications up to date as regulations and protocols change.
