Payment Facilitation, or PayFac for short, is rapidly becoming a standard operating procedure for shopping cart developers. Based on industry feedback, AddPaymentsNow has developed a payment facilitation placement program that takes the mystery out of becoming a PayFac and removes most of the risk as well.
According to Alex Roy, of AddPaymentsNow, their new “AddPaymentsNow For Shopping Cart Developers” program “allows cart and site builder developers to instantly set up their clients with the ability to accept credit cards directly through their cart, with low risk, and high profits.” In addition to there being no cost to the cart company, according to Alex, there is also “big profit potential as the developer makes money every time a merchant accepts a credit card payment through the shopping cart.”
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AddPaymentsNow has worked closely with shopping cart companies and CRM providers to make sure this new offer “checks all the boxes.” Low-risk, no liability for merchant chargebacks or refunds, easy integration, QA’d API’s, and robust reporting are some of the essential features of a good shopping cart payment system, according to the company.
Cart or CRM companies are interviewed to determine their exact needs, and then a PayFac solution is recommended based on their specific situation. AddPaymentsNow is solely compensated by the payment facilitator providers themselves. Consultations, placements, set up assistance and ongoing support is provided at no cost to the shopping cart developers.
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Simplified payment facilitation is a relatively new service in the software industry. The ability to quickly set up “sub-accounts” under a master reporting and payout system used to be an incredibly complex, and risk-prone undertaking. Before the advent of simplified, hybrid payment facilitation, shopping cart companies needed to take on all liabilities, customer service, and coding to facilitate payments. With the announcement of AddPaymentsNow For Shopping Cart Developers, shopping cart developers can allow their merchants to set up quickly and accept payments instantly without significant risks or upfront costs. Its custom format also enables shopping cart companies the option to take on additional responsibilities over time to increase their profitability.
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“In order to stay profitable, payment facilitation is an essential service that all shopping cart developers should utilize,” according to Alex Roy. “Software companies that do not offer the ability for their clients to easily set up a way to accept credit cards natively through their shopping cart are losing a huge portion of their potential revenue.”
More and more, according to the company, shopping cart and site builder developers realize that the real profitability in their model is from payments. AddPaymentsNow For Shopping Cart Developers caters specifically to that need. AddPaymentsNow For Shopping Cart Developers allows software companies to profit from payments without significant risk or coding time while providing merchant payments and reporting, all in one place.
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