Aliaswire Blog

BYO:UI – How FinTech API’s are driving the next generation of user experience

Posted by Aliaswire on Feb 12, 2018 2:39:15 PM

 

"Bring Your Own"...Anything!

Bring Your Own Bottle, or BYOB as we know it, started as a means to provide an additional incentive for customers to enjoy their beverage of choice at their favorite restaurant without overpaying or being subjected to limited or no selections. While the population of restaurants and dining establishments that offer BYOB has changed drastically over the years, what hasn’t changed is the fundamental reason for BYOB:  offering a better, and more consistent customer experience.

You may be asking yourself: “What’s this have to do with payments?”.  Good question.  Over the years, organizations have strived to place the customer at the center of their operations – with mixed results. To achieve this customer-centric goal, many businesses have gone to great expense to deliver an effective online and mobile app experience. But when it comes to payments, customers are often redirected to another website or app that does not maintain the consistency and branding of the original website or mobile app.  This can be very confusing and disruptive for customers and ruin a otherwise positive user experience.  While large enterprises have the budget and bandwidth to build the payments flow into their sites and apps, this capability has been out of reach for many other businesses.

But now that is changing. 

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Topics: aliaswire, payments, fintech, BYOUI, IoT

Reduce your Card Processing fees by 60 – 100 bps with DirectBiller®

Posted by Aliaswire on Feb 6, 2018 11:27:26 AM

Credit card transactions can fit into one of three different categories: Level 1, Level 2 or Level 3 processing and the Level classification can have a significant impact on Interchange fees imposed by the card brands. Typical retail and ecommerce transactions qualify at Level 1 rates, however certain types of merchants that accept specific types of payment cards (commercial, business, government and purchase cards) can see reduced interchange fees by submitting additional Level 2 and Level 3 data. 

Each level of processing requires a certain amount of data and requirements needed for verification and authorization. Therefore, Level 3 commercial card acceptance for businesses and government purchasing cards alike are priced differently from consumer credit card transactions due to level of detail passed in a purchase transaction.  

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Topics: aliaswire, payments, fintech

Is “Interchange Minus” The New Price Point for Merchant Services?

Posted by Aliaswire on Jan 29, 2018 2:34:38 PM

Pricing for merchant services has become extremely competitive in the last few years.  Merchant pricing awareness has shifted the market pricing away from complex multi-tiered pricing to simpler “Cost Plus”, “Pass Through” or “Interchange Plus” pricing.  Now, Interchange Plus pricing, has become competitive as well with some merchants in competitive markets paying Interchange + 0bps, creating significant margin compression for ISO’s and Acquirers. 

With Interchange Plus being very competitive, how can ISOs and Acquirers sell at “Interchange Minus” and still maintain profitability?  Answer:  PayVus® from Aliaswire. 

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Topics: aliaswire, payments, fintech

4 key things that Consumer Finance companies need to know when selecting a payment processing technology partner

Posted by Aliaswire on Jan 23, 2018 9:44:43 AM

Consumer Finance Companies can Make Payments Easier by Accepting Debit Cards

When it comes to paying bills, consumer behavior is rapidly evolving.  Innovative Consumer Finance companies and Lenders are adapting their payment systems to accommodate consumer preferences.  These companies are finding that being flexible, and adaptive in their payment acceptance approach is reducing late payments and improving customer satisfaction.

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Accepting Debit Cards for Debt Repayment

Posted by Aliaswire on Nov 29, 2017 2:48:55 PM

Historically, consumers have only been able to make debit card payments on their consumer finance loans as a last resort. In many cases, the option of making debit card payments was simply unavailable, and debt payments could only be completed through checks and ACH transfers. Consumer finance servicers are usually hesitant to include debit cards as a legitimate payment option because of the processing fees associated with debit card transactions.

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For Consumer Finance Companies, Changing Demographics Means Changing Payment Methods

Posted by Aliaswire on Nov 28, 2017 11:11:37 AM

While consumer finance companies have made great strides in shifting to paperless billing, the primary driving factor was the cost savings achieved from increased operational efficiencies and a more streamlined process to speed up the time to revenue equation. As a result of driving consumers online to pay and schedule payments, electronic bill payment and presentment (EBPP) is becoming a consumer touchpoint to cross-sell, up-sell and for general marketing and communications.   

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Reduce Card Processing Fees with Level 2 and Level 3 Enhanced Data

Posted by Aliaswire on Nov 14, 2017 11:54:14 AM

Credit card transactions can fit into one of three different categories: Level 1, Level 2 or Level 3 processing and the Level classification can have a significant impact on Interchange fees imposed by the card brands. Typical retail and ecommerce transactions qualify at Level 1 rates. However, certain types of merchants that accept specific types of payment cards (commercial, business, government and purchase cards) can see reduced interchange fees by submitting additional Level 2 and Level 3 data. 

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Should You Stay with Your Current Digital Payment Partner?

Posted by Aliaswire on Apr 24, 2017 11:02:36 AM

Joining with an electronic bill payment and presentment (EBPP) or digital payment partner is essential to doing business in today’s competitive environment. Channel sellers need the most innovative digital payment solutions on the market if they intend to compete. Most banks, systems of record (SORs), and integrated software vendors (ISVs) have already selected an EBPP partner. The question is whether that original choice is still the most suitable for meeting their client’s needs now and in the future.

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What to Look for in an EBPP Partnership

Posted by Aliaswire on Apr 24, 2017 10:51:28 AM

Most banks, technology companies, and other types of channel partners already have an electronic bill presentment and payment (EBPP) partnership. But many channel partners will realize upon examination that they could be served better by switching to a new partner. If you’re considering the switch to a provider that gives you access to the most innovative payment services on the market and the ability to white-label those solutions for reselling, you may be curious about what your new partnership should entail. Here is what to look for in an EBPP partnership.

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Why SORs and ISVs should Join a Scalable Electronic Billing and Payments Solution Partner

Posted by Aliaswire on Apr 24, 2017 10:33:39 AM

According to a 2016 article on PYMNTS.com, an online magazine that covers the payments industry, Integrated Software Vendors will need a scalable digital payments partner in order to succeed today’s disrupted markets. The article states that Integrated Software Vendors have historically “put together their solutions to help those businesses from an efficiency standpoint while leaving the payment piece to acquirers. Now, with all of the disruptors and security mandates in the space, they’re looking for partners to help them navigate those disruptions.”

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About Aliaswire

Aliaswire is leading the payment processing industry in the development and operation of highly convenient, reliable, and secure systems for transacting payments. Aliaswire's highly scalable payment processing platform processes payment transactions originated by consumers or businesses.

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