Caleb Avery, CEO and Founder Payment facilitation has paved the way for companies to monetize payments and deliver an enhanced experience to their customers. With the help of a payment facilitator (PayFac), companies can streamline time-consuming processes, obtain instant approvals, set up merchant accounts, and start processing payments within minutes. However, most PayFacs today are limited in their ability to simultaneously provide both efficiency and revenue. These providers may offer either cutting-edge technology with little to no economic benefits or legacy technology with an exciting revenue component.
Tilled is changing this status quo with its PayFac-as-a-Service platform. Tilled enables software companies to increase margins, improve valuation, and generate an additional, recurring revenue stream that is favorable to investors and acquirers.
“The Tilled PayFac-as-a-Service platform provides clients with all the benefits of becoming a fully registered PayFac, without incurring any upfront costs and going through the laborious regulatory process,” says Caleb Avery, CEO and Founder at Tilled.
While most service providers focus on card-not-present transactions, Tilled takes payment facilitation a step further. By giving clients the ability to add a physical terminal to process card-present transactions, Tilled empowers them to monetize all transactions through their platform. The company also supports Apple Pay, automated clearing house transactions for U.S. clients, and electronic fund transfers for its Canadian customers.
Tilled handles all the regulatory and compliance aspects of the payments program, including underwriting, fraud monitoring, managing customer settlements and chargebacks, and providing merchant support.
Along with best-in-class implementation and onboarding support, Tilled also leverages dedicated resources in order to help clients get up and running on the platform in a matter of weeks.
The company offers a range of solutions to help clients scale on the platform, such as its partner marketing program. Through this program, Tilled works with customers to design in-app messages, email campaigns, landing pages, train their sales teams, and provide sales support.
Tilled’s payments platform is built on an OpenAPI spec and loaded with innovative features and functionalities. It is developer friendly and comes with a guide to get started, sample code projects, and helpful tools that developers can use to easily and quickly implement the services for their clients.
Tilled’s turnkey white label solution combines quality API documentation and white label tools to help customers get to market faster. Users can upload their logo, select primary and secondary colors, and even design a custom subdomain for their business with Tilled. By leveraging this customizable solution, software companies can put their branding front and center on the payments page and strengthen their brand recognition. In addition, Tilled’s powerful reconciliation tools allow users to match the transactions on the platform to the deposits in their bank accounts.
The Tilled PayFac-as-a-Service platform provides clients with all the benefits of becoming a fully registered PayFac, without incurring any upfront costs and going through the laborious regulatory process
With the majority of its customers being SaaS businesses, Tilled also offers subscription capabilities that allow both clients and their downstream customers to process all their subscription payments.
The benefits of Tilled’s frictionless digital onboarding process were highlighted when a dental software provider leveraged the company’s service to increase the adoption rates for their integrated payments system. The antiquated onboarding experience delivered by the client’s previous provider allowed them to sign up only a small portion of their clients. Using Tilled’s onboarding process, the client was able to dramatically improve customer penetration rates and generate more revenue.
Looking forward, Tilled aims to expand internationally by entering the European market and will continue to power the financial backend of the next generation of marketplaces, SaaS companies, and integrated software vendors.
