For consumers, making a purchase is simple, but behind the scenes, payment processing depends on a complex system of operations between banks and merchants. There must be a methodical, traceable trail connecting transactions to card issuers, consumer bank accounts and businesses. In order to juggle the task of processing and recording billions of dollars’ worth of transactions, how can payment processors create a streamlined network that will assure smooth and efficient payment experiences?

In this episode of Forces in Fintech, we’ll learn more about the technology that manages all these moving parts to make transaction processes seamless. We speak with REPAY’s SVP of Clearing and Settlement, Michael Cottrell, to understand the communication that occurs during each step of the clearing and settlement process. He’ll also tell us about the modernization of the tech stack that is expanding data collection and risk management capabilities for payment transactions. 

We’ll also find out:

(1:26) – How did Michael begin his career in payment processing, and what led him to REPAY?

(2:21) – What is the REPAY Clearing and Settlement platform and what is its role in payment processing? 

(3:59) – What differentiates REPAY’s in-house Clearing and Settlement process from competitors?

(5:12) – Who are REPAY’s RCS clients and target audiences? 

(8:58) – How is this innovative process being received in the sales process?  

(10:24) – What are Michael's thoughts and opinions on Payfac (or payment facilitator) as a service, and those that offer the service? 

(12:41) – How does Michael see the future of the payments industry evolving? 

Constant innovation in the tech industry opens up countless opportunities to ease strain on businesses and their customers, but it can also leave consumers, providers, and legislators struggling to keep up with the field’s evolution. Regulation changes, escalating growth and acquisitions, and introducing additional compliance efforts are just a few factors testing the field’s agencies and their ability to maintain pace. How can the ARM vertical’s smaller operators begin to maneuver a landscape with so much complexity and change? 

In this episode of Forces in Fintech, we’ll analyze the state of the market to understand which tech strategies businesses can implement to stabilize and strengthen their position against current competition. We speak with REPAY’s Senior Vice President of Sales, Chad Probst, to learn how REPAY has streamlined innovative tech and built efficient teams to solve these common industry challenges. He’ll also teach us how an increase in compliance tactics can also increase profitability and efficiency. 

We’ll also find out:

(1:27) – How did Chad’s previous work lead him to his role at REPAY?

(1:49) – What is the current landscape of the accounts receivable management vertical, and how has it evolved over time?

(3:53) – Is churn potential the main driver of the market’s current acquisition trend?

(5:37) – What is the status of field competition? 

(8:13) – What approach should be taken when it comes to selling in the ARM space?  

(9:08) – How does seasonality or countercyclical timing in an economic cycle affect the business and their customers? 

(11:13) – What does the future of payments in the arm space look like? 

Whether we’re buying something online or in-store, the number of payment options we now have at our disposal is enormous. With credit cards and debit cards in both our physical and digital wallets, we no longer need to rely solely on cash or check, and we can even complete transactions with our smartphones or watches.

No matter the purchase, we now have a plethora of ways to pay. But why can’t we have the same choice when it comes to our mortgage payments too?

In this episode of Forces in Fintech, we explore this very question and take a look at the solutions available for borrowers to pay off their mortgages using newer and more convenient means. We speak with REPAY’s Mortgage Vertical Executive, Erik Skinner, to understand the innovations transforming the mortgage payment space. We’ll take a look at the industry to find out why evolution in this sector is so important, and we’ll explore why mortgage providers need to update and expand their payment options.

We’ll also find out:

(1:10) – What were the career experiences that led Erik to REPAY?

(3.01) – What are the unique characteristics and complexities in the mortgage payments space?

(5:24) – What’s the competitive landscape like in mortgage payments?

(7:30) – What makes REPAY's service offerings unique?

(9:10) – Why are REPAY’s partnerships with Black Knight and Visa game changers?

(11:50) – What is the growth opportunity like in this space?

(13:06) – What is REPAY’s GTM strategy in this vertical?

Manual processes create room for error. For consumers, traditional methods of payment processing can be hard to organize and keep track of. As more industries go paperless, automated digital payment methods create an opportunity to streamline both payments and communication, offering convenience and simplicity for all parties involved. 

In this episode of Forces in Fintech, we’ll learn about the digital revolution happening in the credit union and bank space. We’ll discover what tools and technologies are assisting consumers with their payments, how they enhance the user experience, and how this tech is accelerating transactions. Joining us on the episode today is Aaron Dils, Senior Vice President of Sales at REPAY, to discuss how REPAY is creating product enhancements, partnerships, and integrations, providing clients with quick, and scalable solutions for their payment needs. Plus, we’ll hear why Aaron thinks there has never been a better time for credit unions and banks to go digital. 

We’ll also find out:

(1:09) – What was Aaron’s journey to his work at REPAY?
(2:01) – What makes the credit union industry ripe for digital transformation? 
(4:11) – When adopting modernized payment processing like REPAY, what are the credit unions and banks looking to achieve for their members and customers?
(7:04) – What is competition like in the Fintech payment processing market?
(9:24) – How has REPAY partnered with and integrated into these platforms? What is instant funding in the context of personal financing?
(9:41) – How is REPAY’s relationship in an existing integration different from a future integration?
(13:07) – How do you see the future of payments related to credit unions and banks evolving? 

Buying a car is one of the largest purchases a consumer will make in their lifetime. And while
it can be an exciting process, it can also be stressful. Because, traditionally, financing a new
automobile has never been a quick and easy process – requiring long applications and
complicated repayment methods. And these processes aren’t just a source of friction for the
customer, it prevents dealerships from moving stock quickly, and it takes up valuable time
and human resources for the lenders who approve and provide the loans.

But our consumer and auto financing payment solutions are getting an upgrade.

In this episode of Forces in Fintech, we’ll find out how digital payments are transforming the
consumer and automotive payments space by giving individuals access to funds more easily
- all while making repayments faster and more accessible than ever before. Joining us in our
episode today is Preston Cecil, Consumer and Auto Finance Leader at REPAY, to discuss how
digitization is modernizing consumer and auto financing, making vehicle (and other big-ticket) purchases simpler than ever before. We’ll learn about the tools and services allowing
lenders to move more nimbly on finance applications and how these solutions benefit
customers, merchants, and lenders alike.
We’ll also find out:

(1:01) – How did Preston come to be with REPAY?
(2:56) – Who are the clients REPAY serves within consumer and auto financing?
(4:44) – What differentiates REPAYs consumer and auto financing solutions from the
rest of the market?
(6:50) – Who are the biggest competitors in the auto financing market?
(8:00) – What is instant funding in the context of personal financing?
(9:41) – Who is driving demand for new payment capabilities?
(11:23) – How has REPAY’s go-to-market approach evolved and how has the sales
pipeline developed?
(14:06) – What does Preston see in the future of consumer and auto financing
payments?

To find out how real-time electronic payments can benefit your business, head over to https://www.repay.com/ for more.

In our first season, we learned how realtime digital payments allowed big enterprises to more accurately (and more efficiently) monitor their cashflows, ensuring suppliers, vendors and partners were paid on time. However, this technology doesn’t just present benefits for B2B relationships. In fact, realtime transactions also provide a convenient solution for consumer payments, too. Because as the world continues to move towards a more digital future, whether a consumer is paying for groceries or making a mortgage payment, they want to be able to do it quickly and (most importantly) digitally.

In this episode of Forces in Fintech, we learn how the world of consumer payments is being revolutionized thanks to digital payment technology. We’ll find out which trends and technologies consumers are calling for and learn about the solutions delivering these capabilities to big businesses. And to guide us through this exploration of the consumer payments landscape is Executive Vice President of Consumer Payments at REPAY, Jake Moore. Join us as Jake explains the importance of digital payments in the consumer space and gives us an insight into how the technologies in this sector have evolved. We’ll also discover why consumers are making the switch to digital and hear how the adoption of different payment methods has changed in recent years.

We’ll also find out:

(1:11) – How did Jake go from a Wall Street dealmaker to digital payments revolutionary?

(2:39) - What are Jake’s thoughts on the secular tailwinds within REPAY’s consumer market?

(4:22) - What markets does REPAY serve and what products does it have to penetrate the TAM?

(5:49) - How has competition in this space evolved?

(6:43) - What are the trends and technologies enterprise clients are asking for?

(7:38) - What does REPAY’s client growth opportunity look like?

(8:32) - What markets or technologies will draw the most attention over the next few years?

(10:19) - How does Jake foresee the consumer payments industry evolving?

To find out how real-time electronic payments can benefit your business, head over to https://www.repay.com/ for more.

Our cars are advancing at an exponential rate, making our journeys faster and safer than ever before. However, for the auto dealership industry, the same can't be said for its payments infrastructure. Many dealership groups still find themselves relying on checks and credit cards to settle accounts, and an even smaller fraction take advantage of ACH payments. But this reliance on traditional payment methods, unlike the cars being sold, is neither quick nor as safe as the modern solutions now available.

In this episode of Forces in Fintech, we find out about the solution helping dealerships to modernize their B2B payments and reconcile their accounts, regardless of payment type. We speak with Cody Bradford, account executive at REPAY, to find out how this solution is making payments within the auto industry swifter and safer, and he discusses the future potential of digital B2B payments within the sector. We'll also find out about the importance of ACH and digitization in the wake of the pandemic, and we’ll discuss what dealerships need and want from their payment solutions.

We'll also ask:
(0:41) - How did Cody go from restaurateur to payments expert?
(1:47) - What does the B2B payments landscape within the auto industry look like?
(2:46) - Why is the auto dealership industry ripe for digital transformation?
(4:24) - What kind of auto dealership customers does REPAY’s solution cater to?
(4:53) - How did COVID-19 help bring digital payments to the forefront of the auto industry?
(6:29) - Why is REPAY's B2B payment solution important to its customers?
(7:50) - Who are the main competitors when it comes to payments in auto?
(9:05) - What does the onboarding process for REPAY's B2B payment solution look like? And how easily can it be integrated into dealerships' existing dealer management systems?
(10:02) - How useful is having a large supplier network?
(10:52) - What does the future of B2B payments look like in the auto dealership space?

To find out how real-time electronic payments can benefit your business, head over to https://www.repay.com/ for more.

There's a fine choreography to keeping a modern business running smoothly. And as organizations have become more complex, innovations, such as ERP, have risen to the challenge to ensure that businesses can operate day in, day out without a hitch. But while ERPs give business owners peace of mind that all arms of their operations are communicating freely, the prospect of modifying those very systems can be a daunting one, meaning that progress can often lose out to caution.

However, enhancing your ERP with B2B payments doesn't need to be a cause for worry, and it's certainly not an integration that businesses have to tackle alone.

In this episode of Forces in Fintech, we learn about the benefits of incorporating B2B payments into ERP systems and we find out the scale of opportunity for electronic payments in the ERP space. And joining us in our exploration of B2B payments within the ERP landscape is SVP of sales and channel development at REPAY, David Harper. He explains how customers can take advantage of embedded payments and details the process used to successfully integrate payments into clients' ERPs. David also reveals the features and functions customers most want in their ERP integrations and he details his vision for the future of payments.

We'll also find out:
(1:20) - How did David get into the payments space?
(1:55) – What does the ERP market look like right now? And what kind of opportunity is there for B2B payments within it?
(3:27) – What does the process of integrating B2B payments into an organization's ERP look like?
(5:35) - How do customers choose the right ERP and B2B integration?
(7:04) -What is the churn like in the ERP network?
(7:42) - What additional features or capabilities do customers want from their ERPs?
(8:34) - How does David see the B2B market evolving in years to come?

To find out how real-time electronic payments can benefit your business, head over to https://www.repay.com/ for more.

Standardization is the key to smooth sailing when it comes to payments. Because when all your suppliers, partners, and customers play by the same rules, you don't need to worry about incompatibilities in your finances interrupting your workflow. But, for the media sector, consensus on payment methods is still far from a reality. And for political ad agencies, this is a big problem. Because for their campaigns to be successful, they need to air at the right time and in the right place. But with different broadcasters demanding funds through different channels, making those payments on time becomes a challenge - risking ad space and political ambitions.

In this episode of Forces in Fintech, we learn all about the advances in electronic payments that are taking place within media with a little help from Jim Hughes, president of Media Payments, Inc., a REPAY company. Jim reveals the fragmented payment situation within the sector and details the hurdles that make timely payment of political ad campaigns so difficult. Jim also discusses how Media Payments Inc. is helping political advertisers to simplify their campaign spending, and how the organization is working to modernize B2B media payments.

We'll also find out:
(1:08) – What problem did Jim set out to solve when he started Media Payments Inc.?
(3:07) – What does the B2B payments landscape look like in the media vertical?
(5:55) – How widely accepted are ACH payments within media?
(7:04) – Who are MPI's typical customers?
(8:28) – What assets do REPAY and MPI offer to the media payments industry? And how does this offering position them for further market penetration?
(10:16) – What is the competition like in the media payments space?
(11:09) – What does MPI's GTM strategy look like?
(12:05) – How simple is the onboarding process for new clients?
(13:30) – How does having a large supplier network help MPI with sales?
(14:41) – What is customer churn like for MPI? And how do they minimize it?
(16:25) – What does Jim see in the future of B2B payments in the media industry?

To find out how real-time electronic payments can benefit your business, head over to https://www.repay.com/ for more.

Hospitals operate in an intricate and delicate financial ecosystem. And while some industries might be able to tolerate small delays in payments - for a hospital, it could mean life or death. Yet, many healthcare providers still function on legacy payment infrastructure, with little to no digital integration in their B2B payment systems. For many hospital executives, the perceived friction in adopting real-time electronic payments is just too much of a gamble when patient welfare is at stake. But while many might think that bringing digital B2B payments on board takes weeks or even months, the truth is that these services can be up and running for a hospital in as little as 8-10 hours.

In this episode of Forces in Fintech, Dara speaks with senior vice president of REPAY, Wade Eckman. They discuss the current state of B2B payments within hospitals and reveal just how easy it could be for healthcare providers to upgrade their payment systems to allow real-time electronic payments. They also reveal which payment technologies could provide the most benefit to hospitals, and Wade tells why, when it comes to onboarding digital B2B customers, retention is so high.

We'll also find out:
(0:38) - Who is Wade Eckman? And how has he seen payments evolve within hospitals?
(2:40) - How big is the opportunity in digitizing payments within the healthcare industry?
(4:08) - What kind of assets does REPAY offer for organizations within healthcare? 
(6:18) - How competitive is the payments environment in hospitals?
(7:47) - What kind of hospitals can REPAY help?
(9:10) - What does the onboarding process look like for new clients in the healthcare space?
(12:00) - How long does it take to get digital payments up and running?
(13:24) - How is having a large supplier network beneficial from a sales perspective?
(14:40) - What drives customer churn in the healthcare space?
(15:47) - What is the future of digital B2B payments in the health sector?

To find out how real-time electronic payments can benefit your business, head over to https://www.repay.com/ for more.