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Enter ISVs, which play a crucial role in enhancing and extending the capabilities of SaaS solutions. An ISV partner is a software vendor that partners with an ISV and provides additional services or technology. Participating in ISV partner programs offers several advantages. Its purpose?
In this article, we’ll break down two popular terms used in the payment processing industry—ISV and PayFac —and see what they exactly mean. TL;DR An independent software vendor (ISV) develops and sells software applications independently of hardware manufacturers. What Is an ISV vs PayFac?
The great thing about an ACH PayFac solution like Stax Connect is that SaaS companies or ISVs can embed ACH payments in their software easily and own (also, white label) the payment experience. The main difference, however, is that ISOs repackage and sell payment processing services on behalf of a different, possibly larger company.
By hiring the services of a payment facilitator or processor, a business does not have to open its own merchant account. This system works very well for SaaS providers. According to Richard, many SaaS companies and ISVs focus on the “attachment” part of the journey and expect users to just start processing.
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