August 10, 2021

What does it mean to monetize payments?

If you’re a software company that has integrated payment processing capabilities into your offering, more than likely you see it as a service that comes at either a cost to your bottom line or as a pass-through line item that your customers cover. But what if you could monetize payments, changing payment processing from a cost center into a revenue strategy that could add a substantial new revenue stream to your bottom line each year? With Tilled, that’s possible in just a matter of days. 

At Tilled, we allow you to monetize your payments. It’s a term that, if you’ve spent any amount of time on our website, you’ve seen before — but do you know what it actually means? It’s what we’ve based our business on, and it’s the idea that for each dollar you process through your platform, you should earn money in exchange. You’ve done the work to build your software, land the customer, onboard them to your platform, and facilitate the payment. In exchange, shouldn’t you be rewarded? Tilled makes that easy, while oftentimes actually improving your user experience in the process. 

This concept of monetizing payments might sound revolutionary to a software company that hasn’t operated in the payments industry before, but to payments experts and those of us who have worked in the industry for years, it’s far from new. In fact, it’s quite an old concept that goes back to Integrated Payments 1.0 and traditional ISO referral relationships. Since the day you could process a credit card, there have been people and businesses who have benefited throughout the payments processing chain. In fact, it’s where our founders started — as an ISO that profited from referring companies to credit card processors for payments processing. And it’s part of why we decided to build Tilled.

As consultants for major software companies processing hundreds of millions of dollars a year, we were often asked about setting up software companies with ISO referral relationships so they could start monetizing their payments. Unfortunately, those relationships meant sacrificing the instant onboarding experiences and seamless approvals their customers were used to thanks to Stripe, Square and Braintree. These software companies that wanted to monetize their payments through ISO referral partnerships were consciously accepting that they were making their user experience worse in the process. 

This is where many PayFac-in-a-Box providers saw an opportunity, but in our opinion they missed the mark. Instead of allowing software companies to become the equivalent of an ISO referral partner — of which thousands and thousands exist in the traditional credit card processing market — they proposed that every company should become their own fully registered PayFac, taking on all the headaches, overhead costs and liabilities that come with it. 

With Tilled, we recognize that not every company processing payments should be or even wants to be their own fully registered PayFac. We believe that every software company should have the ability to easily monetize their payments, and they shouldn’t have to sacrifice their user experience in the process. That’s why we created PayFac-as-a-Service.

Tilled is payment facilitation reimagined for companies that don’t have the time, money or expertise to become their own fully registered payment facilitator. Tilled’s revolutionary PayFac-as-a-Service platform allows software companies to enjoy all the benefits of becoming a PayFac without any of the upfront investment or ongoing overheads. All while capturing the lion’s share of the economics.

Are you ready to Get Tilled and start monetizing your payments?

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