The world of PayFac® Part 2 | Episode 31

Updated on January 10, 2024

Are you curious about the world of PayFac® developers? You’ve come to the right place. With the acquisition of Payrix, Worldpay for Platforms is now the one-stop payments shop for software companies wherever they are on their payments journey.

In this episode of the PayFAQ Embedded Payments podcast, host Bob Butler talks with Jennifer Pinnick, Senior Operations Manager at FIS, to continue an exploration into the exciting world of PayFac. (This isthe second part of a two-part discussion. Click here if you missed the first part, featuring Richard Drake, also from FIS.)

The opportunity for growth, new products and enhancements, and finding the different things that each PayFac developer needs is what’s most exciting for Pinnick. “We’re always looking for new and innovative ways to help our PayFac developers move their needle forward.” One way is to assign support resources to each PayFac developer who knows how you process and use the systems at Worldpay.

According to Pinnick, there are many other reasons to choose Worldpay for Platforms, including scalability, reliability, and their focus on payments – the heart of what they do. “Our platforms can support some of the largest both direct and PayFac developers out there. We’ve helped build some small companies into robust and what some would say unicorns today.”

When a new PayFac developer comes to Worldpay, Pinnick said they first look at how they can help the developer do their operational jobs best. “Once our sales and implementation teams have gotten you over the hurdle, we make sure your set up for success, whether that’s IQ training, education, and really owning that experience and relationship.” The goal is help you deliver a white-glove experience to your clients.

“If you’re new and you’re not sure where payments really fits into your embedded ecosystem, you can start with our integrated payments model. If you’re a little more savvy and secure, I always recommend Payrix as our PayFac-as-a-Service. And then, of course, I also would love to work with you as a PayFac developer and continue to help you grow and develop your business,” Pinnick says. “We can help you grow your business and stay profitable in this ever-evolving marketplace.”

Have a listen and reach out today to find the right solution for you!

  • Transcript

    Welcome to the PayFAQ Embedded Payments podcast brought to you by Payrix. As payments and software experts that eat, sleep, and breathe embedded payments we’re as passionate about you as you are about your customers. Each podcast episode will provide insights about Embedded Payments designed to help you feel the transformation and growth of your software business. You’ll learn from industry experts, Payrix customers, and leaders on the Payrix team about the latest trends, best practices, and real-world guidance from payments experts to help you take your software platform higher.

    Bob Butler

    Hi, everyone. Welcome to the PayFaq Embedded Payments podcast brought to you by Payrix. I’m your host, Bob Butler. And today I’m going to be speaking with Jennifer Pinnick. She’s the senior operations manager over here at Worldpay for Platforms, and we’re going to be talking all about the world of PayFac as we wrap up the discussion in our part two of the world of PayFac. Hi, Jennifer, welcome to the show.

    Jennifer Pinnick

    Hi, Bob. Thanks so much for having me today.

    Bob Butler

    I’m really excited to continue our conversation about the world of PayFac. As a quick recap, when Payrix was acquired under the Worldpay line of business, it meant that software companies now have a one stop shop for all of their payment needs. Every payment need a software company might have is bundled under the Worldpay for Platforms umbrella, and we meet software companies wherever they are in their payments journey. Today, we’re going to wrap up this specific discussion on the world of PayFac. But Jennifer, before we go into full PayFac mode, can you tell our audience a little bit about yourself and your software and payments background?

    Jennifer Pinnick

    Yeah, absolutely. Bob, I started on the issuing side, worked directly with financial institutions, and then I moved over into the merchant space under the PayFac® developer line of business. So, I have actually been working in the PayFac developer space for many years now. I was very fortunate to be familiar with some of the most thoughtful and innovative minds in the PayFac developer line of business over the years.

    Bob Butler

    Well, now that Worldpay for Platforms has such a robust offering for software companies, what do you find most exciting about the world of PayFac and/or how we work with the various PayFac developers?

    Jennifer Pinnick

    I find opportunity for growth, as well as the continuing evolution of our supportive clients, our new products, enhancements, as well as finding the different things that each PayFac developer needs to grow and develop to be some of the most exciting things in the world of PayFac. So, every developer is slightly different. And so really digging in and finding the root of what their needs are and communicating that to our business as a whole and finding those wins has really been very rewarding for me.

    Bob Butler

    Well, can you tell me more specifically about how you support our PayFac developers? And what sets us apart in the work that you and your team provide?

    Jennifer Pinnick

    Yeah, absolutely. So, I help manage our day to day account management team, we are the frontline experience for our PayFac developers. And we work internally as well to improve the operational support within our entire company. So, we actually assign people to each of our PayFac developers. So, there’s someone who knows how you process and use our systems. So that both makes us a differentiator within the industry where we’re actually giving you someone to support you directly as well, as we’re always looking for new and innovative ways to help our PayFac developers move their needle forward.

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