Forward

Founders and investors often wonder if generating revenue through payments is applicable to their business - our most recent post is specifically for this audience. https://lnkd.in/gvr9a7Kd

Big news from Forward this week as we continue assembling our dream team. Check out our blog post below as we welcome Savannah Krieg to the team! https://lnkd.in/gNdwEsub

🚀Exciting news for SaaS companies looking to unlock new revenue streams🚀 Check out our latest blog post on "Unlocking Payment Monetization: Overcoming Low Attach Rates in SaaS." We look at strategies and insights on how to effectively integrate and monetize payments within your SaaS platform. We cover: 🔹 The challenges of low attach rates 🔹 Proven strategies to increase payment adoption 🔹 Real-world examples of successful implementations Don’t miss out on these valuable insights that can help transform your payment processes and boost your bottom line! 👉 Read the full blog here: https://lnkd.in/d5w33zB9 #SaaS #PaymentMonetization #TechInnovation #BusinessGrowth #Forward

Let's talk about payments in the Government sector At Forward, we empower software companies by integrating payments across various verticals. Today, we explore the Government sector's unique challenges and opportunities. 🏛️ From national to local levels, Government organizations collect a myriad of fees, fines, and taxes. While federal income relies heavily on income, social security, and corporate taxes, state and local governments derive over $275B annually from diverse activities such as utility bills, recreation fees, and licenses. 💻 Forward enables governments to streamline the collection and allocation of funds. For instance, a citizen can pay a single utility bill that covers electricity, water, and sewer, with the payment being correctly settled to various departments. This is a game-changer for efficiency! 💸 Governments can charge convenience fees for online payments, ensuring they receive full amounts. However, balancing this with discounted interchange rates is crucial – a decision best made early in the design phase. 🔗 Many transactions use PaybyBank or ACH. Forward’s PayEngine technology offers low flat rates and an intelligent risk engine, enhancing the payment experience with fewer holds and faster releases. Our work in the government space exemplifies the detailed and innovative solutions we provide to help software partners potentially double or triple their revenue. Dive into our latest blog to learn more: https://lnkd.in/gbK8wvJC #GovernmentPayments #SaaS #Fintech #PaymentIntegration #Forward

Against a backdrop of slower capital deployment in fintech (1H 2024), integrated payments companies are bucking the trend. Forward and others have announced significant fundraises in recent weeks. I've taken a number of calls asking "why" or "why now?" Three reasons (1) Integrated payment flows are accelerating and taking share from bank/sales rep originated payment volume  (2) SaaS companies increasingly know this opportunity exists, but are struggling to execute  (3) Payment stacks that were built for the integrated model are finally arriving after being desperately needed for years On the first point, only 9% of the $8T in U.S. payment volume was "software integrated" in 2016. Analysts from major investment banks are forecasting this number to grow to 50%, or $4T, by 2030. This makes sense because payments that are seamlessly built into the SaaS tool an SMB uses to run their business offers a far superior workflow to swivel chair payments sold by banks and sales reps. While SaaS companies increasingly know they should be generating income from payments, most are struggling with attaching payments to their SaaS revenue (customer adoption should be 70%+ and is often sub-20%). They need help from a person or offering they can trust.  Finally, payment technology reinvents itself every decade as distribution models evolve. Legacy processors (including Stripe) were architected in an era where the PSP (payments service provider) had a direct relationship with the merchant. Newer managed PFAC stacks are purpose built for integrated payments - improving boarding, processing and servicing.  That's what we've done at Forward. We have prospects tell us every day “YES, this is how I expected it to work.” We are transitioning software companies off legacy platforms in days, not months. If re-evaluating your payments stack is on your "to-do" list - let Danielle Madison know and her team will do the heavy lifting or connect you with a consultant that can present you with multiple options.  As a former SaaS founder, investor, board member, ex-payments giant executive - my heart is in helping you succeed.  

Thank you for the incredible response to our funding announcement. This week we want to spotlight a key new team member. We take team building seriously. Our mission is to help software companies navigate the technical and business challenges associated with building a payments business. To do that, we need each Forwarder to know the space cold, while having a warm empathy and healthy respect for how hard it is to build a SaaS company. Please join us in welcoming Nicole Hall to Forward! https://lnkd.in/gz6c9rVS

We’re excited to turn the lights on! At Forward, we’ve been processing payments on behalf of software partners since last year, but with today’s announcement of our $16M seed round led by Commerce Ventures, Elefund, and Fiserv - you no longer need a private invite to monetize the payments flowing through your SaaS platform.  A heartfelt thank you to our customers, partners, and investors who all made it possible for us to pursue our dream of helping software companies navigate the complex world of payments successfully.   https://lnkd.in/g2qSZWc6