Rainforest

The biggest challenge for a lot of platforms moving to embedded payments is merchant support. That's why we created an extensive set of helpdesk articles that you can utilize to streamline support operations and educate your merchants on payments. Pre-built helpdesk articles are available for all platform partners, so your team can confidently handle payments support on Day 1! Learn more here: https://hubs.ly/Q02M2hKh0

🧐 How much revenue can your SaaS company really generate with embedded payments? Rainforest's ROI calculator can estimate it for you! Link in first comment ⬇

Being a PayFac is really expensive. I say this as a PayFac operator and as the person who builds ROI models for our largest software platform partners. Most software companies vastly underestimate the cost of becoming a PayFac. This is even true for companies processing more than $1B annually – a volume at which industry experts say it makes sense to become a PayFac. Where does the money go? 🏦 Selecting, vetting, negotiating with, and integrating with a sponsor bank partner 👮 Information security, PCI compliance, and SOC2 and PCI audits 💳 Card Brand registration fees ⚖️ Regulatory compliance and AML audits ✍️ Underwriting, risk management, and merchant losses 📄 Invoicing, billing, and reconciliation ↩️ Chargeback handling 🧑💻 Engineering staff, IT, and building and maintaining a secure data vault Once we factor in the personnel required to support these requirements, operating as a PayFac can be 10x the cost of partnering with a PayFac-as-a-Service provider like Rainforest. Rainforest specializes in platform payments, so we can satisfy PayFac compliance requirements in an efficient and economical way. For example, for platforms using our embeddable components, our product was designed to greatly reduce the cost and scope of the platform and merchant PCI responsibilities (like keeping the merchant and platform card data environment out of PCI scope and hugely lowering the burden on internal DevOps teams). We have the scale and expertise to handle risk management, compliance, and finance operations centrally, and can do so at a much lower cost than a software company standing up a new team to handle these functions. Rather than having to vet, select, and negotiate with the myriad of vendors needed to process payments (for example, a sponsor bank), you can integrate with Rainforest – a one stop shop. And we built our core technology specifically for the purpose of platform payments. We keep the embeddable components up to date so our platform clients don’t have to allocate engineering resources to modifying a form every time a compliance requirement changes.

Rainforest was designed to make it easy for software platforms to offer intuitive in-context payments reporting, but sometimes merchants just need to download their payment data 📝 Now merchants can export the payments report or deposit report to a comma-separated values (CSV) file with just a few clicks. Users can even export several days of deposit activity in one report!

Considering a low-cost payment provider? While the highest-priced provider isn't necessarily the best, no one becomes the low-cost leader without compromising on quality or service. Our latest post explores the hidden cost of low-cost payment providers, and how software companies ultimately pay the price. Link in first comment ⬇

🎉 Rainforest is featured in the July issue of Nilson Report! If you aren't a subscriber, you can get access to the current issue (and read about Rainforest 😉) by clicking through to Nilson Report's post and leaving a comment ⬇

🎊 Excited to share that Rainforest's Founder and CEO Joshua Silver is one of Georgia Tech Alumni Association's 40 under 40! Joshua graduated from Georgia Institute of Technology College of Computing at Georgia Tech, then went on to found healthcare patient payments company Patientco, payments strategy consulting firm LaunchPath, and embedded payments company Rainforest. See all 40 honorees here: GTalumni.org/40under40

🎊 Excited to share that Rainforest's Founder and CEO Joshua Silver is one of Georgia Tech Alumni Association's 40 under 40! Joshua graduated from Georgia Institute of Technology College of Computing at Georgia Tech, then went on to found healthcare patient payments company Patientco, payments strategy consulting firm LaunchPath, and embedded payments company Rainforest. See all 40 honorees here: GTalumni.org/40under40

🚀 We're thrilled to continue our relationship with Accel! Amit Kumar, Partner at Accel, said: "Rainforest has all the core ingredients to be an industry-defining company - a strong team of customer-first payments experts, a purpose-built API and modern technology stack, and a growing set of evangelical customers"

We're excited that BoxGroup participated in both our Seed round and recent Series A 🎉 BoxGroup Partner Adam Rothenberg said: "Most SaaS companies underestimate how much support they'll need in order to maximize payments adoption. Rainforest's leadership team anticipated this, so they built their expertise from 100+ previous consulting engagements right into the product and support model to help SaaS companies drive payments adoption and deliver a massive ROI."