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Cloud-based business payment solutions specialist PayCommerce announced a reseller program that will enable ISOs to offer monthly subscriptions to its cloud-based universal business payments platform for small to midsize businesses at a retail price as low as $14.99 per month. In addition, PayCommerce announced a free single-user edition of its software as a service-based electronic global invoicing solution.
The company is providing ISOs, banks and other resellers with a cloud-based SMB solution they can implement for their customers and which can integrate with existing accounting software from QuickBooks to Oracle and SAP. The company’s PCI-DSS (PCI Data Security Standard) validated payments platform offers a single source for all customer billing and payment activity and access to multiple processors and payment types, fraud management and security services.
Resellers can offer customers a basic subscription at $14.99 per month, or a one-year paid-up subscription for $149.90, in addition to transaction fees, with the ability to send electronic invoices with a “Pay Now” feature, receive credit and ACH (Automated Clearing House) payments, and access a dashboard and reporting features that provide up-to-date payables and receivables insight.
An advanced subscription, priced at $24.99 per month or $249.90 per year, expands on basic options with the addition of outbound credit card payments, Fedwire settlements, recurring invoicing and payments, more advanced reporting, and the ability to support up to five users. In addition, SMB subscribers using Intuit QuickBooks or Sage Peachtree will have the option under the advanced program to sync their payments and receivables to their accounting software.
“PayCommerce wants to make enterprise-class electronic payments available to businesses of any size,” said PayCommerce CEO and founder Abdul Naushad. “By working with ISOs and other resellers, we’ll be able to reach large numbers of subscribers for cloud-based payments services and generate a network effect that will drive referrals from each customer they sign up.”
The PayCommerce solution allows any SMB merchant on the PayCommerce platform to invite their suppliers to sign up at no cost. The free version will enable vendors to send electronic invoices to their customers at no charge. By increasing the numbers of vendors participating on the platform, PayCommerce said it would leverage the network effect of subscribers marketing the value of the cloud-based payments service to their suppliers. Each new vendor who upgrades from the free version to a subscription will be referred through the original ISO or reseller who signed the referring customer, the company noted in a release.
“Our vision is an easy-to-use, cost-effective cloud platform that provides SMBs with a universal business payments solution to automate receivables and payables and integrate the processing and global settlement of virtually all forms and types of payments,” said Naushad. “ISOs and other resellers are closer to the needs and concerns of SMB merchants than anyone, and will be a strategic partner in spurring participation.”