New API Suites Enable Rapid Integration to Payment Platforms for Card, Bank Transfers, and Digital Wallets
WASHINGTON – February 13, 2023 – Ordway, the finance platform for innovative business models, today announced a new payments software development kit (SDK) that enables rapid integration with thousands of different fintech platforms. Customers using the billing and revenue automation platform can now connect to their payment provider of choice to collect fees owed for subscription and usage-based billing. Ordway will continue to offer turnkey integrations to many of the world’s leading payment gateways. However, the new SDK will also enable customers to connect to alternative gateways that offer lower transaction fees, special performance advantages, or more flexible reporting options.
The Ordway payments SDK enables SaaS and cloud providers to collect one-time payments as well as recurring payments for both monthly, pay-as-you-go plans and annual contracts. Payments can be collected in multiple currencies for fixed fee subscriptions, variable usage-based pricing, or percentage models based on the dollar value of transactions. With the payments SDK, Ordway customers can process payments from:
- Card Payments – Visa, Mastercard, American Express, Discover, JCB, Diners Club, UnionPay, and other card brands.
- Digital Wallets and Emerging Channels – PayPal, Google Pay, Apple Pay, Microsoft Pay, and other channels.
- Bank Transfers – US ACH credit and debits, Canadian preauthorized debits, BACS and SEPA Direct Debits, and other regional EFT models.
The payments SDK for SaaS billing acts as an extension of Ordway’s accounts receivable automation software that provides customers with communications about upcoming payments, aging reports on outstanding receivables, and a self-service portal to view historical transactions. For payments processed through Ordway, SaaS, and cloud companies can offer their customers flexible options such as:
- Pay Now – On-demand payments via a hosted payment page or within a customer billing portal
- Auto-Pay – Automated, recurring payments for monthly, quarterly, and annual bills
- Auto-Reconciliation – Application of credits to the associated accounts as payments are received
- Payment Retry – For failed transactions with configurable rules for attempts and intervals
- Refunds and Credits – Full and partial refunds along with generation of credit memos and accounting journal entries
- Notifications – Keep customers informed of successful payments, failed transactions, and expired card numbers
“Most people think about billing and collections as a back office, administrative function, but the payment process is an important part of the customer experience,” said Subbu Venkiteswaran, senior vice president of R&D and operations at Ordway. “In today’s capital-constrained environment, cash is king and making it easy for customers to pay should be paramount to finance organizations. SaaS and cloud providers should offer customers a frictionless, flexible choice of payment channels to remove any barriers that my decelerate cash flows.”
Ordway is a billing and revenue automation platform that is specifically designed for today’s innovative, technology-centric business models. With Ordway you can automate billing, revenue recognition, and investor KPIs for recurring revenue from subscriptions or usage-based pricing models. Using Ordway reduces your dependency on spreadsheets and manual processes, enabling you to run a leaner finance organization. But it’s not just about cost savings, Ordway generates more accurate billing and KPI reporting that your customers and investors will love.