03 May Independent Software Vendors Can Meet Demand for Innovative Payment Options with Text-Based Payments from Fiserv
Strategic collaboration with Authvia enables integration of TXT2PAY® conversational commerce technology into software
BROOKFIELD, Wis., May 2, 2023 – Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, is enabling Independent Software Vendors (ISVs) and software companies to expand simple and secure payment experiences via mobile devices with a first-of-its-kind text-based payments capability. This new technology will be available via an integration with Authvia, an innovative SaaS company at the forefront of driving commerce into the conversational commerce era.
Text and chat have become more common in business-to-consumer communications, and as the demand for contactless payments grows, so has the demand for text conversations to end in a seamless transaction.
“As consumer demand fuels the software-led payments evolution and ISVs focus on building for the future, Fiserv is expanding its digital payments capabilities into conversational commerce,” said Jon Halpern, Head of ISV at Fiserv. “Authvia provides a robust solution that aligns with our ISV payment engine, with industry-pacing technology and real experts helping to guide integration.”
Through Authvia’s integration with CardPointe ® gateway from Fiserv, ISVs can instantly connect processing services with the patented Authvia technology, TXT2PAY, allowing business users to bill, invoice and accept payments from customers quickly and easily via text and chat conversations.
The combination of Fiserv and Authvia technology provides ISVs a complete, PCI- and TCPA-compliant platform with the APIs, tools and expertise necessary to securely integrate text-based payments into their software without developing their own solution.
“We wanted to find a new and innovative product for our clients, and our relationship with Fiserv gave us a simple path to offering a flexible solution like TXT2PAY, with no development work required,” said Sean McNabb, President of Red Rook Payment Solutions. “Initially, we rolled out TXT2PAY as a standalone solution to a single client, and due to overwhelmingly positive feedback, we have now rolled it out to our entire client base.”
With text message open rates at an impressive 98%, text payments can reduce the time and resources needed to collect payments and diminish friction for both the merchant and the payee. The intuitive payments technology of TXT2PAY accelerates cash flow and provides the contactless and convenient mobile payment experience consumers expect.
“We are thrilled to partner with Fiserv as we look to revolutionize how businesses and consumers engage and transact,” said Chris Brunner, Founder and CEO of Authvia. “Together, we’re bringing compliant and secure conversational commerce technology to market at scale and effectively eliminating barriers to businesses’ success – all while creating positive customer experiences.”
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at https://integrate.clover.com/text-based-payments.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of sale and business management platform. Fiserv is a member of the S&P 500® Index and one of Fortune® World’s Most Admired Companies ™. Visit fiserv.com and follow on social media for more information and the latest company news.
Authvia is an innovative SaaS company at the forefront of driving commerce into the conversational commerce era with first-of-its-kind text-to-pay technology—a patented solution that will revolutionize how businesses and consumers engage and transact. We seamlessly orchestrate finance, communication, and technology to support and secure transactions via text messaging and other message-based communication channels, such as chat or WhatsApp. It’s done via Authvia—the conversational commerce engine. For more information, visit www.authvia.com.
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