For consumers, making a purchase is simple, but behind the scenes, payment processing depends on a complex system of operations between banks and merchants. There must be a methodical, traceable trail connecting transactions to card issuers, consumer bank accounts and businesses. In order to juggle the task of processing and recording billions of dollars’ worth of transactions, how can payment processors create a streamlined network that will assure smooth and efficient payment experiences?

In this episode of Forces in Fintech, we’ll learn more about the technology that manages all these moving parts to make transaction processes seamless. We speak with REPAY’s SVP of Clearing and Settlement, Michael Cottrell, to understand the communication that occurs during each step of the clearing and settlement process. He’ll also tell us about the modernization of the tech stack that is expanding data collection and risk management capabilities for payment transactions.

We’ll also find out:

(1:26) – How did Michael begin his career in payment processing, and what led him to REPAY?

(2:21) – What is the REPAY Clearing and Settlement platform and what is its role in payment processing?

(3:59) – What differentiates REPAY’s in-house Clearing and Settlement process from competitors?

(5:12) – Who are REPAY’s RCS clients and target audiences?

(8:58) – How is this innovative process being received in the sales process?

(10:24) – What are Michael's thoughts and opinions on Payfac (or payment facilitator) as a service, and those that offer the service?

(12:41) – How does Michael see the future of the payments industry evolving?

Constant innovation in the tech industry opens up countless opportunities to ease strain on businesses and their customers, but it can also leave consumers, providers, and legislators struggling to keep up with the field’s evolution. Regulation changes, escalating growth and acquisitions, and introducing additional compliance efforts are just a few factors testing the field’s agencies and their ability to maintain pace. How can the ARM vertical’s smaller operators begin to maneuver a landscape with so much complexity and change?

In this episode of Forces in Fintech, we’ll analyze the state of the market to understand which tech strategies businesses can implement to stabilize and strengthen their position against current competition. We speak with REPAY’s Senior Vice President of Sales, Chad Probst, to learn how REPAY has streamlined innovative tech and built efficient teams to solve these common industry challenges. He’ll also teach us how an increase in compliance tactics can also increase profitability and efficiency.

We’ll also find out:

(1:27) – How did Chad’s previous work lead him to his role at REPAY?

(1:49) – What is the current landscape of the accounts receivable management vertical, and how has it evolved over time?

(3:53) – Is churn potential the main driver of the market’s current acquisition trend?

(5:37) – What is the status of field competition?

(8:13) – What approach should be taken when it comes to selling in the ARM space?

(9:08) – How does seasonality or countercyclical timing in an economic cycle affect the business and their customers?

(11:13) – What does the future of payments in the arm space look like?

Whether we’re buying something online or in-store, the number of payment options we now have at our disposal is enormous. With credit cards and debit cards in both our physical and digital wallets, we no longer need to rely solely on cash or check, and we can even complete transactions with our smartphones or watches.

No matter the purchase, we now have a plethora of ways to pay. But why can’t we have the same choice when it comes to our mortgage payments too?

In this episode of Forces in Fintech, we explore this very question and take a look at the solutions available for borrowers to pay off their mortgages using newer and more convenient means. We speak with REPAY’s Mortgage Vertical Executive, Erik Skinner, to understand the innovations transforming the mortgage payment space. We’ll take a look at the industry to find out why evolution in this sector is so important, and we’ll explore why mortgage providers need to update and expand their payment options.

We’ll also find out:

(1:10) – What were the career experiences that led Erik to REPAY?

(3.01) – What are the unique characteristics and complexities in the mortgage payments space?

(5:24) – What’s the competitive landscape like in mortgage payments?

(7:30) – What makes REPAY's service offerings unique?

(9:10) – Why are REPAY’s partnerships with Black Knight and Visa game changers?

(11:50) – What is the growth opportunity like in this space?

(13:06) – What is REPAY’s GTM strategy in this vertical?