As a part of the agreement, the platform will integrate CardConnect’s payment processing technology with its already-existing mobile payments platform to streamline the mobile payments process: the initial onboarding (registration and approval), processing payments, and receiving payments.
Payably provides a platform that accepts and processes mobile payments, but its core business model is focused on its SaaS-based technology platform that operates on the back end to automatically connect payment transactions with merchants’ accounting platforms and generate business analytics in real time. It eliminates the need for manual data entry in bookkeeping and prevents duplicate entries without requiring business owners to take any additional steps; once the payment is received, the information appears in QuickBooks Online without lag time.
In addition, Payably has announced changes to its subscription offerings, with tree distinct services: Payably NOW (a mobile payments app powered by CardConnect that is compatible with chip cards and NFC payments), Payably SYNC (a mobile point of sale app that syncs data between mobile payment transactions and QuickBooks Online in real time, including customer data, SKUs, and tax rates) and Payably INSIGHT (a technology that works with Payably NOW and Payably SYNC to generate reports based on transactions, providing insight into sales, revenue and customer data).
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