Pay Theory Blog
July 26, 2023

Pay Theory and Fiserv Partner to Simplify Embedded Money Movement

NEW YORK - Pay Theory is excited to announce our new partnership with Fiserv. Pay Theory is officially a Payment Facilitator and embedded finance partner with Fiserv. We are hard at work building the future of unified, embedded money movement. On Fiserv’s Q2 2023 earnings call, Robert (Bob) Hau, CFO, broke the news: "Our momentum is starting to build with PayFacs as well with the signing of ... Pay Theory." 

Later in the call, Bob shared:

"Finxact showcased its accessibility as an enabler of embedded finance with the win of Pay Theory. This payment facilitator serves the education and healthcare sectors and plans to enable a suite of banking as a service and money movement capabilities for its vertical SaaS partners. We are integrating Finxact with our merchant PFac platform to enable Pay Theory to extend its vertical saas capabilities to banking and payments. Our goal is to provide a single integration for vertical SaaS providers who want to leverage assets across our banking, payments, and merchant businesses."

What does our partnership mean for the payments world?

Great Minds Think Alike

Pay Theory and Fiserv came together on the insight that the fintech needs of SaaS platforms are changing fast. They are becoming broader, creating new embedded finance experience opportunities. The challenge is to give those platforms quick, easy-to-integrate access to the payment and finance tools they need to capture those opportunities. Pay Theory has created a financial technology architecture that can effectively take disparate money movement technologies and route them through one user-friendly platform. A partnership with FISERV allows those integrations to happen much faster yet, reducing go-to-market timelines down to a few weeks.

Payments Through the Lens of User Experience

What does this mean for the SaaS platforms, marketplaces, ISVs, and the payments space? Over the last decade, payments companies have created new features, business models, and underwriting approaches (all of which are essential) but have missed the end goal - enabling companies to strengthen their businesses by focusing on their customers’ needs. At Pay Theory, we see Payments as User Experiences. A partnership with FISERV, leveraging payment facilitation, core banking, and issuing platforms, creates a unique opportunity to evolve the conversation beyond payments toward unifying more money movement experiences.

A Healthy Use Case

Pay Theory is immediately putting this partnership to work with a healthcare technology company that helps healthcare facilities with short-term labor shortfalls. A journey mapping exercise uncovered the need to evolve this conversation beyond payment acceptance to include issuance and robust payout services. Creating this ideal user experience would have previously taken 4-6 different technology platforms, resulting in significant integration timelines and prohibitive costs. Pay Theory and FISERV’s latest partnership will allow this type of use case to be realized in just a few weeks.

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