What comes to mind when you hear the word “risk?” Perhaps you recall the popular strategy board game, Risk, and evenings in your youth spent conquering the world and stealing territories from your friends and younger siblings with a roll of the dice. Or maybe the word suggests hazardous situations or financial gambles.
While these are obviously all natural responses to the word, if you’re an independent software vendor (ISV), the word “risk” is probably more likely to trigger a sweat than fond memories of tabletop world domination.
We get it. In today’s digital world and tech-driven economy, providing software and handling payments can be a risky proposition. As an ISV, you assume risk each day on behalf of your clients as well as your company and its bottom line.
While technological strides have been made, providing ISVs with new and better options to process payments, a significant shortfall of these offerings has been the ability to manage the payment experience and help manage payment risk. Some new approaches in the market have emerged, but in many cases are leaving software companies with high liabilities and may require putting up huge reserves to make client approval decisions and grant expedited onboarding. Improper infrastructure to support the associated risk also presents significant challenges over the long-run.
Wind River Financial has developed a solution to dramatically offload payment risk, while putting significantly more control for the ISVs to make underwriting decisions, streamlining their clients’ onboarding process and increase their revenue.
A few features of our “risk busting machine” include: automated approval, timely underwriting reviews, fraud monitoring, risk controls, and an integrated processing platform with data encryption and tokenization. These tools help us reduce the PA-DSS and PCI data security scope for you and your clients and ensure compliance with ever-changing payment regulations.
Too good to be true? Nope, but we’re happy to prove it to you. Visit our website or contact one of our relationship managers or sales associates to learn more about how WRF is providing payment risk solutions to ISVs like you.