The founders of PAYSTRAX have decades of experience in the payments industry. In the past, they worked with internal software development teams who spent most of their time keeping up with connection updates, legislation and regulations. One of their primary goals was to onboard merchants as quickly as possible to become profitable. To achieve this, PAYSTRAX needed a reliable and scalable white label platform partner with a strong API to quickly incorporate new partners and payment types into their backend.
“In retail, uptime is everything. So, the first question is always ‘What’s your uptime.’ To be able to say we are using the white label ACI platform made it very easy for merchants to understand we would be providing them with a very reliable and highly available solution.”
— Bjarni Þór Sigurðsson, Chief Commercial Officer, PAYSTRAX
The challenge
Gunnar Már Gunnarsson and Johannes Kolbeinsson were starting a new company and wanted to be quickly up and running with a solid, proven solution that was PCI DSS compliant and continuously updated to keep up with consumer preferences. Most importantly, the solution had to work with their existing processing and POS vendors and scale up to allow them to add new clients and payment types very quickly.
The solution
A white label version of the ACI Payments Orchestration Platform was chosen because it encompassed everything PAYSTRAX was looking for in a single API, enabling them to quickly onboard new clients and add connections from the entire global payments ecosystem.
The results
PAYSTRAX was able to exceed their goals by teaming up with partners who were already connected to the ACI platform. This would have taken an extra six to twelve months if they had to integrate partners without ACI. Many of PAYSTRAX customers have recurring subscription-based services and wanted to offer one-click or embedded payments into their systems.