bankingciooutlook

Hyfin: An All-Integrated Contactless Payment Experience

Brett Karlin, VP, HyfinBrett Karlin, VP
As cash goes the way of dinosaurs, businesses are thriving using contactless payment. Over three-quarters of Americans use some form of digital payment—browser-based and in-app online purchases, in-store checkout using a mobile phone or QR code, and person-to-person payments. It’s less fussy, can power various services, and offers high levels of visibility that help simplify accounting. And while the penetration of digital payments reached 78 percent in 2020, recent growth has slowed, implying that the technology is yet to overcome some systemic barrier to reach the remaining group.

The right contactless payment solution will not only address current market challenges but also serve as a fertile ground for businesses to take off with contactless payments in the future.

Established to address this need is Hyfin, a robust contactless payment platform that allows businesses to get paid easily and efficiently through multiple channels such as text-pay, QR code payments, subscriptions, card-on-file, and Payment Links. It’s a white-labeled, intuitive SaaS payment solution specifically built for enterprises, which can also be tailored to address the needs of SMBs.

Hyfin was conceived in 2019 to help dine-in restaurant customers pay at the table via QR codes. Since then, the company has quickly expanded its contactless payment offering to include text message links. It also serves as an industry-agnostic solution for payment processors and Independent Software Vendors (ISVs), helping them overcome legacy invoicing bottlenecks. The solution also allows processors to enter markets that were once underserved and paying “manually keyed” rates on card not present payment captures. Additionally, many financial institutions leverage Hyfin to expand their branded portfolio of solutions with a feature-rich roadmap to deliver value-added enhancements that help them stay ahead of the competition.

“We’re an open partner connecting merchants to customers, providing them with readily available payment solutions across every industry, conventional and emerging,” says Joe Layne, President and CEO of Hyfin. For merchants, Hyfin is a single intuitive ecosystem that delivers all contactless payment collection options needed to achieve the lowest possible most secure processing rates.

Hyfin is also in¬strumental in address¬ing clients’ complex accounting needs and challenges. The com-pany has built direct integrations with lead¬ing accounting plat¬forms, such as Quick¬books, and the API allows ISVs to access Hyfin’s invoicing and payment collection capability. Hy¬fin can work equally well as the primary interface or behind the scene, offering its end-to-end con¬nectivity to enable faster payment processing and eliminate accounting complexities.


We’re an open partner connecting merchant software to customers, providing them with readily available payment solutions across every industry, conventional and emerging

With its unmatched experience, knowledge in the payment space, and passion for solving clients’ pressing needs, Hyfin serves as the most sought-after partner for a broad clientele.

Hundreds of restaurants switched to the Hyfin platform in 2020 because of the operational efficiency gains realized when managing pandemic and post-pandemic call-in orders. Now retailers, accounting firms, real estate managers, transportation & storage, automotive dealers & suppliers, and medical providers use Hyfin’s robust platform to reduce their Accounts Receivable efforts and collect payment securely the same day.

The Hyfin platform also supported line busting in Kiosks by allowing customers to scan a QR code, tap an NFC, or enter their mobile number to receive a text message. The merchant is then notified of the order and payment in real-time so that in-store orders can be processed more efficiently and ensure customer satisfaction.

“Because our platform is web-based and accessible from any internet connected device, home service providers and field technicians can provide an invoice and request payment without additional hardware or assistance from the accounting team/ dispatcher,” says Brett Karlin, VP of Hyfin.

Hyfin’s ability to help businesses get paid faster and more securely, irrespective of the size and industry, is a real game-changer and make Hyfin a reliable partner in today’s contactless payment-first world.

Share this Article:
Top 10 Payment and Card Solutions Companies – 2022
Hyfin

About Hyfin

Company
Hyfin

Headquarters
Lenexa, KS

Management
Brett Karlin, VP

Description

Hyfin is a robust contactless payment platform that allows businesses to get paid easily and efficiently through multiple channels. It’s a white-labeled, intuitive SaaS payment solution specifically built for enterprises and can also be tailored to address the needs of SMBs.