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NewProduct

• Payfac solution providers: Payrix creates a technol-
ogy backbone for payment facilitators, to help them
automate tasks, simplify onboarding and compliance
and accelerate their growth.

Company: Payrix LLC Multi-tiered resources, support
Product: Payrix Payrix provides modern APIs for clients and merchants,
Website:www.payrix.com and brandable products for payment facilitators. The
Contact: sales@payrix.com company's multi-layered support services include the
following resources:
Full-service payment platform • Dedicated relationship managers: Payrix partners
receive personalized support from dedicated account
specialists who are familiar with their business re-
for merchant aggregators quirements and can react quickly to requests, calls
and emails.
• Business continuity: Cloud-based back-up for inte-
ayrix LLC, established in 2015 and headquar- grated solutions creates redundancy and eliminates
tered in Hollywood, Fla., has created a payment downtime. The company said that tablet POS systems
facilitation platform designed to enhance, sim- can be replaced and back in service in minutes.
P plify and automate numerous tasks related to
merchant account aggregation and acquiring. Company • Secure portal: Payrix users can manage access to the
founders Benny Silberstein and Boruch Greenberg saw a secure Payrix portal by creating unique log-ins and
need for a strong, agile platform capable of supporting permission levels for administrators, agents, risk and
numerous aggregator models and use cases, and thus compliance managers and merchants.
devised a flexible, scalable framework and technology • API library: Programmers and developers can use
stack. Payrix uses artificial intelligence and automated the Payrix REST API library and test environment to
technologies to enhance payment processing tasks, from create their own forms and manage payment-related
risk assessment and anomaly detection to account on- tasks. The APIs support all formats, including XML,
boarding and regulatory compliance. Embedding pay- SOAP, JSON and FORM. For example, aggregators can
ments into intelligent business platforms helps service use APIs to create embedded payment forms, tokenize
providers reduce complexity and scale their companies, the payments or board new merchants.
company noted. • Tokenization: Developers can tokenize customers'
"Payrix brings white label payfac technology to ISOs and payment information using the Payrix API to create a
app developers that allows them to stay focused on their Token ID to process payments, eliminating the need to
products without worrying about payment technology," re-enter the payment information.
stated Payrix co-founder Benny Silberstein. "We built
it from A to Z without relying on rails or gateways; this • Embedded payment forms: Optional, embedded pay-
enables our partners to integrate with third party service ment forms enable developers to securely process
providers without depending on them." "I chose to work payments by keeping cardholder data out of Pay-
with Payrix rather than build my payfac platform from ment Card Industry Data Security Standard (PCI DSS)
scratch," added Lawrence Pross, Managing Member at Taxi scope. Developers can also create their own forms, us-
Charge LLC. "It reduced costs and time-to-market, and ing the Payrix API.
improved efficiencies by facilitating payments from taxi • Simplified account onboarding: Payrix partners can
fleets instead of individual drivers." use Payrix APIs to simultaneously onboard merchant
accounts on both their platforms and Payrix, eliminat-
Supports all aggregators ing the need for double entry.
The Payrix platform is built to support a variety of business • Risk integrations: Accepting credit cards from mul-
models and use cases. Following are several examples: tiple businesses could open a company to liability for
• Ecommerce marketplaces: Payrix can simplify new fraud. Payrix provides a full suite of integrations to
account onboarding for marketplace merchants, while manage and minimize risk.
enabling them to share fee income revenue from sub- • Level 1 PCI compliance: Payrix is Level 1 PCI
merchant accounts. (Payment Card Industry) compliant to keep payment
• Integrated Software Vendors (ISVs) and software- card data out of merchant scope.
as-a-service (SaaS) providers: Payrix can help ISVs • Regulatory compliance: Payfacs can use the Payrix
and SaaS providers efficiently manage payments by compliance admin tools to maintain state and federal
fully integrating commerce into their apps and ser- banking regulation compliance, including KYC and
vices. AML regulations.

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