Backstage with Steve Wilson of Payrix | Worldpay for Platforms
Please state your name, title, company, and email address to provide to prospective partners and customers interested in receiving more information.
How are you different than other brands in your space?
As a part of Worldpay for Platforms, Payrix leverages the global scale and the breadth of expertise the Worldpay team gained in pioneering the PayFac® model. Payrix is different because we work closely with software partners to pair them with the best–fit technology that not only works for them today but also in the future. We meet our customers where they are with a white-glove, collaborative service model from solutioning and implementation, through launch, go-to-market strategy, optimization and ongoing risk management.
How would you describe your value proposition to prospective customers and channel partners?
B2B software companies have realized they can generate additional revenue beyond subscriptions and provide a more comprehensive solution to their users by integrating or embedding payments with their platforms. With Payrix as a part of Worldpay for Platforms, we can deliver the exact payment solution a software company needs — no matter where they are in their business lifecycle.
Payrix is an Embedded Payment solution that puts software companies in the driver’s seat. We help customers create and own the most frictionless payments experience for merchants on their platforms, leading to a stickier and more profitable user base.
What recent challenges have your company’s leadership faced and how did you overcome them?
When FIS acquired Payrix to strengthen the set of Worldpay suite of solutions for software companies, it put us in a position to truly meet SaaS companies wherever they are in their payments journey. It opened the door of opportunity for how to truly tell that story and value prop in a compelling way. We also had to develop a plan to scale impactfully while maintaining momentum in the market, which was challenging, but was made possible by having the right team to execute.
What recent milestone have you achieved and why is it significant?
As FIS CEO, Stephanie Ferris shared on our last earnings call, “our Payrix acquisition is hitting on all cylinders. We brought that capability in-house, which has really helped solidify our Worldpay for Platforms offerings for software companies that want to either integrate payments, embed payments or become a PayFac.”
This gives us a full suite of offerings designed for software companies serving SMBs, all through Worldpay for Platforms. You can see it’s a big part of the e-commerce growth story that we’re seeing in the market through the volume growth on the Payrix platform.
What near-term opportunities will 2023 present to you and your team?
With the global scale and expertise we gain by being part of Worldpay, we have the opportunity to leverage proprietary products and put those on the product roadmap for our Payrix customers. For instance, security is such an important part of the payments ecosystem and with Worldpay being a pioneer in developing next-gen payment security and intelligence, Payrix will be able to leverage additional tools and technologies from the Worldpay product suite that will bring even greater value to Payrix customers and their merchants.
What’s a key trend for your industry in 2023, and why do you think it’s important?
I think for us it’s about empowering our customers to bring more and more into their software. It’s not just about payment acceptance – it’s about delivering the solutions they need, at the right time to bring more utility into the software.
We see more and more demand for the friction-lessness of the consumer buying experience to translate into B2B fintech. Making the user experience as seamless as possible — almost invisible, is trending in our world.