Aliaswire recently launched PayVus, an advanced technology platform designed to help small and midsize business owners reduce costs, obtain financing, manage cash flow and increase sales. In addition to providing access to working capital, the solution supports a range of business management functions within a single platform. A secure dashboard provides participating merchants with a real-time, consolidated view of accounts receivables, accounts payables, transaction processing and lines of credit activities, company representatives stated.

“Payment card acceptance and access to capital are critical requirements for today’s business owners,” stated Scott Goldthwaite, chief operating officer at Aliaswire. “The PayVus card issuing and processing platform provides reduced rates and a small business line of credit.”

Enrolled PayVus merchants receive a commercial credit card, Goldthwaite stated. While processing payment card transactions, PayVus will split-settle daily batches between a merchant’s credit card and regular bank account. Deposited funds are posted as credit balances on the credit card account and become available for the merchant’s immediate use, he noted.

Benefits for acquirers, ISOs

Aliaswire stated that PayVus maintains a complete record of funds settlement and revenue share. Participating ISOs receive residuals for all funds deposited to a merchant’s PayVus card. At their discretion, acquirers can use these residuals to offset or reduce a merchant’s processing fees. The company noted the following additional benefits for ISOs and acquirers:

  • Secure, compliant: The PayVus platform is PCI DSS-compliant and uses the latest, most up-to-date information security standards.
  • Optimized user interface: Designed for simplicity and ease-of-use, the platform provides a secure web portal for viewing real-time settlement and transaction activity.
  • Turn-key solution: ISOs and acquirers can manage and automate funds settlement between a merchant’s PayVus credit card and bank account. The platform will also automatically manage card issuing, funds settlement, residual payments and distribution of savings to each merchant.
  • Processor-agnostic: PayVus works with any payment processing system and acquirer. Funds are distributed post-settlement, with no impact to daily transaction processing.
  • White label, cobranding options: ISOs and acquirers can brand PayVus web portals and small business credit cards, increasing their visibility and brand awareness in the merchant community.
  • Enhanced reporting tools: The platform provides detailed transaction data and revenue share reporting.
  • Comprehensive support: PayVus provides program management and support throughout the life of the program.

Benefits for payment card issuers

Issuers can benefit by combining small business card issuing and merchant acquiring within a single platform, Aliaswire representatives noted. In addition to deriving increased interchange revenue, they can expand their portfolios of small business card product offerings. The PayVus platform’s flexible design and easy integration options enable issuers to implement it according to their individual small business acquisition strategies.

“We’re seeing interesting behaviors,” Goldthwaite said. “For many merchants, their merchant acquirers have become their card issuers and the bank for their deposits. This makes PayVus a great product fit and opportunity for emerging markets.”

Goldthwaite said the PayVus platform can be implemented to support multiple types of card issuing and acquiring programs, including the following:

  • Dynamic line of credit: Establish a secured credit card backed by merchant’s receivables from credit card processing.
  • Business management solution: Provide small business owners with a fully integrated accounts receivable, accounts payable and line of credit management solution, using the credit card as a primary transaction account.
  • Personal card conversion: Convert the former use of personal and small business cards, with higher interest rates, into a cost-effective, professional, small business or commercial card.

    Seethe article originally published in The Green Sheet here.