Equiant is a leading provider of receivable servicing technology solutions. Its clients include timeshare, equipment rental, and other portfolio holders in structured finance. For these kinds of customers, the ability to efficiently manage relations with the end-clients in their portfolio is vital.
Equiant provides its customers with the infrastructure needed to manage their portfolios. Both by outsourcing its technology and through outsourced services. One of the key business processes that its technology enables is the processing of payments. That includes critical payments functionality like periodic invoicing and subscriptions.
Payments Are Mission-Critical
The end-clients of Equiant’s customers want to submit payments to service their receivables. So, critical to Equiant’s value is the ability to accept and pass a payment back to the portfolio holder. But integrating multiple payment gateways was both a technical challenge and a distraction from the core value of Equiant’s business model.
“Spreedly is an important part of our application because it lets us process payments individually and immediately via our partner payment gateways,” said Peter Moody, Chief Business Development Officer at Equiant.
Rather than building and maintaining integrations into multiple gateways, the Equiant team turned to Spreedly. By connecting once to the Spreedly payments API, Equiant was able to leverage connections into any of the 120+ gateways that Spreedly supports.
“This allows us to outsource the addition of new gateways and focus on revenue generation,” Peter added.
Ready for the Future of Payments
As new portfolio holders come to Equiant, they don’t need to require their customers to have an agreement with a Merchant Service Provider. And the customer doesn’t need to transition their gateway either. Customers are simply able to come on board fast.
“There was no need to rebuild and maintain a process to support a new gateway,” Peter continued. “Spreedly just worked, giving us more business flexibility.”
Equiant’s work with Spreedly is not just about solving today’s business needs. As customers need additional payment methods, Spreedly is ready.
“In addition to support for cards, Spreedly also supports payments via ACH — that means that Spreedly has effectively future-proofed us,” Peter concluded.