Technology Integration, Business Acceleration and the Future of Payments
Born out of the transformation of Priority to a publicly traded enterprise, the Integrated Partners division is a relative newcomer to the family: but shows incredible promise for the future.
As one of the fastest-growing segments of the payments ecosystem, integrated payment solutions provide an opportunity for Priority to transcend the realm of traditional merchant services and leapfrog into a brave new world of software-based transaction technology products and services. The Integrated Partners division has been purpose-built from the ground up to supply the resources that ISVs (Independent Software Vendors), third-party integrators and progressive-minded merchants need to leverage the full range of software integrated payment options available via Priority’s proprietary payments cloud: Vortex.
In addition to providing Plug-Ins, Libraries, SDK’s and other high-utility resources, the Integrated Partners team also offers bespoke consulting and development services; enabling our enterprise to address the specific business requirements of prospects and partners to create solutions that tap into the lucrative stream of payments and payment-adjacent services.
This operating entity also contains our in-house Asset Accelerator. The Accelerator is home to portfolio assets of Priority Technology Holdings and is responsible for moving these growing businesses to the point they become part of the larger payments ecosystem. Additionally, the Accelerator can provide payments-focused development resources, components of payments technology or guidance and assistance to third parties with aligned interests. Included in the early “class” of accelerating assets are familiar names like e|tab and PayRight, along with new and notable additions such as RadPad, Landlord Station and CUMULUS. Each of these businesses focuses on a specific industry vertical (e.g., Hospitality, Health Care, Real Estate), but all share common resources in our technology development teams; providing economies of scale and the change to share innovation and novel solutions with one another.
As one of the fastest growing segments of the payments ecosystem, integrated payment solutions provide an opportunity for Priority to transcend the realm of traditional merchant services and leapfrog into a brave new world of software-based transaction technology products and services.
e|tab has gained new momentum in the recent past with the efforts of Joe Harrington and his “White Glove” implementation team driving new adoption while taking significant work off our partners in the ISO/Agent, by providing a turnkey solution from the point of referral to successful deployment. Excitement for the program is growing, witnessed by the excellent turnout in recent Webinars and new numbers posted by partner offices. Additionally, our partners at TSYS are looking at a rollout in their own portfolio of hospitality merchants, which will create a massive opportunity to grow this asset.
PayRight has continued to refine both their technology and their sales approach, making great headway in both their core business and the Third Party Payer (“TPP”) business space. The team, lead by Jim Bridges, has carved a respectable niche in the Home Healthcare space, as well as budding business with some key vertical markets brought to the table by ISO/Agent partners. Like e|tab, PayRight has garnered the attention of our partners at TSYS and has been in discussions with their revenue line leaders regarding a rollout of tailored programs for their Healthcare channel. Lastly, talks have also begun with some industry-leading players in Revenue Cycle Management to make PayRight a part of their larger solution. We believe the future is looking very bright for healthcare payments optimization.
RadPad and Landlord Station came into the organization in the summer of 2018 and were introduced at the most recent RoadShow in Nashville. These two technology platforms allow small- to mid-sized landlords and property managers to access tools normally only available to large enterprises. What’s more, enabling our FI partners to introduce these solutions as value added services to their merchant base strengthens relationships with those customers – which, in turn, strengthens Priority’s relationships with this important referral network. Plans are being laid for even bigger ventures in the very near future – stay tuned for updates!