Vertical Market SaaS
Global payments revenue is expected to reach $3.3 trillion by 2031. By bringing commerce online, the COVID-19 pandemic accelerated growth in digital payments. Global cashless payments are projected to grow by 80% from 2020 to 2025, with the fastest growth expected in the Asia-Pacific region, followed by Africa. This growth is reshaping payment systems on both the front and back ends. Payments companies are rethinking their payment strategy, with a lot of them choosing to layer on additional services like payroll, issuing, lending, and insurance, among others.
Finix is a payment infrastructure platform that gives businesses an alternative way to own, manage, and monetize their payments experience without the expense of building an in-house system from scratch and seeks to lower barriers to entry through developer-friendly API integration. SaaS, marketplace, and ecommerce platforms use the Finix API and dashboard to accept payments quickly and eliminate manual workflows. Bringing payments in-house has the potential benefits of increase revenue, reduce costs, build a better customer experience, and enhance retention.