Industries
Warranty Providers
ConnexPay allows warranty companies to get instant access to incoming customer premium payments and make outgoing supplier claims payments, all inside a single platform.
The problem
The problemWarranty providers need make claims payments to suppliers quickly and accurately, while also reconciling those payouts in a timely fashion. Legacy systems and working with multiple providers make this a challenge. Plus, the cost to accept payments and make payments can be a drain to your bottom line.
The solution
The solutionConnexPay’s unified payments platform allows warranty companies to accept incoming customer premium payments and make outgoing supplier payments in real time. No waiting to get access to your incoming customer funds. Plus, with ConnexPay, you’ll get guaranteed lower merchant processing fees and earn industry-leading card rebates on supplier payments, ultimately boosting cash flow and improving your bottom line.
1. Accept customers’ premium payments.
2. Incoming payments are authorized and money immediately available in real time.
3. Use those incoming customer premium payments to generate real-time payments to suppliers, all inside the same platform.
4. After the outgoing payment processes, access robust end-to-end transaction details and automated reconciliations inside the ConnexPay platform.
5. Receive cash rebate monthly on any virtual card payments made to suppliers.
Key benefits
Savings & revenue
- Immediate access to incoming customer premium payments
- Guaranteed lower merchant processing fees
- Increased revenue through industry-leading virtual card rebates
- Patent-pending Intelligent PayOuts technology chooses and automatically issues the type of card to provide the maximum rebate
All-in-one payments platform
- One contract with a single reconciliation
- Ability to make payments to suppliers via virtual cards and ACH
- Working capital/available funds not impacted until supplier payment settles
- No prefunding or lines of credit required
- No processing caps or financial commitments
- Ability to share complete customer data with downstream suppliers for fulfillment
- Make payments in some of the world’s leading currencies, such as USD, EUR, GBP, CAD
Fraud prevention & reporting
- Automated reconciliation, with every customer transaction tied to its supplier payment as well as any refunds or voids
- Integrated fraud prevention for every transaction
- User-friendly chargeback management system with a dedicated team to help you win chargebacks
- Robust reporting and analytics
Easy to get started
- Rapid implementation with no setup fees
- Easy API documentation
- Webhooks to notify you of transaction-related events
- SDKs to ease the integration of payment acceptance on your website
- 60+ BINs across Visa and Mastercard
