Payably bringing process automation to small business

When you are offering a technology to small business owners for the first time, there’s plenty of steps to consider, Robert Fifield said.

Mr. Fifield is the COO of Avalon Solutions Group, the company behind Payably, a fintech platform designed to focus on helping small business owners accept mobile payments wherever they are. Payably recently announced a deal with payment processing and card technology company CardConnect that will see CardConnect technology integrated into Payably’s platform. It allows Payably to both simplify and accelerate every step of the mobile payment process, from onboarding through receipt.

“We’re really excited about the deal with CardConnect,” Mr. Fifield said. “We pride ourselves at having Payably help that small business owner and focus on them.”

That focus includes making the entire payments process as simple as possible, Mr. Fifield explained. Within two or three clicks the merchant should be able to capture a payment. Even though there are plenty of steps that make that happen on the back end, the trick is to execute them without the merchant even noticing. And that took plenty of practice before Payably was introduced, Mr. Fifield admitted.

“We have a philosophy here that I repeat quite often – do it once and do it right. That’s why we tested the process over and over before we launched.”

That painstaking process occurred as Payably prepared to integrate QuickBooks Online, Mr. Fifield said. The design team repeatedly walked through the entire process, modifying it along the way as they determined how many clicks it would take a merchant to complete a transaction.

“We didn’t want to disrupt the business at all,” Mr. Fifield said. “We wanted them to use QuickBooks the way they want, then we pick it up there and take it through Payably.”

Robert Fifield

While Payably was initially an all-in-one platform, it now offers three distinct components that can be bundled according to customer need. Payably NOW is a chip card and NFC payment-compatible mobile payments app. Payably SYNC is a mobile POS app that syncs data between mobile payment transactions and QuickBooks Online in real time. Payably INSIGHT works with the other two to generate current sales, revenue and customer reports.

NOW provides small business owners with a platform to accept and process mobile payments. The SaaS-based technology platform  behind SYNC also automatically connects the transactions with accounting platforms to complete the transaction and produce real-time business analytics that appear in QuickBooks Online.

Thanks to the technology, small business operators receive excellent processing rates realized through the cumulative power of Payably’s client base, Mr. Fifield added.

“The piece we’re really excited about is not only do we offer ease and simplicity, but we are able to tap into community pricing. We are offering not only competitive rates, but we are doing something most would never think of doing. The more that come into this community, the more we can buy down rates.”

In order to access the rates, merchants have to adopt Payably, which will only occur at scale if it is simple to use, Mr. Fifield said. That, and their focus on improving the entire transaction process and all related components, separates Payably from its competitors, Mr. Fifield believes.

“People pay lip service to (other aspects) but focus on what’s important to them, and that’s the payment. Payably truly helps business owners grow their business, to sell that thing that made them start the business in the first place.”