Paya, Paradigm Construct Payments Solution for the Building Industry

The payments and commerce solutions provider Paya is working with the software firm Paradigm to help people along the building industry supply chain collect and process payments in real-time.

The Atlanta-based Paya announced Tuesday (Sept. 7) the launch of Paradigm Payments, which gives contractors, dealers, distributors and manufacturers “greater back-office efficiencies and the opportunity to increase on-site sales.”

“Through our partnership with Paradigm, we’re able to provide our innovative integrated payments solution to more companies in the building industry, as well as in-home service tech professionals,” said Brock Robertson, Paya’s head of partner relationships. “Our integrated payments platform offers increased efficiency and ease-of-use, allowing companies in this space to more easily collect and process revenue and, ultimately, support their bottom-line growth.”

Read more: Paya Debuts eInvoicing Enhancements for Sage

Paradigm product director Matt Davis said the partnership will offer the clients the ability to offer cost-effective, streamlined payment processing, while also adhering to the company’s “vision of simplifying how money moves in this industry.”

Paya provides integrated payments and commerce solutions that help its clients receive and send payments, expedite the receipt of funds and improve operating efficiencies. The company processes more than $40 billion in yearly credit/debit card, ACH and check payment transactions, making it one of the top 20 payment processing providers in the U.S.

Paradigm bills itself as the largest technology platform of its kind, serving customers in the new construction and home improvement sectors, including remodeling contractors, builders, dealers, lumberyards, retailers and distributors.

Learn more: Getting B2B Payments In Construction On The Same (Digital) Page

This industry has traditionally faced challenges when it comes to B2B payments, including fragmentation, Zlein CEO Scott Wolfe told PYMNTS in 2018.

“There is fragmentation in a number of categories,” Wolfe said. “One area of fragmentation is the types of companies involved. You have mom-and-pops, multinationals, lenders, banks, insurance companies — all of which touch the payment process.”