With the integration of these capabilities from Fiserv, a global provider of payments and financial services technology, the capabilities of Handle’s construction software for material suppliers and specialty contractors will include secure payment acceptance, Handle said in a Wednesday (April 12) press release.
“By integrating industry-leading payment capabilities into the Handle software platform, we are able to modernize how businesses across our industry manage payments,” Handle CEO Patrick Hogan said in the release. “Our customers can now leverage the power of Fiserv payment technology and industry expertise alongside the power of Handle — facilitating both payment compliance and payment efficiency on every construction project.”
PYMNTS research has found that construction firms are increasingly turning to digital payment solutions to increase cash flow and clear accounts receivable (AR) faster and cheaply.
Digital payments technology is alleviating some of construction firms’ headaches such as getting paid on time and getting paid quickly, according to “Building Better Cash Flow in Construction with Digital Payments,” which is part of the “B2B and Digital Payments Tracker® Series,” a PYMNTS and American Express collaboration.
The report also found that almost half of the middle-market professionals in the construction industry said investing in technology was a top priority over the next 12 months — and four in 10 are increasing their budget specifically to add technology — as they seek the speed and operational efficiency of digitizing.
Handle’s addition of Fiserv capabilities includes integrating with CardPointe Gateway and other PCI-compliant tools via Fiserv’s integrated software vendor (ISV) engine, according to the press release.
The new payment processing capabilities will join Handle’s existing solutions for managing credit and payment rights for credit and finance teams in the construction industry, the release said.
“Construction payments are typically over complex with multiple parties involved and a plethora of compliance documents, lien waivers and more needing to be exchanged during the payment process,” Handle said in the press release. “Handle currently solves the aforementioned and will now be able to streamline construction payment processing as well through the Fiserv integration.”