Payments Companies Unveil ‘Embedded Payments Bill of Rights’

A group of payments companies have created what they call the Embedded Payments Bill of Rights, designed to convince players in the payments ecosystem to conduct themselves fairly when working together.

According to a Wednesday (Sept. 7) news release, the bill states that all parties in the embedded payments ecosystem have the right to expect payment vendors to follow the principles of transparency, quality of care, equality, flexibility, greater control, portability, ethical treatment and freedom.

“No matter how big or small, every company that wants to embed payments into their business deserves transparency, respect, and the freedom to be able to control their own success,” said Todd Ablowitz, co-founder and co-CEO of embedded payments software firm Infinicept and a lead contributor to the bill.

“The industry has evolved, and payments providers and processors must evolve too,” he continued. “It is our intention that the Bill of Rights serves as a guidepost for all organizations looking to create their own payments strategy in today’s complex environment.”

Launched at Infinicept’s annual “Ignite” conference, the Embedded Payments Bill of Rights has gotten support from companies including Authvia, SumUp and Valpay, the release said. The bill’s other founders include Aben, Handpoint, Oasis Consulting LLC and WorkWave.

Matt Doka, chief technology officer of SumUp North America and a contributor to the bill, noted that many software companies “struggle to build and retain control over their payments strategy and go to market when processors push for highly restrictive terms and focus on serving their own agendas over their clients.”

Last month, Infinicept launched a single, open payment operations solution to let customers network with any processor or alternative payment rail they choose.

Read more: Infinicept Develops Open Payment Operations Solution for Embedded Payments

Known as Infiniport, the solution allows payment facilitators, payments companies and software platforms with embedded payments to “bring their own processor” to their payments and business initiatives.

“Infiniport is one of the most strategic go-to-market initiatives we have launched,” Infinicept Senior Vice President of Growth Michael Bradley said at the time. “With this capability, we are taking a massive step towards enabling our vision of empowering organizations to take control of their future through embedded payments.”