Payably, CardConnect Link mPayments To SME Accounting

Payably, a mobile payments solution that integrates into QuickBooks, has announced a new partner, CardConnect, to enhance its offering.

In an announcement Monday (July 24), Payably said it will integrate CardConnect‘s payment processing technology into its own mobile payments platform, used by SMEs to accept mobile payments and to integrate payment data into their own accounting solutions. According to Payably, the tie-up will lead to faster on-boarding, processing and receipt of payments for small businesses.

“CardConnect’s recent focus has been on attracting innovative partners and developing our strategic relationships with products like Payably,” said Angelo Grecco, CardConnect’s chief business development officer. “Through these partnerships, we are able to better service our SME customers both directly and indirectly.”

According to the announcement, though Payably offers a platform to enable SMEs to accept mobile payments, its core focus is on its Software-as-a-Service-based platform operating on the back end to link transactions into business accounting platforms and provide insight into cash flow and performance. The tool is linked with QuickBooks Online to avoid manual data entry and provide real-time analytics, the company said.

“Our partnership with CardConnect ensures our customers are still receiving the best in accounting integration and analytics reporting, while also providing them with access to best-in-class payments technology – meaning quicker transactions and increased security and data breach protection,” said Payably’s cofounder Steven Shollenberger in another statement. “This partnership supports our key philosophy for Payably – be the best at what we do well and integrate the technologies that other companies have already perfected into our platform to alleviate the administrative burdens placed on small business owners, allowing them more time and resources they can reallocate to growing their businesses.”

Payably also announced changes to its subscription offerings to small businesses, dividing up its services into three subscriptions. Payably NOW is the unit for which CardConnect provides processing services, while Payably SYNC is a mobile POS app and Payably INSIGHT works with the aforementioned two services to provide real-time financial reports.