How PaySimple works

What is PaySimple

PaySimple is a cloud-based platform that provides small and medium-sized businesses with tools to manage their payment processing, billing, and customer management needs.

It offers a comprehensive suite of services designed to streamline and automate various aspects of running a business, particularly in the areas of payment acceptance, invoicing, recurring billing, and online sales.

PaySimple allows businesses to accept payments through multiple channels, including credit cards, e-checks (ACH), and online payment gateways. It provides a virtual terminal that enables businesses to process payments in person, over the phone, or online.

Additionally, PaySimple offers online invoicing and billing features, allowing businesses to create professional-looking invoices, send them to customers, and track payment status.

One of the key features of PaySimple is its ability to set up and manage recurring billing. This feature is especially useful for businesses that have subscription-based or membership-based services. PaySimple automates the recurring payment process, ensuring that customers are billed on time and providing them with a convenient and seamless payment experience.

The platform also includes customer relationship management (CRM) functionalities, allowing businesses to store customer information, track customer interactions, and manage customer communication.

PaySimple integrates with various third-party applications, such as accounting software, CRM systems, and e-commerce platforms, to provide a more holistic solution for businesses.

Overall, PaySimple aims to simplify payment processing and billing for small and medium-sized businesses, providing them with the tools they need to efficiently manage their financial operations and improve their cash flow.

The history of PaySimple

PaySimple was founded in 2006 by Eric Remer and Allen Wolff as a payment processing company based in Denver, Colorado, United States. The company’s initial focus was on providing a simple and user-friendly platform for small businesses to accept credit card payments. Over time, PaySimple expanded its offerings to include a range of services aimed at helping businesses manage their payment processing, invoicing, and customer management needs.

In its early years, PaySimple gained recognition for its innovative approach to payment processing. The company introduced features such as recurring billing and electronic invoicing, which were particularly beneficial for businesses with subscription-based or recurring revenue models. This helped PaySimple stand out in the market and attract a growing customer base.

In 2011, PaySimple secured $16 million in funding from investors, including the venture capital firm, Blumberg Capital. The investment allowed the company to further develop its technology and expand its services. PaySimple continued to enhance its platform, adding new features and integrations to meet the evolving needs of its customers.

In subsequent years, PaySimple continued to experience steady growth and gained recognition as a leading provider of payment processing solutions for small businesses. The company expanded its customer base across various industries, including professional services, healthcare, fitness, and education.

In 2017, PaySimple announced a strategic partnership with Alpine Investors, a private equity firm specializing in software and services businesses. The partnership provided additional resources and support to fuel PaySimple’s growth and expansion plans.

In recent years, PaySimple has continued to evolve its platform and adapt to changing market dynamics. The company has focused on enhancing its integrations with other business software systems, such as accounting software, CRM platforms, and e-commerce platforms, to provide a more comprehensive solution for its customers.

How PaySimple works

PaySimple is a cloud-based platform that provides businesses with a range of tools and services to manage their payment processing, invoicing, and customer management. Here’s an overview of how PaySimple works:

1. Account Setup: Businesses start by creating an account with PaySimple. This involves providing basic information about the business and setting up the necessary configurations for payment processing.
2. Payment Acceptance: PaySimple enables businesses to accept payments through various channels. This includes credit cards, e-checks (ACH), and online payment gateways. Businesses can use PaySimple’s virtual terminal to process payments in person, over the phone, or online. PaySimple also offers website integration options for businesses that want to accept payments on their websites.
3. Invoicing and Billing: PaySimple provides online invoicing and billing features, allowing businesses to create professional-looking invoices and send them to customers. Businesses can customize invoice templates, add their branding, and include payment terms and instructions. Customers receive the invoices via email and can make payments directly from the invoice using the provided payment options.
4. Recurring Billing: PaySimple offers automated recurring billing capabilities, which are especially useful for businesses with subscription-based or membership-based services. Businesses can set up recurring payment plans for their customers, specifying the billing frequency and amount. PaySimple automatically charges the customers’ preferred payment method on the specified dates, streamlining the billing process and ensuring timely payments.
5. Customer Management: PaySimple includes customer relationship management (CRM) functionalities, allowing businesses to store customer information, track customer interactions, and manage customer communication. This helps businesses maintain a centralized database of their customers and provides insights into customer behavior and payment history.
6. Reporting and Analytics: PaySimple provides reporting and analytics tools that give businesses visibility into their payment data. Businesses can generate reports on transaction history, revenue, customer trends, and more. These insights can help businesses make informed decisions and optimize their payment processes.
7. Integrations: PaySimple integrates with various third-party applications, such as accounting software (e.g., QuickBooks), CRM systems, and e-commerce platforms. This allows businesses to synchronize data across different systems and streamline their overall operations.
8. Security and Compliance: PaySimple prioritizes security and compliance to protect sensitive customer data. The platform implements industry-standard security measures, including encryption, tokenization, and secure data transmission. PaySimple is also compliant with Payment Card Industry Data Security Standard (PCI-DSS) requirements.

Overall, PaySimple simplifies payment processing, invoicing, and customer management for businesses. By providing a user-friendly platform and a range of features, it helps businesses streamline their financial operations and improve efficiency in handling payments and billing.

Can PaySimple be trusted

PaySimple has been a trusted payment processing provider for small and medium-sized businesses for over a decade. The company has established a solid reputation in the industry and has served thousands of customers.

There are several factors that contribute to the trustworthiness of PaySimple:

1. Security Measures: PaySimple prioritizes the security of customer data and transactions. The platform implements industry-standard security measures, including encryption, tokenization, and secure data transmission. PaySimple is also compliant with Payment Card Industry Data Security Standard (PCI-DSS) requirements, which demonstrates their commitment to maintaining a secure environment for handling payment information.
2. Longevity and Experience: PaySimple has been operating since 2006, which speaks to its longevity and experience in the payment processing industry. The company has had time to refine its services, adapt to changing market demands, and build a strong customer base.
3. Positive Customer Reviews: Customer reviews and feedback can provide valuable insights into the trustworthiness of a company. While individual experiences may vary, PaySimple has generally received positive reviews from its customers, indicating satisfaction with the platform’s functionality, reliability, and customer support.
4. Strategic Partnerships: PaySimple has formed strategic partnerships with reputable companies and investors, such as Alpine Investors, which can provide further validation of its credibility and stability.

As with any service provider, it’s always a good practice to conduct your own research and due diligence before making a decision. Consider factors such as the specific needs of your business, the terms and conditions of the service, and the overall reputation of the company. It may also be helpful to reach out to PaySimple directly to address any specific concerns or questions you may have.

Does PaySimple charge a fee

Yes, PaySimple charges fees for its services. The specific fees and pricing structure may vary depending on the type of account, the services utilized, and the volume of transactions. Here are some common types of fees that businesses may encounter when using PaySimple:

1. Transaction Fees: PaySimple typically charges a per-transaction fee for each payment processed through its platform. The fee may vary depending on the payment method used, such as credit cards or e-checks (ACH). Transaction fees are typically a percentage of the transaction amount or a flat fee per transaction.
2. Monthly Fees: PaySimple may charge a monthly subscription fee for access to its platform and services. This fee covers the use of the PaySimple system and its various features, such as payment processing, invoicing, and customer management.
3. Additional Service Fees: PaySimple may have additional fees for certain services or features, such as recurring billing, advanced reporting, or integrations with third-party applications. These fees are typically optional and may be charged on top of the base subscription fee.

It’s important to note that the specific fee structure and pricing details can vary, and businesses should refer to PaySimple’s website or contact their sales representatives for the most up-to-date and accurate information regarding fees.