London, UK - February 22, 2024 – Unipaas, the leading Payfac-as-a-Service provider empowering SaaS companies and marketplaces to deliver their own branded embedded payment solutions for businesses on their platforms, today announced the launch of its intelligent payment assistant solution, AI Assist. This solution leverages AI technology to enhance the ease and efficiency with which businesses get paid. Fully integrated into Unipaas’ one-stop solution for platforms, the AI solution makes recommendations for businesses to select payment methods expected to drive the fastest customer payment.
Late payment of invoices is a pressing challenge for businesses, particularly impacting small and medium-sized businesses (SMBs). A third of payments to small businesses are late, according to the UK Office of the Small Business Commissioner. A major reason for delaying invoice payment is that payers are not offered the option to pay digitally and with a convenient payment method. But determining which payment method will ensure prompt e-invoice settlement for each specific client is not simple. Unipaas’ AI Assist solution addresses this problem by recommending the payment method most likely to be accepted by each customer, based on historical data. Payment services powered by Unipaas enable businesses to offer a wide choice of traditional and alternative payment methods, including all internationally accepted cards (Visa, Mastercard, and American Express), direct debits, and bank transfers. By tailoring payment method choices to fit each customer preference, businesses achieve quicker payment of their e-invoices and significantly enhance the overall satisfaction of their payers.
For merchants currently using a SaaS platform payment solution powered by Unipaas, AI Assist requires zero additional set-up time, as it is part of Unipaas’ suite of managed payment services. New merchants wanting to get started, will experience smooth implementation as Unipaas manages all operations in the background, from onboarding and risk checks to fast payouts.
“Unipaas is designed to be the heartbeat behind platforms’ payment services. We support SaaS and marketplace companies of any size to unlock more growth potential by strengthening their relationships with their customers and expanding on added value services within their trusted ecosystem. AI technology will disrupt embedded payment services and we will help platforms and marketplaces leverage this unique opportunity,” says David Avgi, CEO of Unipaas.
"Extending its partnership with Unipaas, IRIS Software Group is the first payment platform provider to implement AI Assist. Paul Onions, Product Director at IRIS Software Group adds, "At a time where digitalisation, automation, efficiency and customer satisfaction are key, the addition of AI Assist into IRIS Pay, our embedded payment solution powered by Unipaas, is extremely innovative. The AI Assist solution directly addresses the critical pain point of late payments for SMBs, empowering them with smarter solutions that not only enhance their cash flow but also elevate the overall payment experience for their customers. This collaboration with Unipaas aligns perfectly with our commitment to delivering advanced, value-driven solutions to our customers."
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