REPAY and Worth partner on KYB and underwriting tools

REPAY offers payment processing solutions tailored to industries with unique transaction processing requirements. The company’s proprietary, integrated payment technology platform focuses on simplifying electronic payments for clients, while simultaneously improving the overall experience for both consumers and businesses.

REPAY's integration with the Worth platform will facilitate quicker merchant onboarding and the enrolment of high-volume accounts payable vendors. By using over 1,100 data points from Worth, this integration aims to ensure accurate, transparent, and timely decision-making for underwriting and onboarding processes. The tool will be implemented across both the consumer and business payments sectors to increase merchant and vendor onboarding efforts, respectively.

Officials from Worth stated that collaborating with REPAY enables the company to offer better data and resources to upgrade their merchant and vendor onboarding processes. Worth's goal to democratise data and ensure decision transparency for enterprises aligns with REPAY's objectives. With its improved, data-driven strategy, it can expedite REPAY's revenue generation for new implementations.

Furthermore, representatives from REPAY declared that the partnership with Worth is expected to simplify the merchant onboarding process while effectively addressing KYB risk through the platform's smart data. By incorporating Worth's advanced financial tools into its merchant underwriting and vendor onboarding procedures, the company can efficiently and securely integrate businesses into the REPAY ecosystem.

REPAY past developments

In February 2024, REPAY announced an improved technology integration for Sage Intacct, increasing its accounts receivable (AR) and accounts payable (AP) payment solutions. This integration complemented existing connections with Sage 100, Sage X3, and Sage 300, providing a unified platform for B2B payment needs. Businesses accepted payments via ACH or credit card on multiple platforms and made secure vendor payments using digital methods like virtual cards, reducing reliance on paper checks. This automation aimed to improve workflows and upgraded efficiency for accounts payable teams.