Kevin Hill, PresidentReliaFund makes payments simple for software companies that are offering core business solutions to global industries. As an early adopter of Automated Clearing House (ACH) framework, ReliaFund takes care of the all the important aspects of payments, allowing software companies to provide additional value to their clients. Besides providing the right tools and the developers who are expert at integrating payments into business software, the company also offers inventive payment APIs to software companies, helping them to support their client’s payment processes. “We support companies of all sizes, from small organizations that may use QuickBooks type accounting packages to large enterprises with enterprise platforms for payment processing,” says Kevin Hill, president of ReliaFund.
ReliaFund is driven by the idea of bringing payment-related information to the fingertips of a business. By partnering with software providers, the company allows businesses to not only save cost due to unnecessary payment processing but also avoid fraud. Being in the industry for about two decades, ReliaFund has been simplifying payment processing for various companies, from in-house day care centers, to national companies. In one instance, they have assisted a large propane distributor to eliminate cash payments and shift to a completely electronic payment processing model saving them $250,000 a year. “We not only delivered cost savings but also gave them the technology they needed,” says Hill.
At the outset, the company analyzes client’s current processes and recommends the most suitable payment solutions to reduce risk and boost efficiency. They offer connectivity to virtually every payment type and banks while allowing them to accept web payments, and gain real-time payment insight. With complete automation of payment processes, clients can benefit from enhanced control and cost savings. ReliaFund also provides reporting capabilities to help clients track every stage of payment, starting from the time of initiation of the transaction, to the time of deposit into the bank account. Their expertise spans across a wide array of payment processing platforms like ACH, credit card and Check 21 that enhances client’s payment mechanisms.
We take care of all the major areas of the payment processing while making security and innovation much easier, allowing developers to focus on other aspects important for their business lines
Further, their APIs integrate with client’s existing software to compile data from various locations.
The company is moving ahead with its motto of ‘helping companies manage time, money, and risk by making payments easy. ReliaFund demonstrated this with a compelling use case for a large medical software solution provider that required a payment processing vendor for their medical software. The client approached ReliaFund to assist them with their needs. Within a few weeks’ time, ReliaFund helped the medical software client to navigate through the various toolsets and massive data to select the right tools to achieve their goals. “Because we are an ACH processor at the core, we simplify payments processing. We are a one-stop-shop for payment processing providing— solution, expertise, and support,” says Hill.
ReliaFund is constantly working to meet or exceed the changing regulatory landscape. The company is taking a lead in the payments space by actively participating in Third Party Payment Processors Association, an association representing payment processors aimed at promoting compliance to achieve payments integrity. ReliaFund is also keeping a close eye on the upcoming tools and methodologies within the developer side in the banking space and B2B payments. Additionally, Hill also points out to the recent advances in the ACH world concerning same-day payments that are opening up new avenues for transaction settlements without delay. “We offer our clients options for same-day payments to accelerate payments and deposits without increasing risks,” concludes Hill.