Arlington, VA – November 20, 2008 – Smart Payment Solutions (SPS), a full-service payment solutions company that specializes in ACH (Automatic Clearing House) and credit card processing, today announced a new partnership with SofterWare Inc., a leading provider of administrative software to manage child care centers, nonprofit fundraising, camps and conference centers as well as public and private schools. The partnership was designed to provide cost-effective and efficient electronic payment tools for e-check payments made online and via automated pre-authorized debits.
The partnership combines cutting-edge administrative software technology from SofterWare with Smart Payment Solution’s proven virtual payments platform. Smart Payment Solutions provides its services to businesses of all sizes and is well suited for child care centers and other nonprofits looking to reduce accounts receivables, accelerate payment collection and increase cost savings.
“Processing our ACH payments via SofterWare’s integration with Smart Payment Solutions is just fantastic,” said Scott Seip, Senior Account Manager at Day Nursery Association. “It is much easier than our previous payment solution from our bank, and the integration with our accounting ledgers is a huge time-saver, since the transaction amounts are always based on the parent’s current balance and their electronic payment is automatically recorded on their account.”
The SofterWare/SPS payment solution uses a PCI-certified Web-based gateway to transmit all ACH transactions. The virtual terminal eliminates the need to install and manage software and eliminates paper-based invoicing. Aberdeen Research estimates that fully automated companies can save $10.87 per payment – approximately $1.1 million in savings for businesses processing 100,000 B2B payments per year.
“We chose Smart Payment Solutions to provide Electronic Funds Transfer (EFT) processing for our clients because of their proven expertise in efficient ACH payment processing and the fact that they share our strong commitment to customer service,” explained Doug Schoenberg, CEO, SofterWare Inc. “The SPS partnership reflects our ongoing commitment to reduce time spent on administrative tasks and streamline payment processing for our customers.”
“We are delighted to be working with SofterWare. Their software products for recurring payments and online payments have revolutionized how daycare centers and camps collect their fees and how nonprofits collect pledges and donations,” said Matt Whitaker, President at Smart Payment Solutions.
About Smart Payment Solutions
Smart Payment Solutions is a full service payment solutions company that helps corporations and nonprofit organizations increase cash flow and control costs by electronically processing payments efficiently and securely. Headquartered in Arlington, Virginia, with an office in Indiana, Smart Payment Solutions was founded in 2002 and is a subsidiary of Solveras Payment Systems. By employing a highly consultative approach, the company is able to create customized solutions that meet clients’ unique needs. Services include ACH payment processing, credit card processing, check recovery services, remote deposit capture, and virtual terminals. For more information visit www.smartpaymentsolutions.com or call 800-320-7258.
About SofterWare, Inc.
SofterWare, Inc., based in Horsham, Pennsylvania is a leading provider of software to nonprofit organizations, with over 10,000 clients throughout the world. In addition to the company’s DonorPerfect fundraising software, SofterWare also offers software for managing childcare centers, public and private schools, and camps and conference centers. For more information on SofterWare and its products, please visit www.softerware.com. For more information on DonorPerfect Fundraising Software, please visit www.donorperfect.com.