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As we close out 2024, it’s the perfect time to reflect on some of our most impactful collaborations. This year, we were privileged to partner with a diverse range of software platforms, working together to overcome complex money movement challenges, scale operations, and unlock new growth opportunities. From entering new markets to automating high-volume transactions, these case studies showcase the remarkable results and business transformations our clients achieved by integrating VoPay’s advanced payment technology.
Let’s take a closer look at how our Fintech-as-a-Service solution has contributed to our clients' success stories across various industries.
When expanding from Australia to Canada, Wagepay faced a new set of challenges. Canada’s payment infrastructure did not support the real-time disbursements essential to Wagepay’s model, creating hurdles in offering instant wage access. Additionally, navigating Canada’s fragmented regulatory landscape and the need for full payment automation added complexity, threatening to disrupt their well-established business model.
Wagepay partnered with VoPay to address these significant challenges. By leveraging VoPay Instant they achieved the capability to process rapid, real-time delivery of early wage payments. Additionally, eLinx Connect & Pay, our proprietary payment link technology, enabled automated customer onboarding, bank account verification, KYC compliance, and high-volume payment processing. This comprehensive solution empowered Wagepay to uphold its commitment to fast and reliable wage disbursements.
“If we hadn’t partnered with VoPay to enter the Canadian market, we would have had to cobble together multiple solutions to match what they deliver as a single, integrated platform.”— Tony Chan, CFO, Wagepay
FoodsUp needed to differentiate itself in a market dominated by traditional supply chain practices. High credit card fees and inflexible payment solutions were eating into their margins, while manual payment processing created operational bottlenecks. This lack of flexibility limited their ability to scale and meet customer needs effectively.
VoPay implemented a digital-first payment strategy tailored to FoodsUp’s needs. This included a White-Label Payment Gateway for a fully branded experience, eLinx™ Connect for efficient customer onboarding, and Digital Pre-Authorized Debit (PAD for recurring EFT payments as a cost-effective alternative to credit cards.
These solutions optimized FoodsUp’s entire payment operations, reduced manual tasks, and improved customer satisfaction.
"We are using VoPay’s financial technology to take that leap ahead. Competing with industry giants like Costco, especially when they have their own credit card solutions, requires a different approach. You need to differentiate yourself in terms of product, price, service, and offerings. For us, VoPay’s financial technology has been the key to gaining a competitive edge." — Charley Chen, CFO, FoodsUp
Avesdo faced a critical challenge in building the integrated payment infrastructure needed to support complex real estate transactions. The fragmented banking system and stringent compliance requirements, such as Know Your Client (KYC) verification, exceeded their internal expertise, making outsourcing a top priority. Additionally, manual payment processing and a lack of financial visibility created user pain points that demanded immediate attention.
These gaps limited the platform’s ability to efficiently handle high-value transactions, scale its services, and capitalize on new revenue opportunities, ultimately hindering growth and market expansion.
Avesdo partnered with VoPay instead of building its own payment infrastructure, enabling a swift upgrade to platform capabilities. Integrating VoPay’s Advanced EFT, Digital Pre-Authorized Payments, and eLinx payment link technology enhanced the Avesdo platform with robust features without incurring the expenses of in-house development. This partnership expedited Avesdo’s time-to-market, enabling rapid scalability and unlocking new revenue opportunities.
“Digitizing payments has automated tasks that were previously manual, opening new channels and creating additional revenue streams. This integration is just the beginning—we see opportunities to enhance our platform, helping clients sell homes faster, for more money, and with reduced risk.”— Ben Smith, President, Avesdo
Without an embedded payment solution, Sparrow relied on users to manually manage transactions via Interac e-Transfer®, which initially worked but became inefficient as the platform scaled. The lack of automation led to errors, delays, and frustration, creating additional administrative burdens for both users and the platform.
This limitation not only slowed down operations but also prevented Sparrow from implementing enhanced features, stalling product development and restricting growth potential.
Sparrow partnered with VoPay to improve how its platform handled payments. VoPay’s Ledger Management system allowed Sparrow to automatically track and record all transactions, eliminating the need for manual updates. Virtual Accounts made it possible for Sparrow to keep funds separate and organized, ensuring greater control over transactions within the platform.
Automated Payment Workflows helped Sparrow speed up payment operations, reducing the reliance on the platform's users, which allowed the platform to handle more transactions efficiently as it scaled.
"VoPay’s technology stack outperformed every other option we considered. Integrating e-wallets into our system was a game-changer, allowing our customers to have a virtual bank account experience." — Oren Singer, Co-Founder & CEO, Sparrow
Parvis operates in a traditional, paper-driven industry where investors face slow and cumbersome processes. As the platform scaled, manual payment processing and complex provincial regulations became major obstacles to providing a fast, user-friendly experience. To remain competitive, Parvis needed to enhance the investor experience by reducing payment processing times, improving customer onboarding, and ensuring compliance across Canada. Without these improvements, the platform risked losing investor engagement and limiting its scalability.
Parvis partnered with VoPay to enhance its payment infrastructure by integrating advanced EFT bank account technology, Digital Pre-Authorized Payments, and eLinx™ payment and onboarding technology.
These solutions automated key processes, significantly reducing the manual effort required to manage payments. With VoPay’s advanced EFT product, Parvis was able to reduce the payment processing time from several days to as little as one day for its users. Digital Pre-Authorized Payments and eLinx technology simplified the investor onboarding process, allowing for secure and efficient payment collection. Additionally, VoPay’s system ensured compliance with provincial regulations, making it easier for Parvis to scale its operations while maintaining regulatory standards.
"VoPay’s EFT technology has minimized our need to intervene, making it possible for one person to manage our entire payment process. This is a major advantage as we scale." — Scott Spence, Head of Growth, Parvis
Goparity faced significant challenges entering the Canadian market, where impact investing is still emerging. Navigating complex financial regulations, particularly those set by the Ontario Securities Commission (OSC), added to the platform’s operational complexities. Goparity’s platform for small investment opportunities needed a scalable payment solution that could handle high transaction volumes without increasing costs. However, existing payment systems couldn't process investments efficiently, leading to delayed settlements, user frustration, and reduced investor retention. Additionally, in an online-only environment, building trust was crucial, requiring a reliable payment partner to boost credibility and foster investor confidence.
Goparity partnered with VoPay to improve its payment systems and optimize operations. VoPay’s multi-tier account structure and Ledger Management solution helped automate transaction tracking, reducing errors and improving visibility into money movements. The virtual account infrastructure, including the "e-wallet" feature, enabled investors to deposit and transfer funds swiftly into segregated accounts. This eliminated delays, reduced transaction costs, and resolved issues with co-mingled funds.
With Automated Payment Workflows and Interac e-Transfer for Business near-time payment rails, Goparity reduced processing times to just 10-15 minutes. Furthermore, VoPay’s solution underwent rigorous testing to ensure full compliance with Canadian regulations prior to launch, giving Goparity the confidence to meet legal and operational standards.
“What attracted us to VoPay was the e-wallet capability. We quickly realized that for our platform to operate efficiently, we needed a solution that allowed users to easily deposit funds. The e-wallet enables seamless transactions between borrowers and lenders, reduces transaction overhead, and helps manage everything directly on the platform. This setup allows us to reinvest funds easily, leading to better compounding returns and a more efficient process overall.”—Elliot Warner, Director of Technology, Goparity Canada
As we look back at these standout stories, it’s clear that our embedded payment solutions are not just a feature—they’re a strategic advantage. We’re grateful to our clients for their trust and partnership throughout 2024.
If you’re ready to see how VoPay can help your platform achieve similar results, explore our solutions or schedule a demo today.
