How integration is driving fintech and business aviation forward
The ability to integrate services and products, in order to deliver more value for the customer, has been a major contributing factor to the success of the fintech industry. The game-changing Internet of Commerce Things (IoCT), for example, is built on the benefits of connectivity and integration. We all save time when the appliances, vehicles and buildings we use every day begin to manage themselves without our help. Why not integrate fintech into those products and structures? What if they can automatically order and pay for the resources they need? That’s where the IoCT is taking us, to refrigerators that electronically reorder groceries when supplies run low and to cars that automatically pay for petrol.
Imagine a world in which you never spend time making payments. Imagine a world in which you are always paid instantly. We’re not there yet but we are heading in that direction. And the integration of fintech into everyday products and services is driving us there. Platforms that cannot ‘talk’ to other technologies simply won’t succeed in the future. But when you look at how hugely popular services like online marketplace eBay and electronic payments giant PayPal have prospered by working together, the benefits of cooperation and integration are clear.
You might already be enjoying fintech integration in your business life. DocuSign, for example, a leading player in the field of electronic signatures, integrates technology with online payments business Stripe. As a result, customers can sign electronic agreements and instantly pay for those services, even from mobile devices.
Across the business world, fintech products are designed to easily integrate with other platforms, to be as flexible as possible. One of the key selling points of Intuit’s QuickBooks accounting software, for example, is the fact the product integrates with popular apps. PayPal and e-commerce platform Shopify are just two of many apps with which QuickBooks can easily ‘sync’ (synchronise).
At PayNode, we ensure our service seamlessly integrates with the products of our sister companies in the Avinode Group. Users of Avinode’s TripManager sales management system or the SchedAero flight operations system can easily create and send pre-populated customer payment requests – using PayNode but within TripManager or SchedAero. Everything can be done through one platform. There’s no need to re-enter data, which saves time and minimises the risk of errors. There’s no need to leave TripManager or SchedAero to track your payments. Everything you need to know is right there for you.
Every charter broker and operator wants to become more efficient and grow the business. Every broker and operator welcomes the ability to raise payment requests at the click of a button. As Giles Vickers-Jones, chairman of international business aviation charter broker SHY Aviation, says: “PayNode is such a big improvement on the old, time-intensive payments processes.”
PayNode takes care of your payments, so you can focus on your customers. Across the Avinode Group, we’re committed to providing a fully integrated, end-to-end digital platform for business aviation.
The integration of PayNode with TripManager and SchedAero ensures funds can flow through the payment chain and into your bank account more effortlessly than ever before.
We’re sure you are already using outstanding fintech products. With better integration, though, could your business become even more efficient?
By Magnus Henriksson, Global Business Director, PayNode.