Waivr's Pay by Bank is a single API to process recurring payments via direct debit, bringing 10x lower processing costs, eliminating failed payments and providing faster disbursement.
Hi Product Hunt!
I’m Brenna, Co-Founder of Waivr. We’re launching a single Pay By Bank API that makes recurring payments just a bit smarter. We use a hybrid Same Day ACH and Real Time Payments (RTP) network to move money from customer to merchant at a 10x cheaper rate, within hours, and we eliminate the bounces and payment failures that occur because of credit cards. This means less churn and longer lasting customers.
@carolinanmd and I have been building Waivr for 2 years. We actually began our journey back when we were PH newbs (https://www.producthunt.com/prod...) as an app that would prevent the dreaded $35 overdraft fee that banks slap onto your account - for what, a $4 coffee? We did some data analysis with our customers and we came to realize that the overdrafts were many times being caused by subscription services, and there was typically just a cash flow misalignment between when an individual gets paid and when they were charged for a product. So we dropped Waiver’s E and pivoted to solve a much larger pain point that hits merchants and consumers alike - eliminating failed payments and involuntary churn.
Here’s the rundown of what we’ve built with Pay by Bank:
💃Customers pay using bank credentials or Face ID. No need to enter bank or card numbers.
🪩No bounces & no failed payments.
💰Fees 10x lower than the card network.
💸Instant disbursement through the RTP network.
Some things to checkout:
🍹 See us in action at: https://www.craftmix.com/product...
🎮 Give our demo a try and see how the API works: https://demo.waivr.co/
🙋♀️ If you’re a recurring payments or subscription product looking to reduce failed payments and improve customer retention, let’s talk. As a thank you to the Product Hunt community we have 1K free transactions and intro pricing for the first qualified merchants: https://www.waivr.co/request-access
Thank you for your support today - we’re looking forward to hearing your feedback!
Great product guys! I was just listening to a podcast (think it was Lenny’s podcast) where they were talking about an insane amount of churn happening from cards just bouncing / expiring. Retention is always the winner - seems like you guys have solved this!
This is a real problem and glad yall are helping take care of it! Is this something that would be in addition to platforms like stripe or does it replace it?
@justin_govy Thanks, Justin! Right now we are sitting side by side with Stripe at check out, but the idea is the integrate with them and other gateways like Braintree and Adyen so it's a payment method that lives along with the others!
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