Over the next couple of weeks we will be rolling out new payment processing. We have done a major refresh of the code and moving to new payment processors, Adyen and Payroc. The purpose of this is to prepare properly for our next phase of growth as we try to help our customers raise more than $1 Billion per year. The new technology will help us serve customers better and more flexibly.
Initially, we will automatically move your events and donations to a new payment account that we will create automatically based on the information we use currently to pay customers. When this happens, we will send you an email notification. In most cases there should be no real effort or changes that you will see.
In some cases, we may need to update your information. One of the most common we expect is to verify bank account name information to assure the legal entity matches the bank account. We need this information, just as a bank would need information when creating a bank account and moving money in the financial network.
We have set up processes that will continue to automate refunds on your behalf for free whether the transaction was done on our previous payment processor or our new ones.
There will be a number of long term benefits for customers. The new technology will begin to show to customers more obviously as we roll out a new set of financial and payment account pages like the one shown below in a mock up:
This will also allow us to more easily “split” transactions. This will allow us to build better ways for nonprofits to enable DIY fundraising that they can control and monitor while enabling the talents and energy of their supporters. It will also enable us to do a new generation of our multi-race bundles that will split payments in real time between cooperating race directors.
A special thank you to our development team, and especially our CTO Stephen, for this major infrastructure improvement. Bob has compared this with changing the wheels on a car as you are driving 60 miles an hour. We have already started the migration with about 100 payment accounts and about 2% of the transactions on our system (almost $1 Million yesterday).
As is often the case, we continue to invest in the infrastructure that most customers never see or notice, but allows us to provide our community with the most secure and robust systems available.