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Product Update

Finix Q4 Product Update

Building Modern Payments for the Present and Future

2022 was a year of constant change, with market volatility influencing businesses nationwide. The payments industry was no exception, with the amount of payment providers contracting through acquisitions, significant reductions in force, and legacy players like large banks reducing or removing their payment services entirely. As a result, payments customers are having to make smart, scalable payment decisions fast, while ensuring there’s no interruption to their buyers’ payments or their business operations.

This is why we plan years into the future, to ensure Finix’s platform and customer service are consistently reliable for its customers. Despite a tough macroeconomic year, our team continued to deliver on its plans to build out new features and services within our highly reliable technology platform (99.999% uptime).

Q4 2022 delivered enhanced experiences for companies of all sizes

When Finix became a PayFac and enhanced our Flex offering in January of 2022, it allowed us to offer embedded payments to a wider variety of customers from large, publicly traded companies to smaller businesses just beginning to monetize payments, or anywhere in between. We continued this momentum throughout 2022, leveraging new fundraising to release more product features and bring more customers onto our platform than ever before.

In Q4 2022, our focus was on making customer experiences more intuitive and to reduce manual effort required by the user. Following dozens of customer interviews, this resulted in enhancements to our dashboard for all users – from developers to finance and operations professionals.

Additional fourth-quarter product updates included:

  • Reimagined In-Person Payments. We rolled out an entirely new suite of hardware and software for In-Person Payments so that Finix clients get their hardware, software, key injection, shipping, and device management all in one place.

  • More transparency into individual transactions. We added even more details at the individual transaction level—including information like how the transaction was created (e.g.created via API), CVV and address verification, whether the card was issued in the United States, and more.

  • Fee customization. We’ve added more flexibility to customize your fee settings so that you can factor in things like cross-border (international) interchange rates. This gives you the opportunity to ensure the payments you collect are profitable. You can check out the full fee customization options by watching our recent Q4 2022 product webinar.

  • White labeling. Customers of Finix can brand their own dashboards, their merchants’ dashboards, as well as their onboarding forms. Consistent product experiences with visual continuity create trust amongst users. Past UX design research tells us that users, like merchants, are more likely to complete a branded form from a software company they’re familiar with than a form that appears to come from an unknown third party. This is because non-branded forms can come across as suspicious—which is especially concerning as these forms ask for dozens of sensitive personal and business data points.

  • On-demand, custom reporting. We love big data. But sometimes we don’t need all the data all the time. That’s why we rolled out the ability to go into a given section in the Finix dashboard, select the filter criteria for the data you want to see, and export it as a report right then and there. The best part? It’ll automatically save to the reports section of your dashboard, so you never have to worry about misplacing the file.

  • Hover, click, and copy. It’s that easy. Need a transaction ID? Hover over the ID icon, click to copy, and then paste it wherever you need it. Need a payment instrument ID? Same thing. Gone are the days of time consuming, manual copy-and-pasting!

  • Webhook creation & API logs. You can now see a running log of every API call right in your Finix dashboard and create webhooks right from your dashboard–or continue to create them via API, if that’s your preference.

Our product philosophy & peek into 2023

When it comes to payment technology ecosystems, we have thoughts.

There’s no easy way to build an advanced payment platform. At the foundation of Finix’s business is our technology platform–and with that, we make no trade-offs. We build our platform in-house because technology is what powers and scales payments for our customers. It’s where we make our largest resource investment.

Clean tech works best as one seamless platform—not a patchwork quilt of different systems

We’ve seen the outcomes of other approaches–such as adding payment offerings through acquiring a new company to fill a product gap. While this might seem like the quickest avenue, it often leads to stitching together multiple kinds of technology. This can result in more potential breakage points (outages), and complex integrations, all of which need their own ongoing maintenance and constant quality assurance (QA) to ensure they continue to work well together. In contrast, Finix’s team builds the features needed by its clients and future clients to ensure that tech debt–such as bugs, errors, outages, and maintenance repairs–remains low, and reliability remains high.

Ease of use, optionality, and back-up plans

When do we partner with third parties to provide optionality? Where it counts for the customer. In-Person Payments are ever evolving. For instance, with physical credit cards being stored on mobile devices more and more, the need for hardware may very well become obsolete in the future. Which is why we don’t go all-in on the facets of payments we know are likely to change. Hardware is expensive, so we integrate our software with multiple types of in-person payment terminals from a variety of manufacturers in order to give us the flexibility to cycle in the most modern, reliable payment terminals for our customers.

Looking to the year ahead

With our methodical product approach, in 2023, you can expect Finix to continue to build out its platform for more customers. We’ll be catering to more industries and their respective industry payment needs, as well as offer more optionality and configurability. We continue to keep our eye on the market to ensure our customers can rely on us, no matter what the macro environment brings.

If you have any questions about our recent product updates, send us an email at

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