Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. We are on a mission to acquire, build and grow great enterprise software businesses all over the world that have dominant positions in niche vertical markets. In recent years, Banyan was named the #1 fastest-growing private software company in the US on the Inc. 5000 and amongst the top 10 fastest-growing companies by the Deloitte Technology Fast 500. Founded in 2016 with a permanent capital base setup to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies that serve specialized vertical markets.
The VP of Payments at Banyan Software will be a pivotal leader in identifying, implementing, and integrating embedded payment solutions across a diverse and global portfolio of software companies. This individual will collaborate with portfolio company leaders to evaluate, design and implement embedded payments that can drive significant value, either as a core revenue stream or as a value-added service. Reporting to the CFO and working closely with Banyan’s Operating Partners, the successful candidate will lead initiatives to establish Banyan as a Payment Facilitator by driving payment operations and integrating payments solutions that enhance business operations, optimize revenue potential, and improve customer experiences. This role requires an individual with deep experience in the payment processing industry, a track record of driving strategic initiatives, and a passion for optimizing customer and business experiences through seamless financial technology.
Key Responsibilities:
- Identify and evaluate and monetize embedded payments opportunities within portfolio companies to enhance both core revenue and value-added services.
- Oversee the full lifecycle of payments integration projects, from strategic assessment through to implementation, operations, and ongoing optimization.
- Collaborate with portfolio company leadership teams, product, finance, and operations departments to align payments solutions with business goals.
- Lead the negotiation and relationship management with third-party payment providers, ensuring optimal terms and seamless integration.
- Centralize payment operations through the development of a shared services model for payments, allowing portfolio companies to leverage economies of scale and best-in-class payment technology.
- Ensure all payment solutions comply with regulatory standards, security protocols, and industry best practices. Oversee the development and enforcement of risk management policies across payment systems, affirming that our portfolio companies remain compliant and competitive.
- Regularly report to the CEO, CFO and Operating Partner team on the progress, challenges, and opportunities in driving payments value across the portfolio.
Qualifications:
- 15+ years of experience in the payment processing industry, with a strong focus on credit card payments and embedded payment solutions within software companies.
- Proven ability to drive high-margin revenue through credit card processing, preferably with experience managing payment fee capture for software products.
- Experience with shared services or centralized payment operations models, including the ability to leverage economies of scale across multiple businesses.
- Strong understanding of payment ecosystems, including gateways, processors, facilitators, and regulatory compliance.
- Expertise in managing risk and compliance for payments, including navigating regulatory requirements for payment facilitators.
- Ability to work with cross-functional teams and manage multiple stakeholders, including leadership teams across portfolio companies.
- Strategic thinker with the ability to translate business goals into actionable payments solutions.
- Excellent communication and interpersonal skills with a proven ability to influence and build relationships
- Flexibility to work remotely from any location in North America, with occasional travel to portfolio companies and headquarters.
This role offers the unique opportunity to shape and grow an critical business line with Banyan’s portfolio, driving value by monetizing payments, centralizing operations and with an eye toward the future, this leader will also explore opportunities for Banyan to become a payment facilitator, managing the regulatory compliance and risk management aspects of this evolution. This ideal profile will have a proven track record of unlocking value in software-driven payments and is ready to lead these strategic initiatives that will enhance business operations and revenue potential across a globally diverse portfolio.
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Diversity, Equity, Inclusion & Equal Employment Opportunity at Banyan: Banyan affirms that inequality is detrimental to our Global Teams, associates, our Operating Companies, and the communities we serve. As a collective, our goal is to impact lasting change through our actions. Together, we unite for equality and equity. Banyan is committed to equal employment opportunities regardless of any protected characteristic, including race, color, genetic information, creed, national origin, religion, sex, affectional or sexual orientation, gender identity or expression, lawful alien status, ancestry, age, marital status, or protected veteran status and will not discriminate against anyone on the basis of a disability. We support an inclusive workplace where associates excel based on personal merit, qualifications, experience, ability, and job performance.
What We Do
Banyan Software provides the best permanent home for successful enterprise software businesses, their employees, and customers to preserve the legacy of founders, while helping grow the business into the future.
We are on a mission to acquire, build and grow great software businesses that have dominant positions in niche markets all over the world. Today Banyan has over 750 employees throughout the US, Canada, UK, Europe, Australia and New Zealand. Founded in 2016 with permanent capital to preserve the legacy of founders, Banyan focuses on a buy, hold and grow for life strategy. For more information on Banyan Software, Inc. visit: http://www.banyansoftware.com
What We Look For:
- Great enterprise software businesses that have dominant positions in niche markets
- We work with owners who are thinking about an exit today or further down the road
- We are flexible and can be creative when we find a business that is a good fit
- The businesses in the Banyan family all share a similar profile:
- Annual revenues in excess of $2M-$30M
- A high percentage of recurring revenue
- Positive operating margins and cash flow
- High customer retention and satisfaction
- Happy and committed employees
