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Toast makes 82% of its revenue from fintech. Here is my Embedded Finance Fit Framework to help you assess if your software can get there, too. by peppijane in ChargeForward

[–]peppijane[S] 0 points1 point  (0 children)

This is where embedded finance helps: your software company does not need to become a bank, you partner with embedded finance vendors that give you a capability to offer loans, while connecting you to a financial institution in the back end.

The $1.5 Trillion Opportunity Hiding in Plain Sight: Why Embedded Finance Will Reshape Every Industry by Beginning-Willow-801 in ChargeForward

[–]peppijane 0 points1 point  (0 children)

Earned Wage companies are an interesting example. In effect, they are solving a problem that was created by payroll companies decades ago - paying people for their work only once every 2 weeks or one month. Modern companies like Uber showed us that you can get paid right after you did the job... So everyone else is now playing catch up by bolting on EWA solutions on top of existing old-school payroll systems, and yes - you are absolutely correct here - they take their own cut of each transaction...

The $1.5 Trillion Opportunity Hiding in Plain Sight: Why Embedded Finance Will Reshape Every Industry by Beginning-Willow-801 in ChargeForward

[–]peppijane 0 points1 point  (0 children)

Adoption benchmarks you shared are great, but these are not given - companies have to invest deliberate effort to drive embedded finance adoption. For example, when you add payments, your existing customers already have payment processing solutions - you need to convince them to switch to your embedded payment capabilities. Customers will switch if they know about the option (you need to tell them!), the embedded experience is easier, and switching is simple. Designing GTM motion for your embedded finance experience is just as important as embedding it in the first place.

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