Based on Drake’s Launchpay technology, the product integrates with Drake Taxand was released before the tax season began. Tax preparers can invoice customers immediately after services are completed from within Drake Software workflows. The system can accept payments made via credit cards, debit cards and contactless remittances in-person or online. Drake says users typically receive customer payments in two business days.
Drake’s website said the new products currently lacks ACH/e-Check acceptance or processing capabilities, but that it is evaluating the features for the future.
Drake Pay is available to those using Drake Tax or Drake Portal and pending the completion of a merchant application and approval. There are no set up fees or long-term contacts with users paying a fee of 2.85 percent plus 25 cent per transaction.
The company said POS integration options are expected early this year through devices fully integrated with Drake software. Devices already owned by customers cannot be used.