Drake Software® is excited to introduce Drake Pay™, a payment integration solution that works seamlessly with Drake’s suite of software products. This solution allows our customers to accept payments from their clients effortlessly and directly in their tax preparation workflow.
Why Drake Pay?
Payment Options Your Clients Expect
Drake Pay gives you the freedom to offer your clients the payment options that many have come to expect when seeking professional services. According to a Drake Software survey from January 2023, 69% of taxpayers that Drake users serve prefer to pay their tax preparation fees by credit or debit card. Additionally, many Drake users prefer to accept credit or debit card payments over more traditional methods such as check due to ease of use, security, convenience, and fast funding.
Time is Money
We recognize that time is of the essence, especially during tax season. That’s why Drake Pay comes with a rapid approval process, typically only taking 1-2 days from application to active use—and applying is easy. Everything Drake Tax users need to get started is live on the support site. We’ll keep you up to date on the status of your application via email. You can also check your application status at any time on the Drake Pay screen on the Drake Software Support site.
Additionally, any payments received through Drake Pay typically hit your bank account within two business days. There’s no need to take a trip to the bank to make a deposit, giving you more time to focus on other critical aspects of your business.
Integration Made Easy
Once your application is approved, integration into the tax products you use every day is seamless—no setup required. This means you can start accepting hassle-free credit and debit card payments. If you’re using Drake Tax®, Drake Zero®, or Web1040®, you’ll find a Payments screen in Data Entry for every tax return. When your client is ready to pay you for your tax preparation services, visit the Payment screen within their tax return to enter credit card information. Payments processed within client tax returns will automatically write to the Bill screen, helping you keep all reporting accurate and up to date.
Drake Portals® customers can send clients invoices directly from Drake Tax or from the Drake Portals application. Clients will receive an email that allows them to conveniently and securely pay their invoice directly though the Portal.
Security You Can Count On
When it comes to payments, security is a top priority. Drake Pay adheres to the highest industry standards to ensure all information from you and your clients is protected. We partner with Launchpay™ for the acceptance and processing of payments through Drake Pay. Launchpay’s technology components conform to—and have been certified to meet—the PCI Secure Software Standard. Drake Pay gives you peace of mind by protecting your financial data with robust security measures from both Drake Software and Launchpay.
Try Drake Pay Today
The cost to use Drake Pay is a low 2.85% + $0.25 per transaction, regardless of the type of card processed. This fee is deducted automatically, directly from your clients’ payment. You’ll have full visibility and itemized reporting detailing the payments you receive, when you can expect them to be deposited into your bank, and any fees deducted. Applications are free, and once you’re approved, you will only begin payment when your first transaction is processed.
Our current business climate requires tax professionals along with taxpayers to move at a continuously faster pace. Drake’s product management team saw this opportunity to improve day-to-day operations for our users and the clients they serve. From a swift approval process to seamless integration and enhanced security, we designed Drake Pay to provide a payment acceptance solution that adds real value to your daily operations. Let Drake help you start this season on the right foot!
To learn more about Drake Pay, visit our site.