GoodLeap Introduces Payments Product for Contractors
GoodLeap has introduced a comprehensive payments product for contractors.
The new GoodLeap Payments includes a variety of payments methods as well as refund and dispute resolution management, transaction reporting and QuickBooks integration, the company said in a Tuesday (June 3) press release.
This product is designed to help contractors solve the current fragmentation of payments that hurts their business growth and frustrates their customers, GoodLeap Founder and CEO Hayes Barnard said in the release.
“GoodLeap Payments is a perfect example of how we’re able to quickly engineer a software solution that helps contractors and homeowners at the same time,” Barnard said.
By enabling tap-to-pay functionality on mobile devices, instant eCheck processing and remote payment links, GoodLeap Payments allows contractors to accept payments at client homes, on job sites or in the office, according to the release. The product also includes recurring payments for service plans.
The product’s transaction reporting and QuickBooks integration connects field operations and back-office systems to streamline accounting and eliminate inefficiencies, per the release.
“We saw a clear opportunity to build a solution designed for the realities of contractor work — constantly moving between homes, job sites and the office, all while needing seamless, real-time financial continuity,” GoodLeap Head of Payments Solutions Grace Kaznecki said in the release.
Many construction firms still rely on manual B2B payments, including paper checks and ACH transfers, according to the PYMNTS Intelligence and American Express collaboration, “Breaking Ground: Solving Construction’s Delayed Payments With Digital Tools.”
The report found that 69% of construction companies still use paper checks for transactions, leading to a domino effect of delays, disputes and financial headaches.
It also found that digital payment methods offer solutions to these challenges. In 2024, 84% general contractors reported receiving payments more promptly when developers employed digital payment methods.
In another, separate development in this space, Nuvei said May 6 that it is expanding its B2B payment capabilities for the construction sector by adding new integration support for Sage Intacct Construction Real Estate (CRE).
On April 30, Field Materials said it raised $10.5 million for its construction industry-focused artificial intelligence platform that focuses on material and equipment procurement.
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