About
The money you earned should reach you.
Paycove has run payment plans for businesses that sell something expensive and get paid over time since 2017. We take no outside money and charge 1% of what we collect, so we only get paid when you do.
2017collecting for customers since
$400M+collected for them on payment plans
15,000+students who paid over time without a high-interest loan
150 → 300locations our largest customer grew to on one account
What we believe, and what it makes us do.
Each of these costs us something. That's how you can tell they're real.
Your customers should pay you, not a lender.
A tuition plan from the school at 0% beats a loan at up to 36% APR. The student pays what the program costs, spread over time.
So we don't lend, don't underwrite your customers and don't take a cut of interest. There's no interest to take a cut of.
The processor shouldn't keep 3% of what you earned.
On $100K a month in card payments, that's about $35,000 a year going to the payment companies.
So we recover the card fee inside the plan where your state allows it, and offer bank transfer beside every card.
We should earn when you earn.
Seat licenses charge you for hiring. A percentage of what we collect ties our income to yours.
So it's 1% of collected plus $500 a month, with unlimited seats. If a payment doesn't land, we aren't paid for it.
Customers, not investors, should set the roadmap.
We've never raised money. Nobody is pushing us to sell you a second product or flip the company.
So features come from customers. The payment planner, scheduled payments and reporting were all built because a customer asked.
How we got here.
We started with quotes and invoices from the CRM deal. One customer's campuses needed more than that, and the payment plan became the product.
- 2017
Quote to cash, from the deal
Paycove starts turning CRM deals into quotes, invoices and payments.
- 2019
A school finds us
A career-school group's CTO finds Paycove on a technical search and needs tuition collected over time, campus by campus.
- Next
We build what they need
The payment planner, scheduled charges with retries, a template for every campus and reporting by location. Their websites create plans through our API.
- Then
Other schools and operators follow
Trade schools, clinics and training companies with the same problem: expensive programs, paid monthly, at more than one location.
- Today
150 locations became 300
Our largest customer doubled its locations on one Paycove account, with a higher collection rate than before.
A small, calm company, on purpose.
We'd rather be here in ten years than be big in two. For you that means three things.
The same people, for years
The person testing each release has tested Paycove for six years. Your setup doesn't reset when someone leaves.
You talk to people who decide
A founder takes your first call. When you need a state rule or a program schedule built, the person who hears it can say yes.
No investors to answer to
We've never raised money, so the people who run Paycove decide what it does next, and they decide it with customers.
Who you'll work with.
Rich Hankison
Co-founder. Customers and revenue.
You'll meet Rich on your first call. He'll build a plan from one of your real deals while you watch.
Jeff Gluck
Co-founder. Product and design.
Jeff decides what gets built and how it works. If something in Paycove is confusing, it's his to fix.
Behind them, a team that knows your business.
Our engineers, product, QA and support people have spent years building and supporting software for trade schools, edtech companies and businesses that run on payment plans. Enrollment seasons, program-specific schedules, a student who withdraws in month four: they've handled it before, usually more than once.
Three things we don't do.
We don't store card numbers
Cards are entered on Stripe's hosted payment fields and stored by Stripe, never by Paycove.
We don't lend
The plan is your money on your terms, landing in your account. Nobody underwrites your customer.
We're not an ERP
Your CRM stays the system of record, and QuickBooks or Xero stays the ledger. Paycove writes to both.
Built for businesses collecting $100K a month or more.
More than one location, customers who pay in installments, and each location needing its own invoices, payouts and books.
Book 15 minutes