By Chelsea White, Integrated Solutions Marketing Manager, CardConnect
In a world where speed is imperative, business owners can’t afford to be anything but efficient. Fully integrating payment acceptance into your SaaS offering is an excellent way to empower them to do just that. Whether it’s by simplifying the reconciliation process, improving data security or eliminating human error, discover all of the time-saving benefits integrated payments can help you deliver.
When creating an application, building the proper payments architecture can have a big impact on providing your customers with a seamless experience. These days, people want to work smarter and more efficiently, and integrated payment processing can enable business owners to do just that. From simplifying the reconciliation process and reducing human error to improving data security, integrated payments can bring some pretty valuable features to your software application.
Many Independent Software Vendors (ISVs) have already recognized just how beneficial integrated payments can be, and have enhanced their platforms by including it. By offering your clients a solution that allows them to process, reconcile and record payments directly within the software they use on a daily basis, you’ll be able to limit the number of vendors involved in their transaction flow and improve their overall payment experience.
Let’s look a little closer at some key benefits of integrating payment acceptance into your application.
Improved Business Operations
When it comes down to it, integrated payments is all about providing your customers with a single source solution. By allowing your users to manage all aspects of their business within one streamlined platform, you will enable them to spend more time growing their business and less time managing multiple platforms. You’ll want to look to accommodate features like next day funding and interchange optimization, giving you more ways to make your customers’ lives easier.
Enhanced Payment Security
With data breaches on the rise, integrating secure payment processing into your platform is crucial. By leveraging innovative security features like point-to-point encryption (P2PE) and tokenization, you can help your clients protect cardholder data and increase their customer loyalty as a result. Even better, these features will allow your merchants to reduce their PCI scope and the administrative time spent on Self-Assessment Questionnaires (SAQs).
Even if your software only addresses one payment channel today – whether that be point-of-sale, online, mobile – you’ll want to consider an integrated payments architecture that can scale. Being able to offer your merchants a seamless payments experience across both in-store and online transactions can have a strong influence on increasing both sales and customer satisfaction. You’ll also be making sure your software keeps up with the ever-evolving payments landscape, making it easy to harness emerging technologies (Apple Pay and Google Pay being recent examples).
Profit Sharing & Incentives
What’s a partnership if it doesn’t benefit everyone involved? If you’re offering integrated payments to your customers, you should see this as a significant revenue driver. From performance-based incentives to profit sharing opportunities, you’ll be able to provide your customers with an all-inclusive platform while also gaining an additional source of income. You should also seek out new sales and marketing opportunities brought about by the processor you are integrated with, and their fellow sales partners.
By working to implement integrated payments the right way, you can begin to offer your users an improved payment experience, and as a result, yield greater profits and enhanced customer satisfaction. Why not make payments yet another reason why your clients love your product.
CardConnect works with software companies of all sizes to create a streamlined customer experience through integrated payments. To find out of the ISV partner program, click here.