Since they have so much on their plates, it is easy for independent service venders to overlook areas of their service delivery that do not require immediate attention – why fix something that’s not broken? However, one area most independent software venders cannot afford to ignore is the provision of integrated payment processing to clients.
If you aren’t focusing on an integrated payment solution, you’re probably missing out on sales opportunities and leaving money on the table. The ability to transact and make payments in a secure manner online is more important than ever; even more so due to the digital dependency of the ongoing pandemic.
In this article we look at the relevant details of integrated payment solutions for ISVs and also discuss the benefits on offer.
Details of Integrated Payment Solutions for ISVs
Integrated payments offer a solution embedded within the very core of software applications. The presence of an integrated payment solution allows clients to make direct payments without the requirement of a third-party system. The added functionality enhances value and gives clients a secure and streamlined payment experience.
The automated application of integrated payments gives ISVs a chance to generate quick approvals for payment processing merchant accounts.
Benefits of Integrated Payment Solutions for ISVs
An integrated payment solution benefits both, independent software venders and their clients. The benefits mentioned below will help you better understand this:
1. Better Security
Data security is a massive threat for venders in today’s digital age. Integrated payments significantly enhance the security on offer and ensure that clients are protected at all times. Clients approve of these added security measures and trust the vender to serve them well.
The technology of integrated payment is PCI compliant and based on a tokenized model. Tokenization secures all customer data with non-sensitive placeholders that are known as tokens. The token is made out of a string of jumbled numbers and letters that hold no value.
2. Increased Efficiency
Manually calculating and accounting for payments is a tedious process; hence your clients will appreciate the integrated payment solution and the automation that comes with it. The added efficiency ensures that clients are serviced in a quick manner without delays.
3. Better Client Services
The competition in the market means that your customers are currently bombarded with software solutions of the same nature that you offer. In fact, some service providers even go one up to provide better rates.
An integrated payment processing solution builds value for your client where nothing else does. As a result, you retain customers even in the face of turbulent maneuvering and efforts from your competitors to steal them.
4. More Revenue Generation
Integrated payment solutions offer the best of both worlds – seamlessness and profitability. ISVs can now get a percentage of transaction fees by using integrated payment solutions. While these fees would previously go directly to third-party processors, they are now shared by both parties.
Conclusion
Meeting client needs, generating more revenue and making more money should be a priority for all business owners. As seen in this article, integrated payment solutions offer all of the above and give your business the opportunities it deserves.
Searching for a reliable integrated payment solution, especially a platform with modern features is incredibly hard. Reach out to PaynetSecure today so that we can utilize our 15 years of experience to set up online payment gateway integration for your business.