Integrated payment processing is becoming increasingly popular among a diverse range of businesses, including Independent Software Vendors (ISVs). Thanks to advanced merchant payment technology, ISVs can save money, increase revenue, and ultimately enhance the overall customer experience.
ISVs are always on the lookout for opportunities to grow their business. The key to achieving this goal is finding a way to attract more customers to their software solutions. To do this, they must streamline their payment processing, which not only increases the value of their software solutions, but it also helps them secure new, recurring revenue.
If you're an ISV, now is the time to refine your payment processing. Keep reading to explore how you can improve the customer experience with an integrated payment processing partner in your corner.
Equipment and Service Support
With an integrated payment processing partner, you gain access to the latest payment processing equipment and technology including an advanced payment gateway to process online payments while protecting your merchant customer data. Your staff will receive comprehensive training on ways to use the equipment to its maximum potential. This training covers how to utilize the easy-to-use APIs and automated tools as well as how to interpret real-time analytics. This ensures you know where your money is coming from, when you're receiving it, and how it's being distributed.
It’s important for ISVs to offer merchants the ability to choose payment gateways that meet the needs of their business and allow them to grow by reaching customers that might not necessarily be local. BankCard Connect provides a solution for ISVs looking to offer merchants the option to process their payments online. This payment gateway integrates with more than 175 shopping cart solutions, making it easy for your clients’ customers to complete online transactions securely at their own convenience, any time of day.
First-class customer support is not only available to you and your clients, but also to their customers. Offering this level of support all the way down the line helps build strong customer loyalty and ensures their repeat business.
Your client’s customers expect a variety of choices when it comes to making payments; however, integrating various payment methods is often a burden on the merchant’s IT department. By partnering with a processor, you are not only integrating technology to process various types of payments into your software, but you're also ensuring that your merchant clients have the ability to automate reconciliation and recording of payment transactions. With an integrated payments processor, you get the ability to seamlessly integrate new payment options on an as-needed basis, which relieves some of the strain on your clients.
As an ISV, your time is one of your most valuable assets. Payment trends are constantly changing, and it’s challenging to find the time to keep up with them all. Trying to make use of payments software that doesn’t integrate well with your existing infrastructure can be a huge time sink as well. Utilizing an integrated payments processing partner will free up your time and relieve the stress of having to try and reactively scale your efforts as newer technologies become available. Your payment partner will stay up to date on the latest payment trends, like ApplePay, and adjust your infrastructure according to the needs of your merchant clients. Advanced API integrations also allow you to easily integrate your existing software into the payment processor. You can rest easy knowing that your partner has you covered.
End-customers already have concerns with data protection and security. When you add an integrated payments processing partner to your infrastructure, you show your clients that you prioritize their data concerns. Your clients will have peace of mind knowing you are using the latest security tools, like EMV and multi-factor authentication, to uphold PCI compliance (which is essential for preventing fraud and data breaches).
Seamless Checkout Payment Experience
Not only do customers want multiple payment options—mobile, credit card, gift card, check, e-check, and more—they also want a simple checkout experience. You can help merchants provide that expectation within your software. An integrated payments processing partner helps streamline the checkout process to ensure there are as few steps as possible. Knowing they only have to click a few buttons to complete the checkout results in a better overall shopping experience for the end-customers. A simplified checkout process combined with multiple payment options will increase your client’s sales potential, which ultimately results in loyalty to your software.
Advanced reporting options offered through your integrated payment processing partner allows your clients to analyze customer payment habits; as they learn customers’ most preferred methods of payment, they can leverage the data learned from your software and payment processing integration to optimize processes and marketing materials to increase conversions. For example: mobile and multi-channel payment preferences have gained traction over the last few years, and with advanced analytics offered by your payment partner, you could help clients determine when to offer these payment methods for maximum effect.
When choosing a payment provider, always look for one that offers easy-to-use APIs. Within only a few days, you can offer clients an entire payment processing infrastructure that boasts global functionality while still providing localized user experiences, both of which are essential to building strong customer relationships and securing recurring revenue. Contact us to learn more about BankCard’s partner programs.