Independent software vendors, or ISVs, are constantly looking for ways to improve not only the software provided to their clients, but also the level of service they provide. Some ISVs offer software to help businesses in a variety of fields and industries, such as:
- Real estate
- Health care
- Debt collections
- Property management
The list could go on and on. Regardless of the type of software offered, businesses need to be able to accept payments for the products using the payment methods most frequently used by the target customers. Because no independent software business is the same, it is crucial that there are payment methods available to integrate and fit the needs of your business and customers.
Value of Integrating Merchant Services into Your ISV Business
Processing payments shouldn’t be a hassle for both you and your customers. This is where merchant service providers enter the picture. Not only can they help you and your merchants with your payment processing needs by allowing sales teams to accept multiple forms of payment, but as an ISV you can also integrate payment processing directly into your software offering to provide a one-stop shop for your customers. Rather than working with multiple vendors to fulfill a variety of payment needs, you can unify these services into one platform. Below are just a few ways merchant services add value to your business as an independent software vendor:
Additional Revenue Stream
By partnering with a merchant services provider, ISVs can also gain an additional revenue stream. No matter what type of partnership you choose, whether it is a referral, agent, ISO, or another type of partnership, you will receive money every time one of your software customers is set up for payment processing with the merchant service provider. The amount you earn depends on the type of partnership you choose, so make sure you explore these options with your merchant services partner.
Flexible Payment Offerings
Your software vending services can be largely mobile; doesn’t it make sense to offer payment options that are as well? Whether your software customers are accepting transactions in stores, online, or on-the-go, we’ve got you covered with our flexible payment offerings.
Many of your customers prefer to have some of the standard payment processing equipment, and so do the end-customers; but they want a little more variety as well. Not only do they want to be able to pay with cash, which is sort of universal currency, but they also want the opportunity to pay with other methods too.
Your software was built to solve the unique needs of your customers and their payment needs are not one-size-fits-all. The BankCard Connect modular platform can help you deliver the features and services that align specifically with your customer’s requirements, enabling you to provide your customers with the value they require. This includes:
- Credit card payment processing. This includes EMV chip readers which are requirements for most businesses operating today and will be required for all point-of-sale transactions in the near future.
- Online payments. To reach more customers and amplify sales potential, businesses need to expand payment offerings to include online transactions. Now you can offer your customers everything they need for simple, flexible, and secure transactions online. Our gateway integrates with more than 175 shopping cart solutions to make it easier to process and accept payments made online.
- ACH payments. Merchant services can help you create and process ACH payments for recurring payments and to offer your customers the flexibility to automate their monthly payment routines.
- Check and eCheck processing. People are still writing checks. Some even prefer using eChecks to credit and debit card transactions. You want to keep them happy too, without exposing your business to unnecessary financial risks. We can help.
- Apple Pay and other mobile wallets. Because Apple Pay and other mobile payments are on the rise, it makes sense to provide consumers with an easy, contactless way to make transactions for added convenience.
Some customers are even beginning to request that more businesses accept cryptocurrencies for their transactions. While you don’t have to accept every form of payment available in the marketplace today, the more forms of payment you accept, the fewer customers you risk alienating or losing because you don’t accept the payment methods they wish to offer.
Expanded Service Offerings
As a partner to merchant service providers, ISVs have access to more services to support their customers. Some of these features include fraud protection, electronic invoices, tokenization, mobile applications, and much more.
ISVs also have the opportunity to become a partner to gain another revenue stream by referring their own customers to the merchant service provider. Choosing to become an ISO or agent partner will also give the software vendor access to services such as marketing materials, comprehensive training, and 24/7 support.
In a world where high-profile data breaches are becoming the rule rather than the exception, data security is more important than ever. If you choose BankCard Services for your payment processing integration partner, you can be confident that your payment processing is PCI compliant.
Few people understand the risks lurking around the dark corners of the World Wide Web better than people who create and market software. We offer advanced security solutions to keep your customers’ data and payment information safe and secure.
Perhaps the most important thing people need when selecting a payment integration partner is support. Not just during the sale, but long after your customers purchase your software. We offer 24/7 support in more than 120 languages, believe in transparency in the billing process, and work as tireless advocates for you and your software business. As a partner, we will provide all of your software customers with the same high-quality, round-the-clock support to keep your software businesses running.
At BankCard Services, we are proud to offer secure merchant services and payment processing integration partnerships for ISVs and for a variety of other businesses. Contact BankCard Services today to learn more about the BankCard Connect platform and integrations, and experience the difference we can make for your business.