Are you looking to integrate a payment solution? By integrating payments within your software it becomes more comprehensive. Which, in turn, makes it more attractive to your existing and prospective customers. However, payments probably aren’t your forte. So what do you need to figure out before integrating payments into your software?
Do you want to work with multiple payment companies or just one?
If you work with multiple payment companies, you give your customer a choice. They can compare rates, solutions, and customer support. Some customers may already have a preference for one payment provider, and if they don’t see it listed, they may find another solution that does offer it.
Working exclusively with one payment provider may be a better option, though. You may be able to get better rates, and you don’t have to worry about keeping each integration up to date. If you do choose to work with just one payment provider, make sure they are bank neutral, or else you might not be able to connect to your customers’ pre-existing merchant account.
What does the customer onboarding journey look like?
A customer wants to sign up. Fantastic! How do payments play into their sign up process? Can you integrate your onboarding process with your payment provider to make it easier for your customer? With they fill in a paper or online application? How long is the turn around time before they are ready to process payments?
Also look at what sort of reporting is provided. Information, such as where a customer dropped off the onboarding process, can be invaluable.
What payment types or products do your customers need?
Does your solution just need to accept credit cards? What about being able to process EFT or ACH? Do you want to offer fraud tools to help decrease chargebacks? What about in-person payments?
Figuring out the scope of payment types and tools you want to offer is key before getting started. The right payment provider for you, may not be the right one for your customer.
What does their developer portal look like?
You might not be the one to do the integration on your team, but someone is. Have a developer look at their developer portal. They will be able to ensure that their code is easy to navigate, and has the language you need.
How will they support you?
If you have a problem, or your customer has a problem, how easy is it to get a hold of them? Can they call, access live chat, or email? Are their hours compatible with all your markets, or are they closed after 5pm ET?
Make sure they support you beyond just enabling payments. What tools can they give you to speak about payments? Do they offer revenue sharing or any co-marketing opportunities?
Integrating payments into your software can help your business grow expediently while also increasing your customer retention by ‘building the fence’ around your customer. Don’t just take our word for it. Find out how Uplifter was able to provide a holistic solution by integrating an online payment solution.