More and more software vendors are partnering with payment processors and referring clients to seamlessly combine their business management functions with payments to provide an intuitive user experience for both their clients and their clients’ customers.
Partnerships between software vendors and payment processors are truly beneficial for everyone involved: software companies, their business customers, and the end consumers.
You get:
- Revenue share on your customers’ transactions. This is usually a percentage of the net revenue generated from your referred customer and increases as their total processing volume grows.
- A value-added solution that increases market penetration and revenue
- Innovative technology for changing consumer and business needs.
- Fully integrated payment system that offers your clients multiple ways to accept credit and debit card payments.
- Data and line of sight reporting that gives you full visibility into your referred clients.
Your customers get:
- An omnichannel solution for payment and business functions. One of the attractive benefits of an integration is that businesses only need one solution to manage all their business functions, without needing to piece together several different vendors.
- Frictionless onboarding for payment acceptance. From signup to account application to setup, a good payment partner will ensure that your shared customers are up and running as soon as possible.
- Preferred partnership pricing. Another benefit of a payment integration is that your shared customers usually enjoy preferred pricing through the partnership.
- The ability to accept debit, credit, and mobile payments – however consumers want to pay.
- Full PCI compliance. Every transaction processed is fully PCI-compliant and no sensitive information is ever stored on their systems.
- Cloud-based, secure payment data storage means that all their information is instantly accessible anywhere they are.
- They’ll enjoy improved cash flow and get paid immediately, no longer having to wait for invoices or NSF cheques.
- Faster funding with funds deposited in as fast as 1-2 business days.
Their customers get:
- The ability to pay how they want
- A frictionless and fast experience
Everyone wins!
This is an adapted excerpt from our latest eBook, Payment Integration 101: A Software Vendor’s Guide to Payment Partnerships. To read more, download the free eBook on the right.
