Independent software vendors (ISVs) build solutions that are designed to help businesses maximize their potential, from streamlining daily operations to delivering the best customer experience possible. One of the most critical components is giving businesses the ability to accept payments from their customers in a seamless and cost-effective way.
Collaborating with the right integrated payments partner is one of the most critical decisions that you can make as an ISV. What should you look for in an integrated payments partner? Here are three must-haves.
1. Transparent Payments Pricing
Accepting payments comes at a price. Your integrated payments partner should empower your clients with clear, easy-to-understand pricing so they can anticipate the costs associated with their payment programs. Also be sure to understand how your integrated payments partner approaches rate increases, as your clients will absorb future changes to their pricing schedules.
2. Always-On Service and Support
The companies you sell to are laser-focused on growing their businesses, not on managing the ins-and-outs of payments. When questions arise, they need access to a dedicated team of experts that can assist immediately. The right integrated payments partner will offer around-the-clock assistance to guide them, from initial onboarding to continuing support.
3. Accept Payments Any Way Customers Choose to Pay
Customers can pay in more ways than ever before, from app-based ecommerce purchases to in-person payments made with digital wallets. Your integrated payments partner should provide a wide variety of options that can be customized for the unique needs of each business. Online payment capabilities should include hosted payment pages, virtual terminals, and integration to ecommerce shopping carts. If your clients accept in-person payments as well, look for an integrated payments partner that can provide payment terminals and physical hardware to meet their needs. This can include everything from EMV readers for chip cards to near field communication (NFC) for accepting in-person payments from mobile devices.