Payment Processing
Customer First, Growth Focused Payments
Chris Wheeler ● September 2, 2024 ● 3 min read
Sure, integrating a popular platform like Stripe might seem like the quick and easy way to get your clients accepting payments. But hold on! There's more to consider than just technology. To truly thrive now and in the future, you need a payments partner whose practices align with your growth goals.
Excellent Service is Your Secret Weapon
You might think your software support is all your clients need, but payments are a big part of their experience. They'll associate any hiccups with your brand.
That's why an in-house customer success team from your payments partner is key. They'll ensure easy access to real humans who can solve problems. A happy customer is a loyal customer, and that translates to higher value for both you and your partner.
Plus, a smooth merchant onboarding process is crucial. A clunky one can sour a new business relationship – even lead to them walking away. Before you commit, test the onboarding flow yourself. This is serious! A 2023 Strawhecker Group survey of Retail Solution Provider Association (RSPA) members found the three biggest challenges software developers face with payment partnerships are merchant onboarding, servicing customers, and preventing merchant attrition.
Integration Made Easy
The right payments partner makes your life easier. Look for APIs and SDKs that streamline integration. These tools let you focus on what matters – your user interface and testing – so you get your product to market faster.
Don't forget about ongoing development support. As you add features, your payments solution needs to keep up securely. Research the support options offered to ensure your innovations are backed by robust payment security.
Grow Together
A true partner is invested in your success. Look for ways to monetize payments, creating a win-win situation. Explore options for recurring revenue and financial incentives, like funding for development or marketing.
The ideal partner will also offer sales enablement services, collaborate on understanding your market's payment needs, and join forces on marketing campaigns.
Beyond the Transaction
While Stripe might seem like a convenient option, focus on the long game. Your team is likely brimming with ideas to keep your software at the forefront. But if the payments solution you've integrated with doesn't back up its technology with service and support, you may lose relevance in your market.
Take a customer-centric approach to payments integration by choosing a partner with an excellent track record of providing payments solutions, service, and support to the markets you serve.
Also give your business the advantage of working with a partner who offers competitive payment processing fees, support for cash discount and surcharge options, and a multilayered approach to security and PCI compliance.
You will also benefit from a partner who prioritizes development support, sales enablement, and co-marketing opportunities to help you grow your business and stay relevant in your market.
The right payments partner isn't just about processing transactions, it's about vaulting your business forward!
For more information, download our ebook The (Not So) Secret Ingredients of Successful Integrated Payments or contact us.