The importance of keeping up with the rapidly-evolving world of payment technology is a no-brainer for any ISV who wants to remain aggressive, successful and relevant. But which of these innovative payment solutions are the most essential to be competitive in a crowded ISV field?
Delivering a positive customer support experience is a must for any business looking to keep customers for the long term. For POS ISVs who maintain relationships with multiple hardware vendors, this can get tricky because it requires tight coordination with the partners.
Hip companies have learned that by giving their customers multiple payment options – credit cards, debit cards, mobile payments and more – they boost business significantly. So, it must be a good idea to select several different payment gateways for your software too, right? Actually, no.
After the Equifax breach in September 2017 exposed the personal information of approximately 143 million Americans, the importance of protecting sensitive data was brought sharply into focus. Cyberattacks as of Q1 2018 have already resulted in 686 breaches and the theft of 1.4 billion records. The result of this turbulent digital security landscape – especially considering that identity theft accounts for 69% of all hacks – is that consumers lose their trust in affected businesses. It can take a single breach to negatively affect brand loyalty and profits significantly. As Warren Buffet said ““It takes 20 years to build a reputation and five minutes to ruin it.”
With the focus on hosting cloud-based services that customers subscribe to – instead of software sold in one large payment – customer retention is vital to success. it’s crucial to reach a 3:1 ratio of Customer Lifetime Value (CLV) versus your Cost to Acquire a Customer (CAC) to grow as a business. You want customers to keep subscribing long past the point where you recoup the original investment.
Even with a simple payment API, the integration process can raise many questions. Here are the top five most common questions developers ask us during the integration process.
Today’s consumers know exactly what they want and love one-touch solutions. They prefer spending time on things they enjoy, not repetitive tasks. What’s the trick to growing your payments program to capitalize on this virtual Shangri-La? Partnering with an experienced integrated payments provider – a guide of sorts – is a huge help. Here’s why.
Know what makes a new customer want to stay with you? Hint – it’s not the software.
What does it mean to partner with a payment solutions company? If you’re a software provider, entering into an integrated payments partnership can offer many lucrative benefits for you along with improved functionality for your clients. With a referral agreement, you can provide your customers with a reliable and secure payment processing provider. In return, you can potentially earn additional credit card processing revenue.
Deciding which payment processing platform to add to your SaaS application can be overwhelming and time-consuming. Payments for SaaS applications are not necessarily a feature that developers look forward to adding as many gateway integrations are complex and timely. Here are a few things to consider when exploring different payment platforms for your SaaS application.
|
|
|
|
|
|
|
|
|