When it comes to selecting the right provider for your software application, it’s important to understand your options. There are multiple factors to consider, of course, but the first decision is whether you want a self-service or full-service payments provider.
has its pros and cons, and it’s important to understand the differences. Here are a few key factors that can help you identify the right choice for your business.
WHAT ARE FULL-SERVICE PAYMENTS PROVIDERS?
THE DIFFERENCE BETWEEN THE MODELS
Full-Service Integration
Self-Service API
Access to developer libraries and SDKs for fast integration, along with the flexibility and freedom to work on their own timelines, with no requirement for a payment provider to review and certify their integration.
Guidance from payment experts including solutions engineering and partner support is not offered. Software companies are largely on their own to complete integration which can result in critical gaps in feature functionality.
Providers are able to enjoy high integrated payments adoption rates by delivering a frictionless merchant onboarding experience that today’s software users expect.
This model traditionally includes flat-rate pricing. While this is ideal for small merchants and in marketplace environments (like Uber or Etsy) the pricing model prohibits larger merchants (with negotiating power) from using your software solution.
Integration
Development Resources
Onboarding Experience
Merchant Pricing Options
Marketing Services Marketing resources are not available.
Support is typically limited to self-service documentation, a knowledge base or a ticketing system/email-only, leaving software providers without any human-touch to address additional needs.
Software Partner Support
Access to developer libraries and SDKs for fast integration, required to have a payment provider to review and certify their integration.
Full support from domain experts who understand the deeper program strategies required for specialty verticals, including the feature functionality needed to be competitive in today’s markets.
Providers are able to enjoy high integrated payments adoption rates by delivering a frictionless merchant onboarding experience that today’s software users expect.
Software providers have the flexibility to capture up-market software clients with custom pricing options. Merchants benefit from volume or transaction-based pricing, leading to better economics.
Providers get access to market development funds as well as marketing services with both turn-key and custom campaigns to drive customer adoption throughout the lifetime of the partnership.
A team of payment experts including solutions engineers, account managers, marketers and sales professionals support and guide your organization for the life of the partnership.
When a payment issue arises, software clients have access to high quality customer support across a variety of channels (email, phone, self-service) at no additional cost.
THE IDEAL PAYMENTS INTEGRATION:
FULL-SERVICE THAT’S FAST AND FRICTIONLESS
From developer resour ces and support that allow for integrations to be completed in hours (not months), frictionless onboarding and white label capabilities, to comprehensive support and strategy to fully monetize payments, it is possible to select a true payments partner who can deliver the advantages each model provides.
