Payment integrations are helping ISOs maximize revenue and enhance the customer experience
By: Oscar Lopez, Director of Sales, Strategic Partnerships, First American Payment Systems
Independent Sales Organizations are focusing more and more on payments integration, and for good reason.
Accelerated by the pandemic and consumer demand, card not present payments continue to gain traction. That means one thing for today’s businesses that do not yet have an e-commerce strategy in place. If they are to survive and remain relevant, the time to create one is now.
That is opening up an entirely new segment of merchants ripe for business management solutions. When payments integration is built-in, that can often seal the deal, as it gives these merchants one unified solution through which they can protect revenue, simplify their business day-to-day, and also delight customers.
Want to get your business software into the hands of as many users as possible? It all comes down to integration.
Offering multiple payment options and simplifying payment intake
The pandemic reignited innovation with virtual terminals, mobile POS systems, and other card not present solutions that consumers immediately utilized. Businesses that previously shied away from ecommerce, are now embracing it, and ISOs are now looking for value-added solutions that solve business needs and reduce expenses.
Take the restaurant industry as an example. They revamped their business model to serve customers curbside and with to-go orders as dining rooms across the country closed, but many were forced to rely on food-delivery apps such as Uber Eats and DoorDash for online sales. These apps, which charge merchants (and consumers) for their service, more than doubled their business, according to MarketWatch.
As merchants got a glimpse of the revenue lost to these apps, they began seeking solutions to control their revenue; solutions that also allow them to couple sales with both inventory management and accounting functions.
Saving time with streamlined operations
Integrated payments make running a business easier. Adding payment technology to software streamlines internal operations by connecting sales and inventory to accounting and payroll, which reduces the need for manual data entry and eliminates related errors that cost you both time and money. Moreover, integrated payments simplify the user experience, providing a clear shopping path and a branded checkout for customers—they go to and stay on your website throughout the entire transaction—that’s complemented by business insights both ISOs and merchants gain from real-time transaction data and customized reporting.
Want instant access to real-time data? Need a simpler way to track sales and manage inventory? Have customers who want to pay via email link or text? Integrated payments allow ISOs to quickly and easily scale payment options that best serve businesses and drive consumer spending.
Elevating the customer experience
ISOs, like consumers, benefit from the accessibility, convenience and security that digital payments afford.
When a large-volume medical software company needed help growing its sales pipeline, the company turned to First American. The company was using an independent payment gateway that allowed patients to pay online, but there was no connection between that payment system, the payment hardware or the software company. Using First American’s solutions, the software company was able to embed payments and reporting into their patient portal, creating a better customer commerce experience and relieving manual reconciliation efforts. This payment integration has helped the software company improve its cash flow and ensure PCI compliance.
Today’s ISOs need a payment technology partner who provides solutions that save time, save money and make it as easy as possible for merchants to sell goods and services—and integration has to be a part of the conversation.
First American Payment Systems, L.P., is a global payment technology company providing leading integrated payment solutions to more than 159,000 merchants throughout the Americas and Europe. First American provides partner and merchant payment solutions that include a robust set of in-store, online and mobile payment solutions paired with the latest in payment security, across a wide range of verticals. Backed by award-winning customer service, merchants and partners have access to our U.S. based Customer Call Center 24/7/365. For more information, visit http://www.first-american.net or email Oscar Lopez directly at Oscar.Lopez@first-american.net.