Online software services have been on the rise since the advent of the internet. Online services built specifically for businesses have been growing significantly. In the last year the global pandemic, unfortunately, forced many businesses to remove in-person or physical contact. This required businesses to adapt. It created new opportunities for online businesses to emerge, and generated the motion that more payment options means faster growth.
SaaS (Software-as-a-Service) and online software businesses have been created for many types of services and many industries.B2B (Business-to-Business) software enables customers to take payments.
B2B software companies are evolving quickly. Payments, as part of the software business, were once decoupled because payment systems were complex and not easy to integrate with. This made the payments process complex and error-prone.
Today, software platforms and payment systems have evolved to allow seamless integration. This brings a new level of user experience for the business software. It also allows for better customer support resulting in stronger retention of customers.
Business software that allows their customers to take payments now have the opportunity to have deeper integration into payment systems. Customer management systems are prime examples of types of software systems that can integrate payments. If you provide software that helps businesses manage their customers, payments can easily be incorporated.
There are multiple ways to integrate payment processing into your software. Integration supports both software and hardware. On the software side, a full set of payment APIs allows functionality to create customer profiles, initiate single or recurring payments, add or modify saved credit cards, send email receipts, and all the other core functions necessary to create a complete payment experience.
Open APIs give complete control to the software vendor to create amazing experiences at the same time as ensuring that all credit card and PCI-related data is securely managed. PaidYET takes care of all the PCI and security concerns. At no point will the software need to handle credit card data.
Giving your customers more payment options removes most of the obstacles or objections that cause your business to lose a sale. It has been found that increasing payment options can increase revenue for a business by 30%. Increasing payment options comes in two ways: payment forms and card types.
Payment forms range from web or mobile, to in-person, recurring, tap-to-pay, over the phone, and mobile apps. Our APIs offer coverage for all the capabilities to cover payment forms. Card types are generally credit cards (Visa, MasterCard, AMEX, etc) and debit cards. These are the most popular card types for most software businesses. It’s important to include other less popular, but potentially growing forms.
Its never been as easy for SaaS and software businesses to generate revenue from payment processing. Each customer can be adequately set up so processing runs through the software business seamlessly. Our dedicated team are here to help you set up a payments business within your business. Creating an optimal scenario for software businesses to build a payments revenue stream.
Sign up or reach out to us today to find the best payments solution for your business and customers.