SAAS platforms and developers tend to make a decision on a payment gateway integration partner[s] without considering the potential for the partner to actually help grow their business.
Typically, thinking about Payment Gateway Integration Web Services consists of:
- Educating end customers about gateway options
- Handing off customers and hoping for the best
- Simply integrating with the most familiar option
A strategic decision is often NOT made despite a business’s client base being arguably their greatest asset.
Issues with support and funding, data hostaging, confusion payment gateways versus merchant accounts, etc. can leave clients frustrated [specifically ACH Processing for recurring payments]. Along with lack of payment options, and issues reducing credit card decline rates, your hard-earned clients may end up exploring alternative options to your solution.
Payment Gateway Partners DRIVE GROWTH STRATEGY by:
- Helping to negotiate great deals for your users, and create goodwill by saving users money on processing fees.
- Offering a Revenue share model: Your payment gateway integration api provider [especially if they can also set up merchant accounts] should offer you a transaction revenue share model. If every client you have now generates an additional income stream you have a much more profitable company. This means better service and more payment options for your clients.
- Offering payment options via ACH Integration. Especially for recurring payments multiple payment options with cost savings are a competitive differentiator.
- Ensuring a payment gateway partner provides a simple process for onboarding and continued support. A happy customer is a business’s best referral generation strategy.
- Improving client retention rates: Delivering value beyond expectations means more loyal clients, meaning an increased ability to cross sell, upsell and leverage possible referrals
- Adding value for your users: There is a huge gap or disconnect that your gateway partner can possibly help with. If your service or product also offers a recurring billing solution you have an opportunity to help your end users [and you] generate more value.
Make sure to give careful thought to your gateway partner. It can without question become a growth catalyst for your business.
For more information visit Agilepayments.com