Finding A Credit Card Payment Solution for You (Part II)
Welcome to the second installment of our blog on finding the perfect credit card payment solution for you and your business! In this article, we’ll be discussing the remaining few – yet still utterly essential – principles to which one should adhere when choosing the perfect credit card payment solution.
Choose a payment provider that offers solutions to solve all kinds of problems with payment needs. Providing more options for diverse payment needs allows ISVs to choose solutions that better fit their business and merchant customers’ requirements. Payment providers should be associated with industry organizations, aware of technologies, and committed to innovation, for keeping up with the constantly changing industry. Payment providers that are forward thinking can bring real value to the ISV’s business and merchant customers by providing insight.
No matter your payment environment, choosing a provider that offers many credit card payment solution options ensures that the ISV can allow the business new opportunities as they arise. Security, of course, is essential to any wise company’s credit card payment solution, and a provider should offer current security options as part of their credit card payment solution.
Avoid unnecessary complexity and cost. Payment processors that offer semi-integrated solutions require maintenance of software, and these solutions command that staff support and manage application updates. This can create instances of failure and add unwanted costs.
Pursue processing platforms that are designed using XML or Web services, to make it easier to integrate software. Credit card payment solution platforms designed with service-oriented design allow upgrades for merchants, without requiring the headache of a download.
Find a payment vendor that helps your customers understand their pricing obligation well. Payment processing costs can be a complex medley of fees, and card issuers require merchants to pay card-issuing banks fees for accepting their cards, and gateway and merchant account providers also collect a fee.
Make sure you’ll be getting the service you and your customers expect. When choosing a credit card payment solution, there are two service considerations: the service provided to the ISV, and the service provided to merchants. The ISV provides software service, and the processor provides merchant account-related service.
Use a provider who delivers more than merely a credit card payment solution. The relationship between an ISV and a payment solution provider is more successful as a partnership, when both are interested in a mutually beneficial relationship, resulting in long-term success for both parties.
Evaluating credit card payment solution providers can be a time-consuming and challenging endeavor, but extremely important to a business. Finding a payment provider that takes a partnering approach, demonstrates a strong commitment to innovation, and shares a similar customer service model will help you select the perfect credit card payment solution.