If your product or SAAS offers any kind or recurring payment functionality then a Credit Card Transaction Integration needs to be part of your offering. Credit Card Payment Integration offers your users payment options and benefits, makes collecting customer payments simple and efficient, and allows you to generate a new revenue stream without added support burdens.
So what should look for when it comes to Credit Card Payment Integration?
- Does your partner provide assistance in AutoPay customer adoption for you and your user clients? Offering a payment method is not enough to get end user adoption.
- Is there an API that would allow your customers to apply from your site or app?
- For market bases including Canada, does the partner provide a single API for both U.S. and Canada?
- Are there additional utilities available from the Credit Card API to make calls for anti-fraud and risk mitigation?
- Are there risk acceptance models available that could lower processing costs?
- What other payment utilities are available?
- API availability: Does the partner offer RESTful, SOAP ACH transaction integration in addition to credit cards?
- Will your potential partner take the time to understand your business requirements and provide options that custom fit the payments needs to your needs and your clients?
- Is sensitive data tokenized and can a call be made to immediately tokenize the bank account data prior to an origination?
- Are there opportunities to leverage the Credit Card Processing Integration for your application’s revenue stream?
- Do any white label possibilities allow for a branded processing option, keeping the processor behind the scene?
- Does the platform provide a solution for credit card decline?
- How long has your potential integration partner been serving the needs of app providers/ what is their history?
An ACH Integration may also be an option for your business. Credit card decline rates are continuing to rise. Average recurring credit card billing return rates are around 15%, while ACH payment processing return rates are typically under 2%. Think about 15% of your expected revenue NOT coming in, and you know have to contact those customers to update billing info. ACH Processing fees are typically 80-90% more affordable than credit card fees. To many businesses reducing margins by even 2.5-3% is significant.
A Credit Card Payment Integration solution leads to more satisfied clients, and provides a more economical method for streamlining cash flow. Combined with a revenue share model for integrated partners you can drive significant bottom line growth to your business.