Payment integration and online businesses go hand-in-hand. For retailers and software services alike, a seamless payment system is essential to the success of their platform. But what does it mean to be seamless, and why does it matter? We’ve created the following guide to break down the many benefits of embedded payment processing.
1. Expand the value of your platform
By tying in a convenient payment system, you’re automatically increasing the value of your platform. The convenience, reliability and security of a strong payment processing system is invaluable to your users. Having payment processing directly integrated into your platform also removes barriers to entry for customers and improves their experience. In other words, you’re increasing the likelihood that they’ll buy from you. By making payments easy and safe for your customers, you’re increasing the value of your entire platform.
2. Add new revenue streams and flexible payment models
Monetizing your platform can open a wealth of new revenue streams. From gating premium content behind a paywall, to offering different payment systems based on customer usage, the possibilities are endless.
Let’s look at an example. A software company might tier payments based on monthly transaction volume. For enterprise customers, the company could tier the payment higher or select fixed monthly fees for some customer types and per transaction fees for others, or fixed monthly/per transaction for certain aspects of the product, as well, such as additional modules. Additionally, if said company were using a flexible payment provider, these payments could all be split at the time of each transaction, making manual billing a thing of the past and saving you opportunity costs in the accounting department.
Embedded payment processing allows you to offer several types of payment models based on what’s best for your business. You can lead with a “freemium” offer, where users get to use your product for a limited time before they have to pay. You can offer multiple levels of payment based on usage. You can charge a monthly fee. No matter your preference, the point is the same: you have control over how payment works for your business. You can select and pursue new revenue streams through that control.
3. Keep your existing systems
A well-designed payment processor will integrate seamlessly with your platform. Integrating means you don’t have to change your model to adapt to the payment system — instead, the processor adapts to you. Modern payment processing systems like BlueSnap are user-friendly and adaptable, so you can bring them into your platform with ease.
4. Never worry about compliance or security
By using a payment processing service like BlueSnap, you’ll save your company endless headaches while gaining the benefits of embedded payments. If you host payments yourself, you’ll have to jump through hoops like audits and IT scans. It’s expensive, resource-intensive and hard to maintain. A payment host takes care of all that for you: your company never has to touch any personal or financial information. You can rest easy knowing that your clients’ data is secure, without having to sweat the security details.
With BlueSnap, you get all this and more.
Ease of use
When you embed payments with BlueSnap, you can do it on your own schedule and at your own pace. Our systems are available at any time and simple to use. Integration with BlueSnap is quick and straightforward, since it’s optimized for today’s technology and made to work with you.
You can use our library of free resources, such as detailed guides to add specific features as needed. We also have implementation specialists ready to help you integrate your platform or validate your system tests. BlueSnap will meet you where you are, integrating directly into your current model.
Our partnership program compensates platforms for choosing BlueSnap. Any platform that enables payments for a business it hosts gets a referral commission for that business. This offers an additional revenue stream to supplement the extra business you’ll get from payments themselves.
Embed your payments with a true partnership
Embedding payment processing into your platform can jumpstart your online business. Learn how you can streamline your platform with BlueSnap today.