Payment Gateways for SAAS Providers | Payment Gateway Integration | Payment Gateway API
If you have an application or software that has a billing solution component you need a payment gateway. The payment gateway serves as the secure vehicle that transports sensitive payment data. Whether from your clients location or website their has to be a way for secure payment data to get from the customer making payment to the actual processor of the payment.
Most payment gateways are strictly designed for credit card processing. For applications that offer recurring billing an ACH [echeck option] is important. Credit card decline rates now average 15% for recurring payments-this # will continue to rise. You absolutely must have a partner that has a plan to reduce these declines. Not only does ACH offer yourend users the ability to save 90% or more on transaction fees the decline rates are typically sub 3%. An ACH offering will also open up another payment option and offers the SAAS provider a way to differentiate your product. If the competition only offers credit card processing and you can provide a single platform for ACH and credit card processing [US and Canada] you have an advantage. Combined with a gateway partner that provides exceptional support and marketing plans to help your users get maximum participation in an auto billing program you have new tools to grow your business. You can download our WhitePaper: Payment Gateways Integration as Growth Strategy
Software Payment Gateway Integration can be accomplished in a relatively short period of time. You can typically choose the integration methodology that you prefer. The advantages of Payment Enabling Software are powerful: create a more useful application that your end users come to rely on and generate new revenue streams for your company.
There are multiple payment gateway providers including the first, Authorize.net. To best serve your application’s billing solution needs and your end users, your payment gateway and payment gateway partner should be able to;
- Offer PCI compliance, security and redundancy.
- Offers a guidance on Payment Gateway Best Practices.
- Provides Payment Gateway Development example
- Provide a sandbox testing environment for Payment Gateway development andPayment Gateway testing.
- Provide multiple back end credit card processors eg Vital, First Data, Global, Elavon and Vantiv.
- Provide dual ACH and credit card platform that works in the US and Canada. Any recurring or subscription-billing component should offer both. Having the Canada option immediately offers the ability to expand your products footprint.
- Provide fraud control measures such as AVS, velocity controls, IP monitoring, advanced checking account verification and more
- Integration tools and support that make coding straight forward as well as same-day test account.s
- Allow you to offload PCI compliance via vaulting or tokenization
- Provide real support to your end users. Users with payment related needs expect timely support. When they don’t get it your reputation suffers.
- Have data migration plan inn place should your clients decide they want to move sensitive payment information. Data Hostaging is relatively common and typically your client has no idea the data that is very important to their business can be withheld by a provider.
- Offer you a revenue share model for all mutual clients as well as providing you and your users best practice guides to get the most benefit from an automated billing solution. If only 20% of their customer base uses the recurring billing solution you provide they are not getting the maximum benefit. The more your service helps their business the better client retention rate you have.
Choosing a payment gateway partner is a decision that can either help your business grow [click here for ways we think it can double your profits] or potentially create support headaches as well as reputational damage.
Contact us and see for yourself if maybe you have not thought strategically about your payment gateway partner.
AgilePayments specializes in Payment Integration Solutions. We partner with SAAS providers to create better solutions for end users and create new revenue streams.