Exploring SaaS Payments Partnership Possibilities
At Agile Payments we take, well, an agile approach to solving the needs for your payment integration solution. For payment integrations to software applications we work collaboratively to discover :
- Your end customer needs and expectations
- Your understanding of payment processing and what you want as well as don’t want. Once an integration is completed solutions can range from your organization doing very little to being much more involved in the payments process
- What is most important to you and your customers. Depending on your needs the payments solution can range from a partnership where you have zero risk and liability to a PayFac like solution where you are intimately involved in all facets.In some cases, application stakeholders or those empowered to researching a payment integration aren’t fully aware of not only the types of payment facilitations possible but haven’t considered what can be a large list of their accompanying issues.
When it comes to researching and making a decision for payments integration and how payments will be facilitated to your software user base, there are a number of possibilities to explore. Commonly, there are two mindsets, one that comes from the business side of things and one that comes from the developer side.
On the business side, usually, a stakeholder with lesser or no coding involvement at all tends to look more at how a payment integration will affect their user base in the long run, as well as how the integration will enhance their bottom-line.
On the developer side, possibly a stakeholder, but with a great deal of hands-on involvement with the application coding, they commonly look towards providing multiple payment integrations – much more of an agnostic approach to payments facilitation.
The facilitation possibilities are the same but likely looked at from different viewpoints. Assuming all below have an API that meets the application’s needs, the facilitation possibilities are:
- SaaS Payments Partnership
- Utilizing a payment aggregation service.
- Standard merchant account.
- Becoming a payment aggregator yourself.
- Hybrid Aggregation.
- Third party processor-to-bank integration.
So what is a SaaS Payments Partnership anyway?
While there can be some subtle differences on a case-to-case basis, a payments partnership is an agreement with a processing organization to share revenue in return for the leverage the merchant organization brings by way of their application-using market base. While there can be other things provided by the processing organization outside of their typical duties like customer support, the processing organization might also participate with marketing support, survey creation, mobile application development assistance or tweaking existing systems to meet the needs of the user base. And then there are things that occasionally arise that can be specific to a single SaaS organization.