Nowadays, businesses of all sizes are looking for more ways to save and adjust to new buyer preferences. The good news is, when implemented properly, ISVs can use enhanced pricing programs coupled with integrated payment technologies and their software to quickly provide their customers with much-needed savings.
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As the financial ecosystem becomes increasingly complex, it’s crucial for ISVs and ISOs to explore and understand the array of available payment solutions beyond traditional PayFac models. This exploration not only involves analyzing the advantages and potential pitfalls of becoming a PayFac but also considering alternative payment models that might better suit their unique needs and objectives.
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The recent COVID-19 pandemic has changed the way we think about things. From social gatherings to the way we eat, shop, exercise, and work, we have had to reconsider the size, frequency, and location where we do most of, if not all of our daily activities.
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Recently Mark Passifione, vice president of partner sales at Xplor Pay, participated in the Southeast Acquirers Association’s Virtual Sessions. During his session titled How ISOs Can Ensure Success in 2020 & Beyond, Mark spoke about the intersection of software and payments and how it has created unique opportunities and challenges for ISVs, ISOs and agents.
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As with any economic downturn, many small business owners and consumers are taking a closer look at their expenses and working harder to stick to a budget. For example, many business owners are taking time to dive into their credit card processing statement in order to better understand their costs.
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Whether you plan on adding gift cards or they’re a standard offering for your business, it’s critical that you create a marketing strategy. Without it, the task of promoting your gift cards can easily fall by the wayside, especially with all of the other things you have on your plate right now.
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Integrating payments into your software app adds value for your users, gives you more control over payments and creates new lines of potential revenue. SaaS companies have a few options for how to integrate payments, though each comes with its own pros and cons.
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