Payments integration has distinct advantages over non-integrated systems. With payments integration, merchants don’t have to wait for batch reports and then manually enter data into their accounting systems. Instead, data is automatically shared with accounting. Moreover, with the right system, that includes data from all channels, including online, mobile, unattended and in-store. Overall, payments integration makes business operate more smoothly with fewer errors and greater efficiency, and its time-saving features can improve cash flow.

But not all payment integration solutions are the same. Choosing the right system, and the right partner, are key to maximizing benefits a merchant receives.

Payment Integration System Non-Negotiables

As an ISV or VAR with the responsibility of providing the optimal solution to your clients, make sure the payments integration partner you choose offers:

• Omnichannel payments: With payment options expanding and merchants accepting both card-present and card-not-present payments, you need to give your clients omnichannel payments capabilities so that they can deliver consistent customer experiences across channels and manage all revenue streams more efficiently.
• Value-added services: A total solution for your clients probably needs to include more than just managing sales and payment transactions. Ensure that the system you choose gives you the option to add additional functionality, such as gift cards, a loyalty program, or third-party apps that can make your clients’ businesses more efficient and customer-centric.
• Security: Merchants are acutely aware of how fraud, cybersecurity threats and data breaches can impact a business. Ensure the payments integration solution you choose is PA-DSS validated and includes security features, including EMV chip card technology, point-to-point encryption (P2PE) and tokenization. Also, many merchants can benefit from semi-integrated payments systems, which bypasses the point of sale (POS) system with cardholder data, keeping it out of reach if there is a breach and keeping more of the merchant’s system out of scope with regard to PCI compliance.
• Processor-agnostic: Your clients will appreciate the ability to choose their payment processor, not be locked into specific fees, and retain the freedom to switch processors, if they choose. And, a series of recent processor acquisitions have shown many POS providers the danger of tying themselves to a single processor relationship. The value of processor (and residual) diversification has never been higher than it is in today’s ecosystem.
• Easy to use: Find a solution that strikes a balance between offering state-of-the-art features, but that’s also easy for your clients to use. Give your clients the benefits of easy onboarding, convenient and secure online portals, and reporting features that provide the information they need quickly and easily.

Keep in mind, a payments integration partner should make life easier for ISVs and VARs. A solution that’s compatible with all POS operating systems will enable you to choose one partner for payments integration across your entire customer list. And working with a partner with flexible sales models, including Software as a Service (SaaS), break/fix, and timed license, will make it easier for you to work with your customers’ budgets.

Your payments integration partner should also have a dedicated integration support team, in addition to dedicated product support, to assist you with quick and error-free implementation.

Can You Afford to Maintain the Status Quo?

Many ISVs and VARs have longstanding partnerships with payments integration partners — or with several partners. Continuing those partnerships, however, may not be the best strategy for the future as merchants continue their transition to omnichannel business models, security risks grow, and customer experience strongly influences loyalty.

Weigh the pros and cons of your current offerings and ensure you are partnering with the payments integration partner that can deliver what your clients need — and what you need to grow your business.