Change isn’t easy for a business of any size, but when you’re talking about integrating new payment processing solutions at the enterprise level, the shift can often seem overwhelming – especially with the variety of payment processing signs calling for a switch in your solution.
It’s common for businesses to not even realize they’ve outgrown their current payment processing solutions. After all, with so much emphasis on day-to-day operations, delivering services to your customers and growing your company, there isn’t always a lot of extra time to think about payments.
What many enterprise businesses may not realize, however, is the correlation between your ability to boost your revenue and the tools, equipment and software that power your payment processing.
To determine if now is the time to upgrade your payment processing, you must first be able to identify how your solutions are helping you across five major categories: speed, technology, flexibility, conversion and scalability. From there, you can work backward and start evaluating if it is time to move on from your current systems.
Payment Processing Signs No. 1: How Fast is Your System?
Speed matters, especially when it comes to payment processing. Customers take note of how fast you’re able to process their order, and how quickly you can get it completed.
If your payment processing is slowing down your day-to-day business operations, it’s time to start looking around. At Payline, our solutions are focused on delivering a quicker path for your business to meet your customers’ needs — which starts with making your products and services easier to pay for.
Payment Processing Signs No. 2: How Up-To-Date is Your System?
Have you been relying on the same old payment processing system simply because that’s always the way you’ve done business? We’re here to tell you that your customers want more out of their payments experience.
That’s why, at Payline, our solutions aren’t just about powering enterprise payments between businesses and customers. We’re focused on delivering a better experience from end-to-end so you can keep your customers happy knowing your business is in tune with the latest security trends to keep their payments safe.
Payment Processing Signs No. 3: How Flexible is Onboarding New Solutions?
If thinking about onboarding new products or services into your processing is a daunting task, then it’s time to start shopping around.
Today’s processing needs change rapidly and your business needs to be able to keep up with the changing times. Whether that’s embracing mobile wallets, contextual commerce or social payments, Payline’s payment enablement and processing tools can help your business accept payments in form factors you may never have considered before. In turn, this could help boost customer acquisition and boost your business’ growth.
Payment Processing Signs No. 4: Are You Boosting Your Conversions?
Have you considered how your current payment processing solutions are impacting your conversions? One of the quickest ways to lose a customer is having a payments system that adds friction to the process.
Instead, what your business should be investing in is payments processing tools and software that help streamline the process. Are you ready to increase those conversion rates? Not only are Payline’s services built to drive revenue, our payment processing solutions can help you turn sales faster, increase your customer base and increase conversion rates.
Payment Processing Signs No. 5: Are Your Solutions Scalable?
The final sign you’ve outgrown your payment processing solution is if it isn’t scalable. If you find that your system doesn’t allow you to integrate new software and services in order to onboard new payment methods, then it’s time to re-evaluate.
Because Payline is focused on bringing businesses up to speed with mobile payment enablement, the latest technology in software and services and faster and more efficient ways to integrate new payment methods, now is the time to start thinking how your payment processing solutions are impacting your business’ growth. If you can’t find the answer to that question, it’s time to re-evaluate your payment processing partner.
Anna Lothson is a content contributor for Payline Data. She previously wrote for PYMNTS.com, as a Sr. Content Producer, where she focused on financial services and payments innovation, fraud and security, emerging payments, and FinTech news, research and thought-leadership content across the payments industry.