A payment processing software partnership can be an incredible opportunity for your business. They allow your business to create a new revenue stream with little effort easily. You can choose from several options, and it’s easy to integrate a payment processor into your software. However, there are numerous things you could consider before you select a specific payment processor. 

Importance of a Payment Processing Software Partnership

With the pandemic, there has been an explosion of contactless and online payments. A payment processing partner will allow your business to navigate this complicated network of payments. A partner also will come with extensive experience in the payments space, and they can bring valuable insight to allow your business to thrive and grow. 

Your partner can also promote your business with their marketing, and collaborative marketing gets more eyeballs on your business. A payment processor enables your business to meet the highest payment security standards. This allows your business to avoid fraud more easily. 

Payment processing software partnerships also allow your business to develop additional revenue streams. For example, from leads you send to your partner or from revenue sharing with your partner from the transaction fees your customers are charged when they buy from you. 

How Difficult is it to Integrate a Payment Partner?

Thanks to API, it is relatively straightforward to integrate a custom payment solution into your software. This also means your customers can go through the entire payment process on your site instead of them redirected to a third party. This also allows you to customize the payment process however you want. 

Both you and your customers will be able to use a wide variety of payment options as well. This makes it easier for your customers to purchase your product, as they can choose the best method for them.

Types of Payment Processing Software Partnerships

You can choose several types of partnerships, including referral, agent, and ISO partnerships. With a referral partnership, you send leads to your payment partner. Your business is paid with each lead that signs up with the payment processor. This gives your business an easy revenue stream. 

With an agent partnership, your partner will handle the onboarding process. In contrast, your business handles the sales and post-onboarding service. Your business will get a percentage of the revenue from the sale. 

With an ISO partnership, you control everything from sales to post-onboarding. This enables you to get the most significant percentage of revenue of all the partnership options. You will also have tremendous control over how your customers interact with your business.  These are just three options for partnerships available to your business, allowing you to choose the one that best suits your needs. 

What to look for in a Payment Processing Partner

Before you agree to a payment processing software partnership, it is crucial that you evaluate the pros and cons of working with any particular payment processor. In addition, it is essential that your business partners with a payment processor that is committed to offering the most cutting-edge payment solutions. 

Your partner should offer integrations such as inventory management and reporting to allow you to gain as much as possible from the partnership. Your partner should also be adaptable and flexible to help you meet the challenges of today and tomorrow. 

The setup process can be difficult and painful, and it is essential to find a processor committed to making this process as smooth as possible.

It would help if you had a partner that prioritizes customer experience, so your payment solution fits seamlessly with your product. Unfortunately, some payment processors do not prioritize customer service, which can hurt your customers if they have payment issues. So be sure your partner emphasizes customer service. 

Be sure your partner is committed to transparency throughout the entire partnership, not just at the start. Unfortunately, some payment processors will try to squeeze as many fees out of you as possible. These include PCI Compliance fees, Early Termination fees, and Address Verification fees. Avoid these processors if you can, and look for processors that have transparent fees and pricing. 

Advantages of Partnering with Payline

Transparency and Low Fees

Payline is committed to offering transparent pricing. We do not charge excessive fees such as PCI Compliance, Early Termination, and Address Verification. We see no need to try and nickel and dime our customers or our partners. Our fees are lower than many of our competitors because we want to build long-term relationships. We want everyone to benefit rather than squeezing as much out of you as possible in the shortest amount of time. 

Commitment to Service

Other payment processors cut back on customer service because it is not revenue-earning. Here at Payline, we have remained committed to providing excellent service to customers and partners. We do not want to work with you for just a few months but for years to come. 

With a payment processing software partnership with Payline, you will get a commitment to cooperation as we work to find the best solutions for your business. We will work closely with you throughout the transition process at the start of the partnership to ensure it starts as smoothly as possible. 

Cutting Edge Payment Solutions

Payline offers excellent and flexible payment solutions for both you and your customers. With Payline, your customers can pay for your product in various ways, whether in person or online. This allows your business to be adaptable to your customer’s needs, and the best part is that Payline does all the work for you. 

Collaborative Marketing and Growth

We want our partners to grow as much as possible. To this end, we will use our marketing platforms to put our partners in front of our customers. For example, click here to see how we have marketed our partner, Gusto, and their excellent payroll software. Additionally, with Payline being very software integration friendly, we recommend your software to new customers looking for helpful integrations that can help their businesses. 

Partnership Options

There are several types of payment processing software partnerships you can choose with Payline. Suppose you want a partnership that does not require you to integrate directly with Payline. In that case, you can be a referral or agent partner with us. By passing customers to Payline, you will gain an easy revenue stream. 

Payline also offers ISV partnerships similar to ISO partnerships, as mentioned earlier. With these partnerships, your business will have a Payline integration built into your software. Every time your customers process a payment, you will get a cut of the processing revenue. An excellent example of this is our partner EasyEats. They offer comprehensive software for food trucks, and Payline can operate seamlessly with their system. Click here to see how we have also worked to market their business on our own website. 

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