Providing quality software and increasing software sales is central to any software vendor. An effective payment processor can help your business accomplish both of these goals. In addition, payment processing can enhance your sales by providing customers with an easy-to-use payment system and allowing your team to focus on your product rather than payments.

The Importance of Payment Processing to Software Sales

The backend processing of online payments involves several important components, such as the merchant account, payment gateway, and payment processor. Many customers will abandon an online purchase if there is a long and complicated checkout process. 

You want to be able to integrate your checkout process seamlessly into the rest of your website to allow a seamless process for your customers from the second they go to your site to the moment they complete their purchase. Why risk cutting into the profits from your software sales by losing customers to a clunky checkout

Your team should also not waste time figuring out or micromanaging your payment process. A good payment processor should take the stress out of payments for your business. This will allow your team to focus on improving your software and increasing your software sales. 

Must Haves from a Processor for Software Sales

Easy-to-Use Payment Gateway

Your payment processor must have an easy-to-use User Interface. You do not want to lose customers because they are confused with the payment process for your software. This also allows you to have a much broader base of customers, as providing payment for your software is very easy

Integrating a payment gateway into your website lets your customers trust that they are doing business with you directly rather than a third-party payment site. 

Integrations

Integrations are essential to any processor you go with. Being able to integrate your payment processor with other tools easily is necessary. This allows you to streamline your business as much as possible and will enable you to focus more on software sales rather than more tedious tasks such as accounting or payroll. 

Transparent Pricing

Transparent pricing from a payment processor is a must. You should know well in advance what you would have to pay for payment processing before you spend a dime. Your chosen processor should allow you a free trial to see if the service works. The average monthly fee for online payment processing comes in at $10-$50 a month.

Technical Support

Many problems can quickly arise when accepting online payments. Technical issues can occur, and it is essential that your chosen payment processor can help with any issues that can come up. Some payment processors will charge you additional fees for extra services such as customer support. 

Security 

Security is absolutely essential for software sales. You cannot risk your customer’s information being stolen, and your chosen payment processor must be PCI compliant. You want your customers to feel comfortable giving you their information for payment. Your chosen processor must be able to protect both your customers and your business from fraud.

Payment Options

Customers will choose to pay for your software in various ways. These include debit cards, credit cards, Google Pay, Apple Pay, Afterpay, and many others. It is essential that your processor can accept many different forms of payment. This flexibility will allow your software sales to grow as you can accommodate your customers’ payment preferences.

Comparing Payment Processors

Stripe

One very common payment processor for online purchases is Stripe. Stripe has transparent and flat pricing for your business. For online transactions Stripe charges 2.9% + $0.30 per transaction. They have many options for developer tools, but you will need to do a lot of the work to integrate your payment gateway into your website.6 If you want a payment solution that lets you be hands-off, Stripe is probably not the ideal choice. 

Square 

Square is another well-known payment processor. They have a similar transaction cost as other processors, such as Stripe, as they also charge 2.9% + $0.30 per transaction. Even though Square is more oriented towards physical stores, they do offer online solutions. However, Square’s monthly fee can be as high as $79 before transaction costs. If your business is just starting up, this fee could be a bit too much for you. 

Adyen

Adyen offers a variety of payment options for your customers to choose from. There are also many valuable integrations that you can use with Adyen to help your business. Adyen does not have the most transparent pricing, but some options could be affordable for your business. Unfortunately, they do not offer live customer or technical support. 7 If there are any issues with your payment process, it will take time to resolve and could cost you sales.

How Payline can Help Your Software Sales

With Payline, you can access all the functions you need from a payment processor. Payline can help increase your software sales by offering easy-to-use payment gateways allowing your customers to pay on your website seamlessly. Payline is very integration friendly as well. If there is any integration you think would help your business, we will be happy to work with you to make it happen.

Transparent and affordable pricing is something Payline is happy to provide. Online payment processing costs $20 a month and 0.75% + 20 cents per transaction. Our monthly fee is straightforward and affordable in the industry. Our per-transaction cost is much lower than other processors such as Square or Stripe. Payline also offers a free trial to see if our service works for you for no extra cost.

Customer support is critical to Payline. We offer 24/7 customer service and technical support so your business can always process payments. Also, we will not charge you extra for our help, unlike some other processors. In addition, Payline follows the highest levels of security in the payment industry and is completely PCI compliant. 

Your customers will have flexible payment options so that they can pay for your software with their preferred payment method. This will help your software sales as you can cater to the preferences of a broader customer base. Payline’s goal is to make the entire payment process as easy as possible for your business. We want you to focus on your software sales and improve your business rather than dealing with the hassle of accepting online payments. 

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