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Payment Processing Integrated with Software. What are the benefits of integrating software with payment processing?
First of all, it is beneficial to the software company’s clients. Payments are such an integral part of their business that it makes so much sense to have payments integrated, making it easier for clients to set up their system for the collection and recording of payments. The integration also allows them to reconcile the day’s income seamlessly compared to reconciling to a secondary system, like a credit card terminal, outside of their software.
Second, it is beneficial to the software company’s clients because it allows for one-stop shopping for their client’s payment processing needs. One-stop shopping for value-added services benefits the software company and its clients. It is the same reason that software companies also integrate their software into QuickBooks and marketing engines. The software becomes more valuable if it integrates with other business systems that their clients need and utilize.
Third, the integration provides the software company an additional source of income, because many payment processors who do software integrations, share the residual income from the processing with the software company. They can afford to share this income because they don’t have to spend money looking for sales leads. The software company acts as a salesperson by referring their clients. The extra income generated may allow the software company to keep its license fees more competitive.
Fourth, the processing company can provide payment processing support, and service for the software company’s clients. When the systems are separated, many times the client calls the software company for support for payments, not realizing that they are dealing with two separate companies. Customer support for merchant services becomes a one-stop service call when these two systems are integrated, saving clients time and frustration.
Speaking of customer support, when choosing a merchant services provider to integrate with your software, the support can be a benefit or a harmful hindrance. If the processor chosen has a support department at 1-800-IGNORE-ME, in other words, they don’t have good backup support for the software company, then the software company can lose clients. On the other hand, when a processor with strong customer care is chosen, then it boosts the sales and retention of clients.
Electronic Money Company is the opposite of 1-800-IGNORE-ME. Once people switch to us, they stay for the life of their business. This support provides stickiness for our software company clients. Consider checking out our white-glove customer service and support by calling our support line at 1-505-296-2847 and reading and listening to our other blogs at ElectronicMoneyCompany.com/blog.
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