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In the latest episode of PayFAQ: The EmbeddedPayments Podcast, Ian Hillis speaks with Brad Pinneke , VP of Business Development at Payrix and Worldpay for Platforms, about one of the most important decisions software companies face today: choosing the right payments partner.
Andy Meadows, the Head of Partner Success at Payrix joins host Ian Hillis to continue their conversation about building a successful EmbeddedPayments strategy. As the last episode of a four-part series on the topic, Andy and Ian tackle how software companies can minimize attrition and why it’s important to the payments conversation.
In a recent interview with Austin Prey from PYMNTS , Adam Gray , Chief Transformation Officer at Stax, shared his perspective on the challenges and opportunities facing independent software vendors (ISVs) as they integrate payment solutions to meet the diverse needs of their merchant customers.
You’ve decided to offer EmbeddedPayments to your customers. Adding EmbeddedPayments gives you an exciting opportunity to grow your business and solve real pain points for your customers. However, to capture success you’ll need to promote your new payments offering with customers and prospects. Congratulations!
For companies handling high volumes of transactions, traditional payment systems often lead to inefficiencies, hidden costs, and unnecessary complexity. Integrated payment solutions offer a streamlined approach, helping businesses cut costs while boosting revenue.
Software companies embark on their embeddedpayments journey only to discover they’ve underestimated the complexity that’s involved and struggle to launch. If you’re thinking about EmbeddedPayments for your platform, make time to listen to this episode of the PayFAQ EmbeddedPayments podcast.
In this landscape, embeddedpayments have become a great way for SaaS companies to provide value-added services on top of their core offerings to customers. With the plethora of options available, choosing a payment provider and integrating payments into your existing SaaS product can seem daunting.
EmbeddedPayments have become a popular initiative among vertical specific software companies looking to deliver a more seamless customer experience, introduce new revenue into the business, and stay competitive in today’s digital world. How do they think about attaching payments to those existing customers? But where to begin?
In todays competitive software market, forward-thinking trade and field service platforms are no longer asking if they should modernize their payment infrastructure, theyre working diligently to source the right payments partner to implement innovative solutions before their competitors beat them to the punch.
On top of that, look for a payment provider that offers clear API documentation and integration support to reduce the time spent on configuration. Transaction fees and pricing models All payment service providers charge a fee for their services. Qualified payments have the lowest rates.
Refine your pricing strategy over time Pricing isn’t a one-and-done decisionit’s a growth lever that evolves with your product, customer segments, and market conditions. Pricing is a living strategytest, iterate, and align it with your customer’s success.
If youre a software provider looking to boost revenue, streamline operations, and deliver more value to your users, ISV integrated payments can be a game-changer. Embeddingpayments directly into your platform can unlock tremendous benefits both for you and your users. Can you set custom pricing for your merchants?
Navigating the world of payments can be complicated, especially when you’re running a software business with many moving parts. Embeddingpayments is a great first step, but encouraging merchants to adopt payments and onboarding them is another hurdle many ISV/SaaS businesses run into. So, how do you bridge this gap?
Did you know embeddedpayments can increase a software provider’s income? They turn payments into a new source of money. B2B payment transactions exceeded 15 billion in 2024 , with digital payments now making up 85% of transactions. Embeddedpayments are a game-changer. billion in 2023 to $291.3
Interested in learning more about software-led payments or joining the current EmbeddedPayments conversations in your organization? This blog post is your ultimate guide to understanding the most used payments terms today. Youve come to the right place.
In the fast-evolving world of software, EmbeddedPayments have emerged as a crucial element for software companies aiming to grow their business, enhance customer experiences, and streamline transactions for consumers. The fintech landscape is rapidly evolving, with Embedded Finance products and services on the horizon.
John Durrett General Manager of Payments, Storable Consolidation Was the Goal for Storable Offering embeddedpayments within the Storable platform was a no-brainer, since 60-80 percent of payment volume from storage facilities is completed using cards. It translates into value for our customers and for our shareholders.
As a SaaS CEO, understanding and implementing integrated payments can be a game-changer for your business. Here’s why Usio should be your go-to solution for Integrated Payments. Usio simplifies the transaction process by embeddingpayment functionalities directly into your platform.
Fees and transparent pricing were also an important factor for choosing Payrix. Nick said other payments companies he talked to have absurd fees that he couldn’t afford to absorb or pass on to his clients — he didn’t want them to feel nickel-and-dimed. They want to see me in my house, with my pets, and in a hoodie. It’s relatable.”
Pricing is a fundamental part of any go-to-market strategy—one that significantly impacts your bottom line whether you’re selling goods or services. So, understanding how transactions are priced is a must for anyone looking to optimize the revenue they earn from selling payments on their platform.
There are several examples of embedded fintech, including: EmbeddedPayments Many customers would rather not take out a credit card and enter its details every time they’re about to make an online purchase. Embeddedpayments solve this by saving a payment method for easier digital transactions.
This turned out to be about as simple as setting up a new product SKU on their site that was marked as a subscription, outlining the attributes of the subscription (in their case, annual as opposed to monthly), and setting the price on the product.
SaaS companies use subscription-based pricing models so customers are aware of how much they have to pay month-on-month. Generally, pay-as-you-go pricing options are available so you pay only when you use the software. As such, SaaS payments are one sector that is estimated to grow significantly in the coming years.
Talk to sales Let’s start at the beginning Stax—then called Fattmerchant—launched in July 2014 and was immediately viewed as a disruptor in the payments space due to its subscription-based model and transparent pricing for SMBs. “I’ve been at Stax for 8 years now. Stax Processing Another key goal for Stax?
There are various methods to consider, such as bundling payments into existing plans, offering payment capabilities as an add-on, or payment enrollment. You also should evaluate your pricing strategies, some of which include value-based pricing and cost-plus pricing. First, start by gathering some key data.
Go to the website of any well-known payment provider like Square or Stripe, and you’ll find pricing clearly outlined. Merchants can easily find the information they need so they can get a good idea how much they’ll pay for payment processing. These days, paymentpricing is pretty transparent.
Read more: SaaS Pricing Trends to Boost Sales & Revenue in 2024 A Quick Recap of Developments in the World of SaaS till 2023 The growth of micro-SaaS tools is one of the most significant developments in the SaaS space through 2023. The Advent of Embedded Finance: Embeddedpayments are a top payment trend for 2024.
3 Additional Xsolla Competitors Stripe Stripe is a well-known DIY payment processor that enables businesses to accept credit cards, debit cards, and mobile payments. Coda Payments Coda Payments is a Singapore-headquartered competitor to Xsolla that enables video game companies to accept payments globally.
Interested in learning more about software-led payments or joining the current EmbeddedPayments conversations in your organization? This blog post is your ultimate guide to understanding the most used payments terms today. Youve come to the right place.
In contrast, embedding the payment gateway makes it a part of your websites infrastructure, ensuring buyers can complete payments directly on your website. Stax Pay offers an embeddedpayment gateway you can easily incorporate with your website using the Stax API.
You can also accept many payment types, like credit cards and digital cash, without huge upfront costs. Global embeddedpayment revenue is expected to reach $59 billion by 2027. It shows how important it is for companies to own their payment flows today. 73% of SMBs now add payments to their software, keeping customers.
Why Do Businesses Look for Stripe Connect Alternatives Businesses often seek Stripe Connect alternatives to explore different pricing models, enhance customization options, or address specific operational needs that better align with their goals. This helps companies manage costs more effectively while growing their operations.
On the surface, these companies often offer similar services at comparable prices. In fact, the number of options – from small, specialized companies to big, well-known names offering many services – can make choosing providers somewhat overwhelming. But that doesn’t mean they are all.
Some of the changes we’ve seen in the last year or two include: CAC reduction Headcount optimization Price complexity Quality of revenue A different environment means a different strategy, and Notion Capital lays out four business model changes that could be helpful based on what peers are doing. Then, usage-based pricing took off.
Allow unlimited “steering” and embeddedpayments from third-party payment platforms. Both Google and Apple place severe restrictions on the ability to surface prices and purchase options that are supported by third-party payment providers outside the app stores. 0% fee for steering and embeddedpayments.
There are numerous ISV companies that integrate payments. From software geared towards field services to medical and patient management platforms, these ISVs recognize the value of embeddingpayment processing capabilities directly into their applications. Pricing and transparency. In reality, it can be a bit trickier.
While payment initiatives may vary from one SaaS platform to the next, their journeys often share common milestones. You first need to set up the proper infrastructure to enable embeddedpayments; from there, you’ll want to launch smoothly. Then, as you scale your payments program, you also need to think about growth.
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