Weaving payment tools into the applications you build was once seen as a major cost for independent software vendors (ISVs):
- You have to invest more development time to integrate payments.
- Your clients become more exposed to security risk (i.e., fraud).
- You have to worry about payment-related patches and updates.
While these costs haven’t disappeared, the ability to provide a frictionless payment experience allows you to reach a much larger audience. End-users want turn-key solutions, not patchworks of third-party add-ons.
This is why ISVs that enable payments and collections in their builds are often able to find more clients and charge higher prices. However, these benefits are not necessarily automatic. When developing online applications, for example, careful consideration must go into which payment gateways you choose and how to integrate them as seamlessly as possible.
This process isn’t always easy, but the three tips below can put you on the right track.
1. Payment gateway security
Fraud is a big problem in the payment industry. Nowhere is this more pronounced than in the online world, where annual losses from fraud approach $6.4 billion. Some estimates put the number as high as $57 billion worldwide.
Here are some of the reasons why criminals gravitate toward e-commerce:
- Shoppers are mostly anonymous. This makes it difficult to verify the authenticity of card-not-present transactions.
- Payment data is usually sent over unsecured connections, making it easy for thieves to intercept this information.
- The rise of EMV credit cards has made in-person fraud much harder. As such, many criminals have moved their operations online where chip-enabled cards offer less protection.
The payment gateway you choose plays an important role in shielding end-users from fraud. This is because payment gateways are responsible for securely encrypting credit card data before sending this information to the payment processor.
You should choose a payment gateway that follows the latest PCI data security standards, and make certain that whatever solution you choose comes with sufficient encryption capabilities, as well.
2. Payment gateway flexibility
There are a lot of payment integration tools on the market. Even at BluePay, we maintain a large collection of payment modules that work out of the box. These are ideal for smaller businesses that lack the in-house resources to develop their own plug-ins.
As an ISV, however, you want a payment gateway solution that is developer-friendly. This means having access to an open API that allows you to design customized solutions from the ground up — whether you’re developing for mobile platforms, virtual terminals or e-commerce shopping carts.
3. Payment gateway support
If you’re looking for payment handling, there is no shortage of options. With enough time and effort, you can integrate any number of à la carte solutions to provide your end-users with the payment tools they want.
There are advantages to choosing a single provider for all of your payment needs:
- There are fewer interoperability issues since both the payment gateway and underlying processing exist within the same ecosystem.
- Troubleshooting becomes much easier since you need to make only one phone call.
However, keeping everything under the same roof is only the starting point. You should also choose a processor that supports a wide variety of payment options, as well.
How Do Our Payment Gateway Solutions Stack Up?
At BluePay, we develop secure payment processing solutions for a range of business needs — both online and offline. In addition to payment gateways for e-commerce applications, we also support EMV credit cards, ACH payments, mobile payments, virtual terminal transactions and sales generated through interactive voice response.
All of our solutions are PCI-compliant, complete with additional fraud security options for those who want the ultimate protection in reducing fraudulent transactions. We also maintain robust APIs that come with detailed documentation and sandbox accounts for testing.
Finally, we have an entire department dedicated to ISV payments and collections. If you run into any stumbling blocks, our team can get you back on track ASAP.