Introduction

The first subject that arises here is what integrated payments are? It is indeed an inclusive term but summing it up in the shortest explanation possible, integrated payments are those processors of payments that are embedded in software programs used by companies and businesses like customer relationship management (CRM), accounting and payroll, etc. In this way, customers will not be redirected to others, or we can say that third-party payment processor. The payments will be processed through an embedded payment function.

There are various reasons why ISVs might choose to avail themselves of the option of adding an integrated payment solution into their software package. Overall the main purpose of ISV banking and financial services is to optimize the operations that go at the back end to keep harmony embedded within the system.

Advantages of integrated payment solution for ISVs

Here are some of the reasons why Independent Software Vendors’ payment can be said as the right move, as they provide value for not only ISVs but also for merchants as well as end-users.

Security is improved for end users –be it, anyone, the biggest concern in this world of technology is cyber security. Whenever a customer is redirected to a processor which belongs to a third party, there are high chances that the sensitive information is at risk. The entire collection of data can either be private or financial. When ISV payments are combined with security measures that are improved, then the overall security is enhanced. It gives peace to the users as well whenever a transaction is made.

User’s experience is enhanced –in addition to the above benefit, an integrated payment solution can also be really helpful in enhancing the overall experience of the users. It ensures that on the same page, customers are able to get almost every possible thing, like checkout, information regarding payment, and details about their complete purchase. It comes off as the stark contrast compared to the payments that are done in multiple steps sending customers to different sites and pages every single time.

 Efficient and quick for users –if a merchant or a user is handling his or her account manually, then the aspect of an integrated payment solution can provide them with great improvement. It helps them to get paid quicker and easier. It helps in saving automate payment records. Eventually, it reduces time and labor.

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