You integrate a payment API to enhance the functionality of your software system. In turn, your business and customers enjoy residual benefits. For your business, you save time and money you would have spent building a payment function from scratch and going through the process of PCI certification. For your customers, it eliminates the need to search for payment services and provides a streamlined workflow for collecting payments and utilizing your software.
Though nearly all payment APIs provide these benefits, not all are made equally. Because integrating with a payment API is a developmental undertaking, though still much simpler than building your own, it’s important to consider what else you will get out of it.
As an engineering firm specializing in financial software, we know companies need more than just a payment API to boost their product, increase their client base and maintain customer satisfaction.
Here are six benefits you should get out of your payment API:
- Dedicated Support: You should have a point person, or in some cases a team, to provide support and maintain the integration. You’ll never have a question go unanswered or a bug go unaddressed, nor will the responsibility fall back on you and your team. You can focus on your own software and rest assured that the payment side of your product is being maintained.
- Continued Development: The team behind the API will be dedicated to continually developing the integration to improve its functionality. They’ll build and integrate new features your customers request and stay ahead of the market by rolling out new features expected to be of high demand. For example, many of PayJunction’s integrated partners have a need to collect non-payment signatures. To fulfill that need, we are about to roll out a new non-payment signature API.
- Security Assistance: They will help you stay up-to-date with security requirements like annual PCI audits and TLS protocols. This takes a huge weight off your shoulders, as the work to maintain these requirements can take months away from your team every year. Integrating with a proprietary payment API that bypasses middleware also means fewer security responsibilities for your team and fewer costs related to security maintenance.
- Improved Customer Experience: Your customers will experience white glove treatment and should have a dedicated support team to address the API’s service. By integrating with PayJunction’s payment API, for instance, your customers would have unlimited access to our in-house, U.S-based support team, which won a 2018 Gold Stevie® Award for Customer Service.
- Increased Market Demand: Integrating with a comprehensive payment API makes your product more marketable compared to competitors. Not only are you offering more functionality to your customers, but more resources as well. When you integrate with an ethical payment provider, your customers will benefit from fair pricing, unbiased industry updates and unparalleled service.
- Marketing Support: Payment API providers want their integrations to be successful. An ideal payment API provider will allocate marketing resources to promote the new integration, publicize any developmental updates and maintain advertising efforts.
Integrate with a payment API that will invest in a lasting partnership. You’ll receive constant support, improve your business model and make your customers even happier with your product.
Which payment API does your software integrate with? Tell us how it compares to the ideal payment API we described. You can start a conversation in the comments section below!