If you’re running a software company, you need a reliable payment solution that lets you collect money from your clients. As you explore your options, think about these three ways that a payment API can add revenue to your business.
You Get a Payment Solution That Helps You Retain Customers
Today’s consumers expect flexible payment options. Your business needs a solution that can accept a variety of credit cards, including American Express, Mastercard, Visa, Discover and more.
Not all of your clients will want to pay you with a credit card, though. Some will prefer transferring money directly from their bank accounts. An ACH Debit feature lets you withdraw money securely from client accounts. With IntegraPay, your clients can use one-time payments recurring payments to make sure they always settle their accounts on time.
Earn More Money With an Incremental Revenue Stream
A payment API can do more than help you retain customers and grow your customer base. It can also give you a chance to earn more money from an incremental revenue stream.
With an incremental revenue stream, your software business earns money from the payment transaction fees that come from your customers. Instead of always giving money to your payment processor, you get to generate income from the payments you process.
With a payment API, the amount of money that you earn from your incremental revenue stream depends on how much money your customers spend. As your software business becomes more successful, you’ll earn additional money that you can reinvest to grow your company and develop new products.
Protect Your Clients with PCI Compliance
You have undoubtedly read reports about data breaches that harmed business reputations. Some of the biggest breaches in 2018 include those that affected Sears and Kmart, two companies that are struggling against the odds to stay in business.
PCI compliance from a payment API helps ensure that you protect your clients’ private data, including their credit card and banking information. Without strong security features, a data breach could damage your reputation and encourage your clients to look elsewhere for the products and services they need.
Growing your software business’s revenue makes it easier for you to stay ahead of competitors. Learn more about the benefits of a payment API by contacting IntegraPay.