09 Sep 4 Things Your B2B Software Company Needs in a Payment Integration
To be the best-of-the-best in the realm of B2B software, you’ll need to offer a full-featured, seamless experience that caters to the unique needs of your B2B clientele. A payment integration can boost your organization’s revenue, but it also adds features that help you remain competitive. Sounds great, right?
With the right partner, a payment integration is a win-win situation. But if you choose a provider that doesn’t have access to the tools B2B merchants need, integrated payments won’t help you OR your clients. When working with a partner on integrated payments, the following features should be non-negotiable:
1. Level II & Level III Transaction Capabilities
Credit card transactions are categorized into various data levels based on information submitted at the time of the transaction. The data levels associated with the lowest possible interchange rates, Level II and Level III, are only available to B2B organizations. To qualify for those lower rates, the following must be submitted:
Level II: 5 additional items of data, including: sales tax amount, zip code, invoice number, order number, and customer code.
Level III: 19 additional items of data, including: product codes and descriptions, price per unit, tax rate and type, and more.
For most businesses, collecting and entering all that extra information just isn’t practical. Thankfully, a payment integration specifically tailored for B2B transactions will automatically capture the required data. That means your software can tout the fact that, with you, merchants will pay the lowest interchange rates possible.
2. Access to a Sandbox Account
A sandbox allows you to test and troubleshoot, salvage lost data, and more, all in a controlled environment. If a potential partner isn’t capable of giving you access to a sandbox account, you shouldn’t do business with them. Here’s why:
A sandbox account allows you to assess 3rd party APIs, risk free. A full-featured payment integration typically means multiple APIs for retail, mobile, and online payments, all of them interacting with your own development. A sandbox account empowers your team to confidently deploy integrated payments to your merchants after they’ve been fully tested.
3. Simplified PCI DSS Compliance
A B2B software that reduces the scope of compliance for the businesses utilizing it is a product that will help you remain competitive. Your payment gateway provider should be Payment Application Data Security Standard (PA-DSS) certified, with a full suite of fraud and breach protection features.
But even minimal PCI Compliance requirements can be confusing for businesses not well-versed in cyber security or industry-specific verbiage. Look for a partner with a comprehensive, proactive PCI Compliance program. That means an in-house team will reach out to your merchants to help them achieve and maintain compliance with industry security standards. This can save your merchants hundreds in non-compliance and PCI vendor fees, so it’s a feature your team will want to boast about.
4. Recurring Billing & Invoicing Features
Recurring billing and invoicing, often called subscription billing is incredibly lucrative for B2B organizations, and therefore in high demand as a software feature. More and more B2B businesses are looking to optimize workflows and increase cashflow, and that means making payment as easy as possible.
Automated recurring billing and click-to-pay links for invoicing are must-haves, but it’s vital that those features are accompanied by a secure customer vault. This allows repeat transactions without compromised data or complicated security requirements.
Modern businesses can’t survive without software, but your sales staff might be used to hearing, “Why should I choose your product?” The right payment integration empowers your team to answer, “Why should I choose your product?” with “Because it’s the best. Here’s why . . .”
Ready to learn more? Check out our infographic for 6 things software companies should look for in a credit card processor. If you’re still not convinced, give us a call. We’d love to talk to you about the benefits of our software partnership programs.
BASYS Processing as a business partner
If your processor doesn’t offer seamless integration and an industry-leading revenue share, please call BASYS Processing at (800) 386-0711. Let’s talk about creating a true business partnership that will help you exceed your goals.
BASYS Processing features:
– User-friendly API allowing for seamless integration into your software
– Competitive revenue share with easy-to-read revenue share reports to track partnership growth
– Personalized customer solutions, including automated recurring billing, secure customer vaults, and more!
– A simple application process with the full support of our in-house Boarding team
– 90% + Customer Retention Rate
– Live operator when your merchant customers need support – no automated voice systems
– Dedicated Relationship Manager for questions and concerns
– Proactive contact with every merchant to walk through the annual PCI process
– Track record of successful software partnerships
– Thorough market analysis followed by mutual plans and goals to grow your portfolio
– High-quality service mentality, similar to your own
– Vested interest in protecting your software’s hard-earned reputation
– Open line of communication between BASYS, you, and your customers
– Quick response time for your questions and concerns; you are a priority
About BASYS Processing
BASYS Processing provides credit card and debit card processing services, and solutions that include terminals, virtual terminals, e-commerce, mobile, and point-of-sale, customized to fit any need. Banks, associations, and software partners depend on us to strengthen their reputations and relationships with their customers by providing remarkable service paired with ultimate flexibility and pricing. Merchants depend on us to make accepting credit cards and debit cards convenient, safe & affordable. BASYS was founded in 2002 on one philosophy: to take care of our merchants, partners, and employees so they never want to leave. We are dedicated to working one-on-one with our customers to design the perfect solution. BASYS is Personalized Payment Processing.
Learn more at basyspro.com, and connect with us online at: