Integrated payments remain a relevant trend within the payments industry. In fact, the integrated sales channel is expected to grow at ~2x the overall market. With a majority of growth projected to come from integrated and online channels, software vendors are expected to play a much larger role within the payments ecosystem.
Software is quickly becoming a driving force behind commerce, which is why TSG and RSPA surveyed software vendors in mid-2023 to learn about their awareness to payments, the model they use, drivers of monetization, and satisfaction with relationships.
A Software Company’s Decision to Partner on Payments is Complex
- The ISV must track what features and functionality (e.g., card not
present, offline mode) will meet their merchants’ needs. - The processor’s reputation and record for technical support and customer service must be evaluated.
- A transparent pricing model is considered attractive, and economic benefits must be considered to ensure a sustainable business model.
- The level and quality of integration will need to be taken into account, with an embedded solution preferred for a seamless process.
- The decision-maker must also confirm the processor serves relevant markets and verticals.
Fueling Growth
We help both software companies and payment providers provide clarity to the complex. Whether a software company needs to understand the nuances of monetizing payments, or payment providers are seeking attractive verticals and the entities in the space, TSG can connect the dots to drive new revenue. Let’s start the conversation.