What to Look For When Searching For an Integrated Payments Provider

Finding the right integrated payments provider can be a daunting task. There are many factors that determine whether a provider is a good fit for you or not. Here are a few things you should be looking for when searching for an integrated payments provider.

Payment Requirements

Of course, your payment-related requirements are some of the most important. Here are a few examples of what you may need from an integrated payments provider:

• Does the system allow you to take variable payments (credit, debit, ACH etc.)?
• What is the process for signing up new customers?
• How long does it take for a merchant to go live?
• How much control over the user experience will you, the software provider have?
• How often are funds settled in merchant accounts?

Answering these questions will help you understand whether the solution provider is right for you. Everyone has different requirements. For example, you may prefer a more managed user experience for the sake of simplicity. Alternatively, you may want full control over the entire process.

Other Functional Requirements

Functional requirements beyond payments are also important. Consider the technical requirements of your project and the constraints of the integrated payments provider. You may have specific API functionality you need. Additionally, your customers may need to process in real-time or batch daily depending on their business needs.

Non-Functional Requirements

Remember also your non-functional requirements such as cost, financial flow and security. While these may be softer needs compared to your functional requirements, they still need to be considered. Try to understand how the integrated payments provider will fit into your overall business workflow.

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 We at Paragon Payment Solutions, are a powerful but easy-to-use integrated payments provider. Click here to learn more about our comprehensive suite of payment solutions.