Integrated Payments 2020
Everything Integrated Payments for 2020
Integrated payment solutions are the backbone of modern commerce. As it has been for many years, with, the decreased use of cash and an immediate satisfaction economy, consumers and businesses alike are continuing to look for simplicity, convenience and security with their transactions. In 2020, at Paragon Payment Solutions we see even more opportunity than ever for independent software vendors to streamline their development add more innovative payment features and their solutions to market quickly and securely by leveraging a payments partner.
Payment Facilitation & Like Programs
ISVs are seeking more and more control over the payments process. The need and desire for payment facilitation and managed payment facilitation programs will not be slowing down in 2020. ISVs looking for complete power over their payments program will be seeking to become payment facilitators. This means owning every aspect of the payments cycle from onboarding to funding. For ISVs that do not want the risks and liabilities associated with traditional facilitation programs they can become a managed payment facilitator and receive the benefits of frictionless boarding and instant auto-approvals.
Cardholder Data Security
Cardholder data security will always be a top item. With 4.1 billion records exposed in the first six months of 2019, ISVs will continue to leverage scope reducing technologies such as P2PE and tokenization. With PCI DSS 4.0 on the horizon and focusing on authentication, encryption, monitoring and testing, the importance of protecting cardholder data will remain at the forefront.
White Label Payments
Both ISVs and Merchants want a seamless transaction experience. And while payments are seamless on the back-end as they traverse through the payments landscape, white-labeling the front-end to match a software provider’s brand has become increasingly popular. Benefits to the ISV are, brand recognition, flexibility in the customer experience and keeping the user experience consistent. The Hosted Payments solution will continue to be a popular way for ISVs to achieve a simple white-label payments solution.
Let us guide you through 2020. Contact us today!