Integrated payments are gaining popularity among businesses as they enable seamless transactions and streamlined processes. A 2022 study by the National Retail Federation revealed that 63% of customers prefer integrated payments like Apple Pay and Google Pay. Moreover, with the global ecommerce market projected to reach $8.3 trillion by 2025, businesses are increasingly adopting integrated payment solutions.
Businesses can explore solutions like Usio for integrated payments. Here’s what you need to know about integrated payments, their benefits, and how to set them up with Usio.
What are integrated payments?
Integrated payments occur when a business’s point-of-sale system is connected to a payment processor, allowing for seamless transactions. Customers can use various payment methods without manual processing, and real-time updates of inventory and sales data enhance efficiency.
Integrating this payment functionality into existing software or platforms, such as websites or mobile applications, enables users to complete transactions without leaving the platform.
Integrated payments benefits
Benefits for businesses:
- Enhanced Security: Usio’s integrated payment solutions are designed to secure sensitive customer information, reducing the risk of data breaches and fraud.
- Improved Efficiency: Automation and reduced manual input in integrated payments streamline the payment process, providing robust functionality while keeping costs low.
- Increased Revenue: Convenience and efficiency in the payment process lead to fewer abandoned transactions, particularly beneficial for ecommerce businesses.
- Better Data Management: Usio’s integrated payment solutions offer valuable insights on customer behavior, payment trends, and real-time updates to inventory and sales data.
Benefits for customers:
- Increased Convenience: Customers can make purchases directly through the company’s website or mobile app without navigating to a separate payment portal.
- Flexibility: Various payment options, including credit and debit cards and digital wallets, provide flexibility for customers.
- Improved Security: Sensitive payment information is processed within the company’s secure systems, enhancing overall security.
- Easily Accessible Information: Detailed receipts and purchase-history information are easily accessible, aiding in expense tracking and budgeting.
Alternatives to integrated payments
While integrated payments offer numerous advantages, some businesses still use historical alternatives:
- Manual Payment Processing: Time-consuming and prone to errors, manual payment processing involves inputting payment details by hand.
- Hosted Payment Gateways: These require customers to leave the business’s platform, disrupting the user experience and potentially leading to cart abandonment.
- Standalone Payment Processing Software: Inconvenient and prone to errors, standalone software requires businesses to switch between applications to complete a payment.
Integrated payments outperform these alternatives in terms of convenience, efficiency, and security, providing a superior customer experience and increasing revenue.
How to set up integrated payments with Usio
Usio offers businesses a comprehensive, growth-optimized payment platform. To set up integrated payments with Usio, follow these steps:
- Sign up for a Usio account: Provide necessary personal and business information, a valid bank account, and a government-issued ID.
- Access API keys: Log in to your Dashboard, navigate to the Developers section, and find your API keys to authenticate your account.
- Integrate the Usio API: Add code to your checkout page, enabling communication with Usio API to process payments.
- Test your integration: Make test payments through your website or mobile app to ensure everything works correctly.
- Enable live payments: Once satisfied with the testing, enable live payments through your Dashboard or seek assistance from the Usio team.
Usio provides a range of libraries and SDKs for different programming languages to simplify the integration process. For more information and to explore how Usio can meet your specific integrated-payment needs, start here.
About Usio
Usio, trusted with billions of dollars in transactions, is a leading fintech payment solution. The Usio Platform delivers the most secure, simple and cost-effective integrated payment experience for our partners and their customers. Plus, Usio holds the unique distinction of being in business for more than 25 years and is just one of few who is Nacha Certified.
Learn more about Usio Integrated Payments Solutions at usio.com/integrated-payments/.
