Less Integration Friction = Better Payments Experiences

Blog 2022

“Frictionless payments” can be a bit of a misnomer – it can mean different things to different people, depending on where they are in the payment process. While the term often refers to an ideal customer experience, we focus on making sure the ISV experience has as little friction as possible.

The reason?

Long before any customer has the opportunity to make a payment, you must overcome a number of challenges just to bring your solution to market. The more hassle your team experiences, the longer that process takes. Not to mention the impact this type of “friction” can have on the end solution. That’s why we strive to reduce friction for ISVs from the beginning.

How Payroc Reduces Integration Friction

The very nature of ISVs and SaaS providers is to be nimble. You don’t have legions of developers on standby, waiting to customize integrations – at least not in today’s technology environment. And your team expects integrations to be easy, without the hassle of custom coding. Even having to coordinate with multiple touchpoints to deliver an omnichannel solution is considered friction.

For example, let’s say you’re leveraging both card-not-present (CNP) and card-present (CP) payments in your solution. In an “old-school” scenario, that’s two integrations: one that allows a point-of-sale (POS) system to call the gateway for CNP and another that connects to the device for CP payments. Plus, if you’re working with different processors for card payments, digital wallets and ACH payments, those are even more integrations to complete and manage.

Why do ISVs willingly suffer through heavy integration friction when they don’t have to?

At Payroc, our team has developed integration paths with ISVs in mind, giving them the choice between a low-code or a no-code approach.

A Better Approach to Integration

For ISVs looking for simplified coding during integration, Payroc’s PAYBYCLOUD involves only a few lines of code to enable processing for CNP and CP payments – all through the same gateway. No need for a large engineering team or multiple API calls and authentication methods. This seamless, low-code transaction process also makes integration with external accounting and management software easy, so your settlements and reporting processes can be just as seamless.

We also offer a no-code option that allows for a single integration to manage any payment type and settlement engine.

Our new APIs enable the entire payment lifecycle: boarding new merchants, taking and settling payments, reporting, and even handling dynamic funding. Each function has its own API, allowing for ultimate flexibility. Your team can enable just one element or all aspects of the payments process — with no coding.

Solving for Payments Acceptance Friction

Providing a wide array of payment types across all channels is expected in today’s complex ecosystem. The problem is coordination. If your team is spending time coordinating across multiple payment processors and providers for setup and troubleshooting problems, they aren’t working on the tasks that grow your portfolio.

Payroc solves that. As a full-service acquirer and gateway, we can serve as the single source for all payment types and control all aspects of the payment chain to provide the best end-to-end solution. Of course, if you want to work with individual payment processors, you can. But why would you?

Solving for Onboarding Friction

Onboarding is a hassle that’s rife with friction, especially when you’re boarding each merchant manually. Again, the less tedious, repetitive work your team has to do, the more time they can allocate to bringing your business goals to life.

Payroc provides a straightforward and user-friendly onboarding experience that can be automated or handled by our team. It’s your choice: onboard merchants yourself or delegate to the experts.

Solving for Funding Friction

Another significant friction point in the payments process relates to setting up funding and settlement instructions. The complexities inherent to these processes can make initial integration a nightmare – especially with multiple funding destinations. Let’s face it: dynamic funding is becoming the rule, not the exception.

Payroc streamlines funding and settlement processes to alleviate this friction point. Regardless of how much risk or underwriting you want to take on, we can facilitate nearly any type of funding arrangement and payments partner through our platform. This allows you to easily direct funds at a granular level.

Solving for Insights & Reporting Friction

Efficient access to insights and reporting is crucial for gleaning important information such as: which payment types are most popular, what demographic trends impact buying habits, where fraud is happening, as well as other insights. You and your merchant clients also need the ability to self-serve and generate reports independently without unnecessary hassles.

Payroc offers full-scale reporting that can be white labeled to look like part of your solution. Or you can extract data to be leveraged in your own proprietary systems. Specifically, our reporting capabilities can highlight:

  • Total funds available for partner splits
  • End-to-end transaction flows
  • Transactions with minimum processing
  • Authorizations and disputes
  • Status of disputes
  • 1099s and K-9s for automatic submission

Coming Soon: Even Less Friction!

In the very near future, Payroc will offer an even lower-friction option with our “unboxing” solution that will eliminate the traditional complexities of sourcing hardware, configuring encryption keys, and dealing with test cards. Think of the delightful, hassle-free experience of unboxing a new iPhone.

The process will involve gathering information about your solution goals, payment types, merchant and customer profiles, and the environment where devices will be located. Payroc will pre-configure and pre-test the best device for your needs (or the device type you have already chosen) and ship it to your team to just unbox and plug in. Easy, right?

As a full-service acquirer and payments gateway, Payroc solves for an array of ISV friction points across the payments ecosystem. This ultimately leads to a frictionless customer shopping experience and increases repeat business to help businesses grow.

To learn more about selling merchant services with Payroc, contact us.