selecting the right payment technology partner for your software business

Selecting the Right Payment Technology Partner for Your Software Business

As a software provider, you’re on a continuous quest to deliver built-in, value-added solutions to your software customers.

Usage

Loyalty

Retention

Value-Added Solutions

Payment technology that’s directly integrated with your software enhances efficiency and data security for your customer base.

But how do go about choosing the right payment technology partner for your software business?

Where do you even begin?

MAKE SURE POTENTIAL PARTNERS DELIVER ON

COMPONENTS5

Level One PCI Certification

#1

Companies that are Level One PCI certified go through regular audits to ensure they are complying with the Payment Card Industry Data Security Standard (PCI-DSS).

Companies with Level One PCI certification must comply with the most stringent certification requirements to ensure your payment data is safe and secure.

By working with a Level One PCI-certified payment technology provider, you can reduce or even eliminate your own PCI compliance requirements.

Did You Know?

When using solutions like credit card tokenization, payment data is passed and hosted on the payment technology provider’s secure, PCI-compliant computers.

Sensitive data isn’t hosted or stored in the point of sale software which takes your software company out of PCI scope.

#2Advanced Data Security Measures

A 3-prong security approach provides the highest level of protection for both online and in-person payments.

3-Prong Security

Tokenization

EMV

P2P Encryption

Safely stores payment data needed for recurring payments by replacing the payment data with a unique identification code

1Reduces card fraud resulting from counterfeit, lost or stolen cards

2 Encrypts data from the moment it enters the point of sale software

#3Payment Gateway Services & Merchant Accounts

Your software customers will need a payment gateway — a secure portal that transmits customer payment information to the payment processor for authorization and settlement.

Your software customers will also need a merchant account (a separate bank account) to take credit card and debit payments.

Typically payment technology providers offer gateway accounts through a separate third party, and merchant accounts through yet another provider.

Constellation Payments offers both gateway services and merchant accounts — providing one source for all payment technology and support.

Did You Know?

#4Comprehensive Integration Process

Your provider should have a comprehensive integration plan — so that you know exactly what is involved and what is needed to successfully integrate your software with the payment platform.

Software development kits (SDKs)

Application programming interfaces (APIs)

Thorough integration documentation

A designated integration team that works with you from start to “go live”

Things to look for in an integration plan:

#5Revenue Sharing Opportunities

A significant amount of additional income can be generated through your partnership with a payment technology provider that also offers merchant services.

Be sure to ask about revenue sharing opportunities.

Revenue Sharing

Have questions about selecting a payment technology provider? …

How Constellation Payments can assist you as a single-source provider for all your software-integrated payment processing needs? …

Call 888.248.7060 or send an email to sales@csipay.com.