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Two prominent solutions that have emerged in recent years are integrated payments and Payfac-as-a-Service. This data can be invaluable for businesses in making informed decisions and optimizing their strategies. This relieves businesses from the burdensome task of navigating complex compliance requirements.
ISVs can choose their level of involvement in their own payments infrastructure by implementing software-led payments that aligns with their goals, needs, and broader payments strategy. Learn more about PCI compliance management. On the other end of the spectrum is payment facilitation (PayFac).
Many technologies and services are involved from POS terminals to card networks to payment gateways so its essential that the payment processor can work closely with them to help authorize and settle every transaction as securely, efficiently, and quickly as possible and stay in compliance with regulations and industry standards.
Among the most recent strategies proving successful for software companies is Embedded Payments. Compared to other strategies to generate additional revenue streams, Embedded Payments offer a streamlined path for pulling in new income. How can software companies embed payments?
This blog post will shed light on the risks associated with adding payments to your software, and ultimately, help you determine what payment model makes the most sense for your unique vertical and business strategy. We will explore the risk s in more detail in the next section. What is PayFac-as-a-Service?
We’ve outlined these six steps to help you easily create your path forward and implement an Embedded Payments strategy designed to elevate your software. Step 4: Address security and PCI compliance One of the most critical pieces of embedding payments solutions is understanding the responsibilities of payment security and PCI compliance.
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