3 Payment Technology Trends ISVs Should Keep in Mind

The continuous evolution of technology and the payments industry leads to new and improved solutions to business problems. As an ISV, it is important to be aware of what’s happening in the industry and how new solutions can contribute to your business. Don’t stress, we’ve done the work for you—now you just need to decide which trends to execute on. Here are three trends happening right now and how they could boost your business as an ISV:

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Is Your Payment Technology Partner Up to Snuff?

Innovative applications that integrate payment acceptance simplify one of the most critical business processes – accepting electronic payments. If retail stores today had to constantly switch between their POS app and the one that accepts payments, the margin for error is likely to increase. Staff can become inefficient causing delays in checkout, billing inaccuracies could increase, etc. But most importantly, it will affect the shopper’s overall experience.

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Chip is In, Swipe is Out…Almost

2015 was an interesting year in the U.S. payments industry. Counterfeit credit cards were on the rise and every business that accepted payments was panicking about something called the “EMV migration.” ISVs that provided payment acceptance solutions to their customers were also in the same boat and were trying to figure out what the next step is for them. It has been over three years since and it brings up the question we all have in mind – is EMV helping? A recent report from Visa provided insights into the efficacy of the migration in the U.S.:

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Look for These 5 Things While Searching for a Payments Technology Partner

For an ISV, ISO or VAR, bringing an innovative point of sale (POS) solution to the market quickly is a big priority. However, an obstacle for many of these businesses is that their core competency is developing POS solutions and not in payments and the required technologies.  Merchants of all sizes, across every vertical, expect their POS solutions to not only meet their payments needs but also enhance the overall customer experience. That’s why it is important for ISVs, ISOs and VARs to work with a payments technology partner that enables them to easily develop these solutions while at the same time assists in delivering an innovative POS experience.  When partnering with the right technology partner to handle these various barriers, developers are able to focus on their core competency – creating innovative business applications.

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5 Things to Look For in a Payments Technology Partner

Keeping up with the changing needs of the payments industry in the U.S. can be challenging, especially if you’re an ISV, ISO or VAR and new to the payments space. To deliver strong solutions that meet merchants’ needs, it’s important to work with a payments technology partner that complements your business and makes it easier for you to get to market. Your business needs a trusted, strategic partner that can provide comprehensive and innovative point of sale (POS) solutions and services that eliminate payment complexity.

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