Payment solution certifications are notably one of the biggest pain points for Independent Software Vendors (ISVs). Terminals and mobile card readers are getting more flexible, checkout methods are becoming more varied and retailers are looking to expand their offerings to include new options like NFC/contactless and QR codes. In the midst of all this change, ISVs feel the pressure to develop and certify a broader range of solutions for the industries they serve.
Payments are a major part of retail - and they’re constantly changing. Payment acceptance devices need replacement, software requires upgrades and keeping up with fluctuations throughout the industry can be a challenging task. Frequently, for merchants, there are many questions to be answered when it comes to payments and hiring a dedicated payments expert to answer them can be a significant financial undertaking.
Convenience, flexibility and the ability to address unique retail environments are strong selling points for ISVs trying to bring mobile POS solutions to their merchant customers. But there are some challenges in getting to market in a timely way.
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:
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.
