Most companies define integrated payments as the ability to accept payments directly through your software. Payment types are typically credit card payments but also can include debit card and payments made directly from a checking account via ACH. Wind River takes it much further than simple enablement.
With Integrated Payments Come Opportunities for Growth
Yes, integrated payments provide a convenient way for your customers to accept payments from their consumers. Looking beyond customer convenience, integrated payments can bring a great opportunity for you to create revenue and grow your business.
To achieve this, you need to approach integrated payments as a strategy, not as a feature/function. The strategy you choose needs to be based on the goals of your company, your business needs, and the needs of your customers.
Examples of strategies include:
- Create a new source of revenue that can fund internal projects and added staffing
- Introduce tiered versions of payment capabilities
- Use payments as a way to transition your customer to a maintenance program