Processing payments seamlessly is a must for any business, but to start accepting payments, the road to setting up the process required to allow you to do so usually means long-winded applications. Not only this, but depending on the nature of your business, there can be the need for complex payment gateway integrations to connect existing systems. Carrying this out can be challenging, though.
However, with the right payment partner who offers the right support, you can experience seamless merchant account onboarding for yourself, and offer the same for your customers. We explore what a seamless onboarding experience looks like and how sophisticated payment gateway integrations can help, before unpacking how a partner like CardChamp makes onboarding easy for businesses and their customers.
Automated vs traditional onboarding processes
Onboarding with a payment processor has traditionally been a time-consuming process for businesses and payment service providers alike. Not only does the initial application process take a significant amount of time to complete, but once the application has reached the payment provider, processing it, doing necessary KYC, due diligence and underwriting checks, and finally accepting the customer takes even longer. From the time you’ve identified a suitable payment partner for your business needs, to the point when you can actually start accepting payments, can take months.
Luckily, automating the application process has made onboarding much quicker. Automated onboarding consists of an online application system used to apply for payment processing support, which also helps payment providers better understand the applying business, and therefore review and approve their application more quickly.
This, in turn, makes onboarding merchant clients more efficient, so independent and small to medium businesses who need a ready-to-go solution that doesn’t require an API can help their customers start processing payments quickly.
For businesses like software vendors that require payment gateway integration, payment-processing go-live can take longer. However, with automated application processes, already available out-of the box APIs, and on-hand support for more complex API requirements, they can also enjoy a much quicker onboarding process than what’s traditionally been the norm, and get their own customers set up for payment success sooner.
Features you should expect from a good onboarding process
An automatic, well-designed and easy onboarding process is a sign of a good payment gateway solution, and a good payment services provider, overall. Here are the key features you should look out for when considering onboarding with a payment partner, as these will give you a reliable indication of their services and capabilities, and whether they can help you support your own customers’ needs.
Easy signup process
A complex sign-up process usually means that all of a service provider’s processes are complex, so look for a signup process that’s quick and straightforward, with as few form fields to complete as possible. Bonus points if the signup process integrates with existing systems like banks and email accounts, so your data can seamlessly be added with a single click, rather than needing to re-enter your information ad nauseam.
Application consultation
To ensure you get the right solution for your business, the payment provider should also offer an application consultation where they get to know your specific requirements. Questions that you should be asked during this consultation include:
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How do you currently accept payments from customers (credit card terminal or POS system, for example)?
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What are your payment needs? (From here, a thorough needs analysis should be carried out to identify your goals)
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What are your current payment processing fees? (A good payment service provider should be able to assess your current fees and either offer lower fees or competitive pricing programs)
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Do you need to use specific systems or technology that require payment gateway integrations?
Human support/customer service
While automated systems make it easy for you to complete the onboarding process yourself, your payment service provider should always have human support available to walk you through any unclear steps or requirements. This additional hands-on support is also useful once you’ve onboarded and need dedicated customer services for any issues that can arise with your payment processing system or payment gateway integrations in future.
Flexible pricing plans
When evaluating your payment partner’s pricing plans, it’s important to look for plans that are flexible/can be negotiated, and that are transparent and inclusive of all fees like gateway fees, for example. Payment partners like CardChamp consider your payment requirements, like whether you’d like to pass your processing fees on to your customers, and then provide a pricing plan that aligns with your needs.
The option to integrate with your existing systems
If you’re a software vendor, for example, and you use existing systems and technology that your payment gateway needs to integrate with, then you need to ensure your payment partner has the ability to integrate their solutions with your existing tools, to avoid disruptions to your customers. Having the option for hands-on support from your partner to implement the payment gateway integration means that your onboarding (and therefore, that of your customers) will be seamless.
How CardChamp provides seamless onboarding
At CardChamp, we’ve made the onboarding process as seamless as possible for our customers, thanks to our great customer support, quick application process, transparent, upfront pricing plans and easy-to-follow onboarding process steps.
Our onboarding process includes the following steps:
- You apply online for CardChamp services with our electronic application which takes less than ten minutes to fill out, or get in touch with one of our team members for a consultation to through this.
- Your application is automatically reviewed by our system and immediately goes through mandatory underwriting procedures. If your application information is correct, your account can be approved and set up on the same business day.
- If you’re looking for lower payment processing fees, we assist with an in-depth fee assessment (optional).
- If you require payment gateway integration into an existing system, we offer dedicated consultancy sessions to understand the complexity of your needs (optional).
- You then evaluate our transparent, flexible price offering.
- Your account is then set up (for free) and your business is ready to start securely processing payments with CardChamp, without any contract lock-in!
If your business doesn’t require a fee assessment or payment gateway integrations, the above six steps become only four, and you can start accepting payments the same day you apply with CardChamp!
How CardChamp’s Payment Gateway Integration can streamline onboarding
For SaaS businesses and software vendors that do require payment gateway integrations, we’ve developed sophisticated APIs that enable them to seamlessly integrate our solutions with their existing systems, which makes for a streamlined onboarding experience for their customers.
Our REST payment APIs allow your own systems to accept all payment types and enable you to create your own customer experience that’s in line with your business standards. Additionally, when you join the CardChamp family, you receive access to our full set of APIs, so your CardChamp solutions can always seamlessly integrate with your existing environment.
How CardChamp will support you with the integration process
We offer three levels of payment gateway integration support ranging from do-it-yourself to done on your behalf. This way, whether you’d like to go at integrating your systems yourself, or would like a bespoke integrations solution built just for you, we have the support you need.
Our do-it-yourself option comes with plug-and-play integration solutions, such as ones that allow you to set up a payment page on your website. We can also work side-by-side with you to create a custom solution that doesn’t require any hardware but gives you access to the necessary API keys to get going. Alternatively, we can offer a full hands-on approach where we create a tailored enterprise system for you, in accordance with your business needs, that ensures the software solution is compatible with your payment system from the start.
Whatever your payment gateway integration needs, CardChamp has the solutions and the support to get you, and your customers, processing payments effortlessly. With our fair pricing, consistent customer service, and flexible APIs, you can be sure of a seamless onboarding process and a smooth payment processing experience from day one.
