SaaS Payment Processing Ten Questions to Ask When looking at solutions

The reason why a business selects only SaaS payment processing service over an alternative?

When I've had conversations with developers of software and chief tech executives throughout time, I've noticed the difficulty of this tech stack choice is to choose.

We would however like to speak directly with the software engineers and technical experts regarding the aspects you need to think about before deciding on SaaS payment processing services.

What's wrong? Conversion optimization options? Integrations? API documentation? API documentation?

We surveyed a select group of SaaS creators and software engineers about what they're looking for in their search for various solutions. These are:

• Control of subscriptions
• Options for payment
• Preventing and detecting fraud
• PCI Compliance
• Converting currencies
• Localization
• Sales tax, VAT, and VAT

The following are the top ten frequently asked questions that were asked over and over again in the course of our conversations.

Assessment Checklist: 10 Questions to be addressed by SaaS Payment Processing

1. Are you sure? PCI-compliant?

According to the report for 2020, in the Verizon Payment Security Report it is revealed that only 28% of companies that were surveyed were able to meet The Payment Card Industry Data Security Standards (PCI DSS) -- a figure which continues to fall every year.

What can you do to check if the firm for credit cards is PCI compliant? Lee Grant, CEO of Wrangu advises you to ask questions about their methods of encryption.

"Tokenization is among the standard techniques that completely erases all data from cards and provides an additional protection layer. Furthermore, secure security measures lower the chance of fraud, which in turn means reduce processing costs."

2. What can the service provider do to protect itself from fraudulent activities?

"What steps does your business do to protect itself from fraud or phishing scams as well as other cyber-attacks that can scare possible customers off?" David Levi, the founder of Cryptoner recommends that you look into. He also suggests that you ask the firm about the methods they use to resolve issues caused by transactions. Consider asking what their average response time is in the case of cyber security threats.

"These are just a handful of the things you need to consider when evaluating the option of payment you're thinking about since these are issues your customers are bound to ask," Levi says.

3. Do you believe it's feasible to accept various of payment methods?

Be sure to keep those things that you must keep in mind, like coupon and promotion invoices, customized invoices, refunds and various other types of payments all the things you'll need to maintain a positive relation with your customers as well as to maximize conversion.

If you're thinking about alternatives for payment options to bill ensure you're aware of the entire listing of the payment methods they acceptand what currency they will take.

"It's important that you're capable of accessing variety of payment options that will enable you to conduct global financial transactions as well as accept payment in different currencies,," advises Eden Cheng who co-founded PeopleFinderFree.

4. Have you considered the cost?

It is important to understand the amount you'll have for to purchase a SaaS Payment process service. Payment processing is a complex procedure. Certain fees are associated with different types of transactions. For instance, it is more expensive processing a credit card rather than the ACH transaction. You must however keep an in mind any other costs, like the cost to establish the gateway, or for merchant charge to the account.

"Many processors will charge you a choice to charge the transaction at a set fee  as well as an amount of the transactions" Rahul Mohanachandran, co-founder of Kasera clarifies. "Also make sure you look through these costs when you are looking for large quantities as they will get cheaper for each transaction."

5. Can it be made highly adaptable?

Additionally, if you have the choice of localization and payment billing, ensure that your provider has the capacity to handle each of the services currently in use. Do you offer recurring billing as well as one-time payments? Do you provide usage-based membership or any other membership plans that are more advanced?

"When there are multiple options for payment, you'll need the services of a provider of payment solutions that covers every one of them," says Alina Clark who is co-founder and marketing director at CocoDoc. "Being adept at customizing payment solutions to meet your company's specific requirements is vital to the efficiency of your business."

6. Does it offer dunning management?

"It's extremely painful to witness the situation unfold," Dussud admits, thus, you should find a firm which can take care of the job for you.

7. Is it user-friendly for both customers and employees?

Tech founders often spoke regarding user-friendliness and the user's experience, focusing on the front-end as well as back-end components as well as back-end components.

"Your employees must be able to navigate the system for issues with transactions, chargebacks, or even refunds. For customers, it is essential that the system is friendly to prevent them from abandoning their carts, or suddenly leaving the business funnel," Explains Lawmatics the founder and CEO Matt Spiegel.

It's difficult to determine the ease of use an application can be until you've had the opportunity to test each function, and integrate it in your personal information and existing technology stack. In this regard, search for software that offers trials that are completely free.

8. How reliable can you be about the API?

"Given the level of the time required to develop the payment system, choosing an API provider with an extensive, well-documented API crucial," explains the co-founder of Fox-Listed, the marketplace online for auto parts and accessories in Australia.

9. It's easy to connect it to your site?

Apart from having a strong API, the payment method needs to easily integrate to your website. Eric McGee Senior Network Engineer, TRGDatacenters. Reaffirms the importance of this:

"You need to choose a gateway system that is easily compatible with the eCommerce website. If not, your processing time is slow, and it affects the quality of your website's user experience. Choose a payment platform that's integrated instructions are clear simple and easy to follow and ones that offer customer service. who can immediately be reached for help with your payment procedure."

10. Do you think it will grow along with you?

"Measure your capacity for your own company's expansion against the capabilities of the payment processor that you're contemplating," advises Austin Dowse who is the chief executive officer at Aimvein. Aimvein.

In the words of Dowse states, "It is important that the payment processor you use can be able to change to grow and develop at the same speed as the business you are working for."

Offers SaaS Payment Processing, and Other Services

You may require solutions including:

• Payment processing worldwide which includes localization of checkouts in addition to international tax management.
• Flexible management of subscriptions which includes trial period, no-cost trials Annual plans with paid subscriptions, proration as well as discounts management.
• SaaS B2B sales administration that includes electronic invoicing, interactive quotes and integration with CRM.

Nathan Collier Nathan Collier is the Director of Content and Community for .

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