Why are embedded payments so valuable for SaaS?

embedded payments growth

Embedded payments are valuable for your customers.  And for you.

Consider this percentage: 8%. If you put your odds at 8 out of 100, would you be willing to take that bet?  Would you bet your company on it?

Those are real odds. Even if your software com

pany grows at 20% annually, it only has an 8% survival rate over three years. That’s an incredibly impactful statistic, and one that should make you immediately stop and consider, “is my SaaS company growing fast enough to survive?

Competition for VC funds is fiercer than ever before: 

  • There are over 34,000 SaaS products, with more coming onto the market each day.
  • Customers can choose from dozens of SaaS products in any category, making it hard to make your product stand out.
  • VCs have high growth expectations, while companies are experiencing longer fundraising cycles and lower valuations

The realities of the market for obtaining VC funding can be pretty daunting when you read facts like these.  Yet investors are still looking for investment opportunities. How do you stand out? 

The best SaaS companies are using payments to supercharge their user adoption, revenue growth, and valuations.

At Handpoint, we always say that winning SaaS businesses have a clear and articulated payments strategy. This is where embedded payments come into the picture. 

What are embedded payments, and how are they beneficial to your customers? 

Embedding payments means that all digital payment processing is integrated into the customer experience under a single brand (yours!) with a unified  journey and data. 

Below are just a few examples of the benefits of embedded payments for your customers
  • Customers won’t have to log in to multiple places, activate separate services, and suffer through disjointed support. 
  • With a well-built strategic payments proposition, a merchant only has one control panel to manage their entire business, across online and in-person channels.
  • Value-added payment features like tokenization enrich your product 
  • Having a card on file boosts spending

How are embedded payments beneficial to your company? 

If your customers are (or could be) completing payment transactions on your platform, you have the opportunity to embed payments acceptance--> enriching your product, streamlining development, and controling the entire customer journey from start to finish. 

Even if you have integrated to traditional payment providers who sell payments to your merchants in exchange for a revenue split, there is a significant benefit to taking greater ownership of your payments strategy & product:

  • Increase revenues and get higher margins: Third-party payment providers can compete only on price, leaving you a “high revenue share” of zero. Maximize your total revenues, not just your SaaS revenues.
  • Control everything in your brand: Your customers are choosing you, not some third-party provider that they might not know or trust. Embedding payments gives them the high value end-to-end solution they want from your brand, increasing brand awareness and satisfaction. 
  • Quick and simplified customer onboarding: Only onboard your customer once, instead of making them go through numerous onboarding processes. After all, product-led growth requires fast onboarding. 
  • Single platform: Build all of the data and business processes into your platform. Evolve your business within one platform, ensuring the perfect level of payments support as you scale. 
  • Streamline development costs and complexities: Aren’t you ready to finally own your payments process? Wouldn’t it be amazing to maintain only 1 integration? That’s what embedded payments mean for your business. No longer will you have to integrate a new solution for just 1 customer! By embedding payments, all the costs and complexities involved will be resolved upfront, leaving you with a streamlined solution thereafter. 

How can Handpoint help your business effectively succeed at the transition to embedded payments? 

At Handpoint, we are experts in embedded payments. We are here to help your SaaS company tackle the transition to embedded payments and come out the other side more successful than ever. Here’s how we make it happen: 

What do we do?  

  • Handpoint enables software platforms (POS software, practice management, scheduling software, etc.) to use Handpoint's payments infrastructure, expertise, and services to supercharge their growth with payments. Embedding payments add more value to your platform and more value for your customers. When done right, with Handpoint by your side, this value will translate to greater growth and revenues

How do we do it?  

  • Easy APIs: We use a consultative approach to help you build your perfect solution, with easy APIs and a dedicated team to make sure your solution is ready quickly with the features and real-time payments data that you need. You’ll be going live in days to weeks, not months or years.
  • Easy onboarding within your journey: Handpoint helps you deliver a seamless customer journey, including easy onboarding, seamless activation, top security, and reliable processing.
  • Commitment to your success: We practice a G2M Strategy with a client-oriented approach, leading you from the planning to the delivery stage. We prioritize business enablement so that you achieve greater productivity and less friction in your business processes. Plus, Handpoint has won awards for our partnership (our expert team is always there to answer your urgent questions). 

What happens after?

  • After activating with your embedded payments, your customers starts transacting and you start growing. We’ll help you handle your development roadmap and provide the perfect level of payments support as you scale. 
  • You’ll see that you can monetize your payments right away and maximize the total revenues you earn.  

So, do you think your SaaS company is growing fast enough to survive the next few years (only 8% will), or do you need a partner like Handpoint to help get you on the path towards a successful payments strategy? If you’re in the heat of competition for VC funding, our services are the perfect fit: we will supercharge your growth to meet (or exceed) the high growth expectations that all VCs are looking for these days. To get started with embedded payments today, schedule a SaaS Growth Strategy Session with us.New call-to-action