There’s a way to increase your customer revenue up to fivefold…and it’s not a secret
By adding financial services like payments alongside your software company’s core products, vertical SaaS businesses can increase customer revenue by 2-5 times (according to VC, Andreessen Horowitz).
And guess what - that’s exactly what we help you do here at Handpoint!
We have worked with SaaS companies on 3 continents, enabling them to supercharge their growth with payments. Typically, there are 3 “features” we get asked about most by SaaS CEOs regarding their SaaS payment solutions.
No, it isn’t international omni-commerce, though we have that.
It isn’t tokens or split payouts or easy APIs to put your application right on a smart terminal (yes, we have those, too).
If you’re looking to learn what top SaaS CEOs say are the most important needs for their payment solutions, continue on and you’ll find out!
What SaaS CEOs care most about in embedded payments
- Great onboarding
- Hassle-free experience for end users
- Competent support, right when you need it, behind the scenes
Why do SaaS CEOs care about these topics?
- PLG (product-led growth): PLG requires smooth onboarding to maximize adoption and minimize setup costs. According to survey data from the 2022 Product Benchmark report, product-led companies are more than twice as likely to be growing quickly (100%+ year-over-year revenue growth) than sales-led companies. But even if you are sales-led, your customers expect the same easy customer journey.
- Payments are the lifeblood of your SaaS customers. The checkout experience that your merchants offer should be seamless. Any problems along the way escalate quickly.
- Merchants using embedded payments call their software provider first with any problem. The software provider doesn’t want to punt a merchant over the wall, they want to solve the problem.
Are you kidding? Aren’t these table stakes?
No. But they should be.
Many SaaS companies we proudly call partners today had tried working with traditional acquirers first (see our post on the payments evolution).
Unfortunately, these SaaS CEOs learned the hard way that traditional acquirers didn’t share their SaaS mentality. SaaS requires continuously winning the customer. Instead, traditional acquirers offer: Long/complex on-boarding processes. Impossible APIs. Unhelpful support. Hassle.
Even after being burned once, payments providers would promise the moon to those SaaS CEOs, luring them on. “We’ll send you leads.” Doesn’t happen. “We’ll fund your integration.” Because it will be very hard, and you’ll want to stop before you are done. “We will give you a huge rev-share.” True, but on zero margins. “We offer great customer support.” But that means a phone call in two days and only on merchant topics, not on the integration.
Here are a few ways that Handpoint is different
Great customer onboarding
You can control the customer onboarding journey.
- An easy, online merchant application in your brand lets your merchants apply quickly and at a time that is convenient for them
- Depending on the market, your merchants can be approved for payments within minutes.
- Even activating face-to-face payments is easy with fast shipping, remote key injection, no complex wifi requirements — so you can scale without on-site support.
- All in your workflow, your brand
- Payments inside of your application/flow. Embed Handpoint APIs for face-to-face and online payments. Our APIs are simple and work with every platform. Your solution is validated before going live to make sure you are market ready.
- Developer support. Developers talking to developers in a direct Slack channel ensures your project runs fast and smoothly. Ask us anything.
- Data visibility. You have full visibility over all your customer’s transactions in real time, online or via API.
- Total control over the customer experience.
More than a tech stack. We’ll help you get to market fast with operational readiness and your payments strategy.
- Put you in front and center with your customers.
- Slack direct message/chat to integration support.
- Real time data from every interaction helps your customers understand their business better.
- Instant fixes pushed to the terminal with no merchant hassle.
- Handpoint has won multiple awards for partnership. We believe that your urgent questions shouldn’t have to wait for answers. Our team is there for real-time, human responses from the experts, making sure you have all the information you need during your integration and as you scale.
SaaS companies can add critical revenue streams with embedded payments. You can start profiting from payments today with minimal investment in labor costs and development, white glove integration support, detailed reporting, APIs, underwriting, risk, activation, and related support. With the right partner, you can not only handle your payments transformation, but you can also even leapfrog a stage or two of the payments evolution at tremendous savings.