The rapid innovation in technology has allowed digitization to progress to a great extent. The SaaS sector is also growing. These platforms must accept online payments. This blog will discuss the merchant accounts for SaaS or IT Platforms.
SaaS stands for Software as a Service. SaaS offers products and services via the cloud computing platform.
It also delivers applications over the internet. Instead of installing standard software in a business environment, users could create the server and configure the application.
These platforms will need a payment partner to ensure smooth payment processing SaaS. This makes it necessary to find a merchant account provider that offers smart payment solutions.
Examples of SaaS and IT platforms are software sellers for Customer Service Management and Marketing Automation, Software Management software, Sales, Finance, and HR Management software, Office Communication Tool, IT Services, Marketplaces for Third Parties, and so on.
Some of SaaS’s drawbacks:
Selling and distribution can be done online on the internet. The sale is high-risk because the cardholder and cardholder are not present during the transaction. Due to delivery difficulties and technical reliability, chargeback risk can be higher. Many opt for the recurring billing option.
Merchant Account Provider for SaaS
SaaS providers may have global reach via global sales. They must be able to accept international payments. To ensure that online sales grow, merchant account providers must be reliable, secure, and trustworthy. Trust in SaaS providers can be affected by security breaches or poor reputation.
Merchant Stronghold Merchant Account provider offers payment processing for SaaS. These platforms offer a variety of services and require complete automation. Merchant Stronghold assists in this process.
Why Merchant Stronghold merchant accounts?
Merchant Stronghold offers merchant accounts that are beneficial for your selling platforms. It can be used for domestic and international transactions and supports multi-currency support.
Merchant Stronghold has ties with reputable banks and financial institutions to facilitate smooth online payment processing for SaaS.
Merchant Stronghold can be integrated easily into your website or mobile app with our ready-made plugins and SDKs. The add-ons include robust APIs and technical documentation that is easy to understand for developers and assists with integration.
Multiple payment modes
Merchant Stronghold offers merchant accounts that allow you to offer domestic payment options such as UPI, credit cards and debit cards, mobile wallets, single QR codes, EMI, and more.
International activation will allow card payments in multiple currencies. Settlements can also be made in INR, after the currency conversion.
Merchant Stronghold merchant accounts offer the lowest TDR (per-transaction fees). There are no additional charges beyond the per-transaction fee.
All maintenance, setup, and hidden fees are included in the price. A customized pricing plan can be created to meet your specific business needs.
As we have discussed, security is an important aspect of merchant account providers.
Merchant Stronghold is PCI compliant, adheres to strict encryption standards, and has fraud prevention procedures in place.
You can register multiple apps or websites with the same business model using one Merchant Stronghold merchant card. Multiple online merchant accounts are not required.
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Merchant Stronghold Dashboard ensures that you never miss a payment. You will find many smart functions and features built into the dashboard. It offers analytics, records, and a graphical representation of transactions with clear status.
It also provides records for customers and orders. The reports can be downloaded for custom periods and used for different purposes. You can also download reports for settings, refunds, and settlements.
You can accept payments even if you don’t use any website or app through the Payment links provided by the merchant account provider.
Your merchant account provider must be responsive and easily reachable via various channels. SaaS platforms rely on automation. Payment partners must be able to provide any support they require to ensure smooth service delivery.
Merchant Stronghold is a provider that supports multiple channels and assigns a dedicated account manager to each account.
Payment checkout must be seamless, with high transaction success rates, clear failure messages, and payment retry options.
These options are available from Merchant Stronghold, as well as the ability to personalize the checkout page according to the platform and brand.
Future Products in SaaS
These platforms need to accept periodic recurring payments through a subscription model. Merchant Stronghold has been working to make these platforms more user-friendly.
Payouts are another feature that will be available soon. This feature would allow for automatic payouts to vendors, partners, or any third party.
Dynamic routing will be a future product that provides a smoother payment experience as well as the highest success rate for transactions.
Some Related Blogs
- Merchant Account for Membership and Subscription Payment
- Integrated Payment Processing For Your Business
- Acknowledge Yourself about Electronic Check
To ensure repeat business and sales growth, ensure your SaaS or IT platform has a merchant account provider.
Merchant Stronghold is a great place to start. Get your merchant account by following the easy onboarding process.