Cutting Costs and Boosting ROI: How To Deploy Embedded Payment Solutions With Success

Posted on July 12, 2023

Payments will not be the same ten or even five years from now; they'll be autonomous, embedded, and unified. Is your business ready for this?

Embedded payments are becoming increasingly popular in platforms across verticals such as Gig Economy Platforms, Payroll Software Solutions, Lending and Loan Management, and Real Estate and Property Management. And the reason why is simple.

They have become a powerful tool for any business looking to cut costs, build revenue, and increase customer stickiness.

Our downloadable business use case illustrates how a restaurant management software platform uses an embedded payment solution to create profit and enhance employee satisfaction (by 25%), all the while cutting their accounting workforce hours down by a third.

Cutting Out The Complexity of Payment Processing

Too many businesses still rely on manual bookkeeping and tracking of funds, resulting in high overhead costs.

Up until now, transformations in the payments landscape have not been monumental. Particularly,  when it comes to business-to-business payments. In many ways, the needle has not moved. In the coming years, we won’t be able to say that. And that is a good thing because the ways payments are processed, managed, and handled today are extremely complex and inefficient at a time when they don't need to be.

With advances in embedded payment technology, the capability to solve the issues outlined below is here.

Costly and inefficient use of workforce resources

High transaction costs due to outdated payment processing methods and fees.

Exorbitant accounting operational costs stemming from the above pain points. 

Lack of visibility into transactions and balances. The inability to track and trace funds makes it difficult to manage cash flow effectively.

From Friction to Conversion: Embedded Payment Solutions Drive Growth

An embedded payment solution offers several advantages, including advanced security features such as tokenization and encryption to protect customer payment data, compliance with various regulations and standards, easy integration into existing systems, a seamless customer payment experience, and competitive processing fees. 

With an embedded payment solution, businesses can achieve the following tangible benefits:  

Reduced operational costs

Optimized accounting processes

Improved financial management and reporting

As the payment landscape continues to evolve, embedded payments will become increasingly important for businesses looking to stay ahead of the curve.

Learn how this software solution harnessed embedded payments to come out on top. Download Now!

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