Pros and Cons of a Full-Service Payments Provider

When you choose a full-service provider, you enter into a strategic alliance where both businesses are working together toward a common goal. This partnership typically includes a dedicated team of subject matter experts—from an executive sponsor to account managers, marketers, sales professionals and solution engineers—who have a vested interest in your success.

Whether they’re creating custom solutions, untangling complex business challenges, or monetizing your payments program, this team shares your goals. Together, you can track your progress and make critical decisions along the way. For software providers, the advantages of full-service solutions start with ensuring the payment architecture is optimally designed to meet your needs.

Domain experts who understand the deeper program strategies required for specialty verticals, including the feature functionality needed to be competitive in today’s market, set the course. Other team members will offer strategic oversight and support your integration and ongoing needs, including marketing, operations, customer service, and more. Some providers offer frictionless onboarding as a value-added service.

Designed to provide an instantaneous acceptance experience, with just a handful of required inputs for merchant onboarding, your software clients can accept payments in near-real-time, providing an excellent customer experience. Sales and marketing support from expert partners is another significant benefit of a full-service solution.

Payments experts who know what captures market share and how to drive adoption offer marketing programs that are easy to implement and customize, and they provide benchmarks to help measure success. A full-service partner may also provide marketing development funds that support your go-to-market launch strategy and throughout the lifetime of the partnership.

Full-service providers also go beyond one-sizefits-all pricing templates which allow software providers the flexibility to capture up-market software clients with custom pricing options.

Merchants benefit from volume or transaction based pricing, leading to better economics. For your software clients, a full-service payments solution offers access to high quality customer support across a variety of channels (email, phone, self-service) at no additional cost.

“Working with Nuvei has simplified and elevated our integrated payments offering.

Knowing we have a true partner with a proven track record of success that is powering our white-labeled payment solution allows us to ramp growth and deliver even more value to our customers.”

– Rusty Butler AVP, IT & Security, Sylogist

The Trade Off

From solutions engineering to partner support, software companies are largely on their own with the self-service model. This includes defining requirements without counsel from a payments expert, which can – and often does – leave critical gaps in feature functionality.

These holes can undermine success by failing to achieve competitive parity or by overlooking important differentiators that can power growth.