Today, technical integrators, who position themselves between the merchant and the payment provider, are gaining in popularity by allowing merchants more flexibility in managing their payment mix.
While Payplug has just enriched its panel of integrators with PaymentIQ, let’s look at the advantages and disadvantages of using an integrator for your payments. When should you go directly with a payment solution and why should you use an intermediary?
A new integration channel is available to Payplug’s customers: PaymentIQ
It is a growing trend: technical integration platforms are on the rise, especially for certain particularly complex or international sectors such as iGaming or Travel.
Payplug gives merchants the possibility to integrate its services directly via an API, but the services are also available from the main technical integrators. The latest is PaymentIQ, whose platform is particularly popular with iGaming players, and which allows Payplug’ services to be used in all countries in Europe.
Direct vs. indirect integration of your payments: it’s a tie!
According to your business profile and your stakes, what is the best option?
Integration via a technical integration partner
By using intermediary technical platforms, which integrate payment services and provide a platform through which a whole range of payment methods are already available, merchants facilitate the management of their payment mix. They benefit from simpler integration, better time management, and therefore a better time-to-market.
In addition, many additional services (smart routing, automatic reconciliation, rules management, etc.) are offered by these intermediary platforms.
The checklist of advantages and disadvantages of technical integration platforms:
- A variety of payment methods are available;
- Simplified and short integration: the payment solution is available in three clicks, thus saving time in terms of time-to-market;
- Less resources are required for payment solution maintenance and updates; everything is handled by the integrator;
- Access to additional services such as smart routing, automatic payment reconciliation, anti-fraud rules manager and customer profile management;
- A more dynamic payment mix and improved adaptability of alternative payment services;
- A central payment management platform to manage all operations.
- Often high costs to use these intermediate technical platforms;
- Limited direct relationship with PSPs (payment service providers);
- Access to the true potential of each payment solution is sometimes limited, as the technical integrator does not necessarily provide all PSP services.
Overall, a live integration will suit merchants who want to keep control of their end-to-end payment management, have more technical resources, and want to optimize their costs.
A checklist of advantages and disadvantages of live integration:
- Direct relationship with your payment provider(s);
- Access to all PSP services and innovations;
- Optimization of the costs of using payment services;
- Perfect adaptability of payment services to merchants’ needs.
Disadvantage: resources and time required for technical integration by the merchant’s own teams.
The choice of which of these solutions you choose is therefore specific to your KPIs, your operational management of payments and your strategy. Tell us which option you prefer!
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About the author
Roxane produces content about trends, innovations and events related to retail. She shares her advice with merchants who want to develop their business.