Support Line

+1 (877) 203-6624

PAYARC
  • Solutions
    • Curv Restaurant
    • Curv POS
    • Payarc Gateway
    • API Integrations
    • For Partners
    • Merchant Accounts
      • Restaurant
      • Retail
      • Ecommerce
      • Professional Services
      • Healthcare
    • Payment Facilitator
    • Payarc AI
  • Partner
    • Agent/ISO
    • ISV/SAAS
    • Merchants
    • Referrals
    • Payment Facilitator
  • Company
    • About us
    • Certified Payarc Partners
    • Careers
    • Blog
    • News
    • Knowledge Hub
  • Contact
    • Support
    • Talk to Sales
    • How to Switch
Merchant Login
Partner Login
  • Navigating the Omnichannel Payments Landscape 

    Navigating the Omnichannel Payments Landscape 

    TL;DR

    The payments landscape has undergone transformative changes, accelerated by the impact of COVID-19. With a surge in online shopping, businesses are adapting to omnichannel payments strategies, navigating challenges and capitalizing on consumer behaviors shaped by the pandemic. 

    Key trends include the resurgence of in-store shopping, the exponential growth of online commerce, and the rise of mobile and social commerce, particularly on platforms like Facebook, Instagram, and TikTok. Live selling is emerging as a dynamic retail experience, creating opportunities for engagement and sales. 

    Understanding US consumer preferences is crucial, with expectations centered around seamless delivery, free shipping, and transparent tracking. Businesses that integrate these preferences seamlessly into their online presence tap into significant opportunities. 

    Download E-book

    The adoption of an omnichannel payment strategy is presented as imperative for sustained relevance in the dynamic retail landscape. A payment processor like Payarc offers a reprieve to the adoption of this model, through emphasizing comprehensive solutions, seamless integration, and personalized support. This strategic alliance becomes pivotal for businesses looking to unlock untapped revenue potential and shield themselves from obsolescence. 

    Introduction

    In a world perpetually shaped by change, the payments landscape has been relentless in its evolution. The gears shifted into overdrive in the past 5 years, fueled by the seismic impact of the COVID-19 pandemic.  

    Governments worldwide responded with protective measures, closing nonessential retail spaces and limiting capacities in essential establishments. The result? A surge in online shopping, with e-commerce escalating from US$382.5billion in 2019 to US$727billion in 2023. (Statista, 2024) 

    This disruption prompted retailers to reevaluate strategies. While some hesitated to part with traditional face-to-face engagement and their brick-and-mortar establishments, others seized the opportunity, embracing omnichannel strategies that continue to yield dividends post-lockdown. 

    Surveys indicate a profound impact on consumer behavior – over one-third of Americans have seamlessly incorporated omnichannel features into their shopping routines post-pandemic. The stakes are high, with 92% of consumers fluidly switching between digital and physical interactions within a single transaction – often researching purchases online while shopping in brick-and-mortar stores, underscoring the imperative for brands to adapt. (Team P., 2022)

    The journey wasn’t without challenges. Almost 50% of brands foresee the unification of online and in-store operations and data as their primary hurdle in the coming years. (Drenik, G.. 2022) However, those who successfully navigate this path are poised for favorable results.  

    Download E-book

    In-store Shopping 

    In the wake of the pandemic, in-store shopping, synonymous with the quintessential brick-and-mortar retail experience, has staged a remarkable comeback with a forecast of 72% of US retail sales occurring in these physical stores, reclaiming its role as a formidable player in the industry. (Reda, 2022)

    This mode of shopping entails a customer physically visiting a retail establishment to scrutinize, choose, and acquire goods or services. What sets in-store shopping apart is the immersive experience it offers, where patrons invest an average of 54 minutes perusing a physical store —

    significantly more than the 38 minutes typically spent on a single website.(ICSC, n.d.) This stark contrast underscores the enduring importance of prioritizing and enhancing in-store experiences, even amidst the pervasive influence of the digital realm. 

    Payments are no longer confined to the binary of cash or card; the question now extends to a myriad of options such as mobile wallets like PayPal, ApplePay and GooglePay, to bank transfers, Buy Now Pay Later options, credit and debit cards, propelled by the rise of omnichannel payments. 

    Download E-book

    Online Shopping

    Online shopping, a facet of digital commerce, allows consumers to effortlessly acquire goods or services through the internet using web browsers or mobile apps. It relies on card-not-present (CNP) transactions, where buyers remotely provide payment details, enabling transactions without a physical card presentation. A digital receipt confirms the purchase, and the bought items are then delivered to the buyer’s doorstep or available for convenient pickup at a designated location. 

    In this digital era, over 263 million Americans, constituting 80% of the population, engage in online shopping. (Statista, 2023) The significance of this trend is further underscored by the considerable purchasing power wielded by millennials (29–43 years old), emphasizing the imperative for businesses to establish and fortify their online presence. 

    Catalyzed by events like Black Friday—Cyber Monday (BFCM) weekend, online shopping reached unprecedented heights, with Adobe Analytics reporting consumer spend to be at $9.8 billion on this day alone, this is 7.5% up from the year prior. (Delesline III, 2023) This surge is a testament to the widespread appeal of online shopping, where consumers capitalize on enticing deals and the seamless experience of purchasing products through various devices, be it mobile, apps, or computers. 

    This momentum in online commerce is not confined to individual platforms. According to Forbes, the analytics firm Comscore reported a remarkable figure for US e-commerce sales—$1.09 trillion in 2022, marking a robust growth rate of 10.6% from the previous year. (Koetsier, 2023) The accelerating surge in e-commerce not only highlights its dynamic trajectory but also signifies a profound shift in consumer behavior, reshaping the retail sector at its core. 

    Download E-book

    Mobile Shopping 

    Mobile shopping, the seamless transaction of goods and services through our smartphones and tablets, has become an integral aspect of modern digital commerce. This innovative approach empowers consumers to navigate online shopping platforms with unprecedented ease, liberating them from the constraints of desktop computers. A Morning Consult poll in December 2022 unveiled that over 60% of US adults recognize mobile shopping as an indispensable convenience in their online shopping endeavors. (Morning Consult, 2023) 

    Looking forward, the trajectory of mobile commerce is striking. It was predicted in 2023, that an estimated 187.5 million U.S. users will have completed at least one purchase via a web browser or mobile app on their mobile devices—a substantial increase from the 167.8 million mobile buyers recorded in 2020. This trend underscores a significant shift, with mobile buyers consistently constituting at least 60% of the U.S. population since the inception of the decade. (Chevalier, 2022) 

    In tandem with the rise of mobile shopping, digital payment methods have taken center stage. The prevalence of digital wallets, safeguarding credit, debit, and loyalty card details for online use, has surged. In 2022, mobile wallets commanded roughly half of global e-commerce payment transactions, solidifying their status as the premier online payment method worldwide. This dominance is poised to intensify, with projections indicating a rise to over 54% by 2026. In stark contrast, credit cards, which held a 20% market share in 2021, are anticipated to witness a decline in the years ahead, further accentuating the ascendancy of digital wallets in the digital payment landscape. (de Best, 2023) 

    Download E-book

    Social Commerce

    Amidst the 2 hours and 24 minutes that an average person invests in social media, a notable shift towards social commerce has emerged. (Nyst, 2023) Social commerce, the practice of selling products and services directly on platforms like Facebook, Instagram, TikTok, and Live Selling, transforms the entire shopping journey—from initial product discovery to the final checkout,

    seamlessly occurring within the social media realm. (McLachlan, 2022) In 2022, global sales through social media platforms surged to an estimated $992 billion. Projections for 2030 anticipate an extraordinary growth to $8.5 trillion, showcasing the immense potential for business expansion through social commerce. (Global Industry Analysts. 2024)

    Download E-book

    Live Selling

    Enter the realm of live shopping, also dubbed as livestream shopping, live video shopping, or live commerce—a digital gateway where retailers can showcase their products through captivating videos and directly engage with online consumers. This innovative approach allows consumers to participate actively, posing questions and interacting through live chat channels, fostering a dynamic connection. Enthusiasts can even add products to their basket in real-time while engaging with their favorite influencers. (Emplifi, 2022) 

    The inclination toward live shopping is reinforced by the staggering statistic that 73% of consumers prefer watching videos over reading product information. (Mosby, 2024) While this trend has been more prominent in China, the United States boasts a thriving market with livestream sales reaching an impressive $31.7 billion. (Chevalier, 2024)

    Notably, services like CommentSold demonstrate the immense potential by generating up to $300 per minute in a single live sale, illustrating the lucrative nature of this engaging retail experience. (Whitmarsh, 2022) 

    Live shopping isn’t confined to a single platform; it allows simultaneous streaming across various channels, including your online store, mobile app, Facebook Live, and Facebook Groups. This versatility ensures that retailers can reach their audience through multiple avenues, creating a seamless and immersive shopping experience for consumers. 

    In a resounding affirmation of the impact of social media on shopping, 87% of social sellers declared its effectiveness in 2023. (Liang, 2023) This trend underscores the significance of a robust online presence to tap into the combined 85% market share of Gen Z and Millennials. (Walk-Morris, 2023) As the dynamics of social shopping continue to evolve, businesses must stay attuned to these platforms to leverage their full potential. 

    Download E-book

    US Consumer Preferences  

    As a company, you would want to cement your position in being top of mind for your consumers. Unlocking the full potential of online shopping requires businesses to align with the expectations of discerning US adults. According to Morning Consult, these shoppers deem certain attributes indispensable for a truly convenient experience: 

    • Seamless Home Delivery: An overwhelming 81% expect the ease of ordering with the added convenience of home delivery. 
    • Complimentary Shipping: 76% prioritize the allure of free shipping, an offering that sweetens the deal for online transactions. 
    • Product Availability: Ensuring products are consistently in stock resonates with 71% of users, offering assurance and reliability. 
    • Transparent Package Tracking: A substantial 68% value the ability to track their packages in real-time, providing peace of mind and anticipation. 
    • Swift Shipping: 66% appreciate the swiftness of fast shipping, ensuring their purchases reach them promptly. 
    • Hassle-Free Returns: 63% seek the flexibility of free returns, adding a layer of convenience and risk mitigation. 
    • Intuitive Website Tools: 62% find value in effective website filtering and search tools, streamlining the shopping process. 
    • Mobile Shopping Convenience: 61% prioritize a seamless mobile shopping experience, recognizing the prevalence of on-the-go transactions. 
    • Efficient Cart Management: 60% appreciate the ability to save products in their carts for a streamlined and organized shopping journey. 
    • Accessible Discounts: 56% seek ease in finding discounts, enhancing the affordability and attractiveness of their purchases. 
    • Cross-Site Price Comparisons: 54% value the capability to compare prices across different sites, ensuring they secure the best deal. 
    • Convenient Mail-In Returns: 51% prefer the simplicity of mail-in returns, providing an additional layer of flexibility. 
    • Product Comparison Features: 49% find value in tools that allow them to compare products across different sites, aiding in informed decision-making. 
    • User-Friendly Checkout: 47% appreciate the ability to save checkout details in a user profile, expediting future transactions. 
    • Extended Return Windows: 43% see the benefit of generous return windows, allowing them the flexibility to return items within a reasonable timeframe. 

    In recognizing these preferences, businesses not only tap into a substantial opportunity within the online shopping realm but also demonstrate an understanding of the nuanced requirements that define a truly convenient and customer-centric experience. By seamlessly integrating these attributes, businesses position themselves to thrive in the dynamic landscape of online retail. (Morning Consult, 2023) 

    Download E-book

    Benefits of Omnichannel Payment Processing for Businesses: 

    In the dynamic landscape of retail, the adoption of an omnichannel payment strategy is imperative for sustained relevance. The heart of mastering omnichannel strategies resides in the embrace of an omnichannel payments ecosystem. This pivotal step not only unlocks untapped revenue potential but also acts as a shield against obsolescence in the face of a constantly evolving market. A strategic alliance with a payment processor adept at

    facilitating seamless integration across all channels becomes not just a choice but a forward-thinking move. 

    Curv Retail POS Bundle

    Omnichannel: Access Anywhere, Anytime 

    Providing a consistent payment experience across in-store, online, and mobile channels is pivotal. Omnichannel payment processing, adaptable to various devices, ensures a smooth payment process, enhancing convenience and customer experience. 

    POS Products Connectivity and Synchronization 

    Beyond payment processing, seamless synchronization between POS products for onsite and online orders is critical. This synchronization allows real-time management of inventory, tracking of sales, and processing of orders, minimizing overselling risks and enhancing operational efficiency. 

    Retail Capabilities 

    A distinguished payment processor extends beyond conventional transactions, offering a comprehensive suite of retail-focused capabilities. This includes advanced inventory management, CRM tools, loyalty programs, and robust analytics. Understanding customers, personalizing marketing, and fostering loyalty become integral aspects of the retailer’s toolkit. 

    Seamless Integration 

    Efficiency begins with seamless integration. A proficient payment processor assists in seamlessly integrating payment processing with essential business systems, from accounting software to e-commerce platforms. These integrations streamline workflows, reduce errors, and optimize overall efficiency, tailoring the payment processing experience to specific business requirements. 

    Download E-book

    Conclusion

    In a world where everything is interconnected, understanding consumer behavior across diverse touchpoints is paramount. Retailers must leverage data to personalize the shopping experience, acknowledging that consumers research online before purchasing and traverse multiple touchpoints, from in-store to mobile, social, and live selling. 

    Collaborating with reputable payment processors like Payarc is crucial. The upcoming launch of Curv for retail signifies a commitment to empowering businesses with comprehensive solutions, seamless integration, and personalized support. While Curv is a recent addition, it inherits the solidity of Payarc’s reputation as a trusted payment processor. 

    To unlock the full potential of Curv and propel your retail business to new heights, contact us today. Our team of experts stands ready to guide you through the process, answer queries, and tailor solutions to your business needs. Experience the transformative benefits of Curv and position your business for sustained success. 

    More about Payarc
    More about Curv

    Janine Aboy

    June 5, 2024
    Agent Insights, Business Tips, Industry Insights, Merchant Services, Payment Processing
  • Traditional Merchant Services vs. Payment Facilitation  

    Traditional Merchant Services vs. Payment Facilitation  

    In today’s electronic ecosystem, software companies have an array of options to create unique payment experiences for consumers. Among these options, two stand out: traditional merchant processing and payment facilitation.  

    The choice between traditional merchant processing and payment facilitation significantly impacts multiple things. This includes how merchants sign up, payment timelines, splitting payments, billing choices, merchant statements, and more. Let’s dissect these differences and their implications for software developers and agents.  

      Traditional Merchant Processing  

    Merchants first accepted credit cards electronically in 1973, marking the inception of traditional merchant processing. In this model, businesses apply for a Merchant ID (MID) assigned by a sponsoring bank. Each MID is unique to a physical merchant location or corporate entity. Traditional processing involves an application process for underwriting, usually taking 2–3 days for approval.  

    Traditional processing offers various point-of-sale and e-commerce solutions. Hardware manufacturers or payment processing partners can integrate with these solutions. Billing options include flat rate, tiered, dual pricing, and interchange plus pricing models, with additional fixed fees.  

       

    Payment Facilitation  

    Payment facilitation simplifies the merchant boarding experience and expands optionality with settlement. In this model, software companies can become payment facilitators by applying with a payment processor and sponsor bank. They get a master MID to onboard sub-merchants quickly and easily. Once approved, sub-merchants can begin processing within minutes.  

      Payment facilitation enables split payments among multiple recipients before settlement, supporting split payment functionality. It also enables a marketplace processing model, facilitating resale underneath the master merchant. 

    However, this does have some limitations. This model offers limited billing options, including flat rate or tiered pricing with authorization fees. The point-of-sale options are also expanding beyond the original e-commerce setup.  

       

    Explore Payarc’s Payment Facilitator Platform:  

    • Split Payments: Gain unprecedented control over funding instructions with Payarc’s Split Payments API or Virtual Terminal. Flexibility rules as users can divide transactions into smaller accounts or hold them without processing.  
    • Payment Integration Options: Elevate automation with Payarc’s APIs, enhancing every stage of the customer lifecycle. Our onboarding process is easier and funding happens faster. Plus, we can split payments among multiple parties in one transaction.  
    • Dashboard Experience: Each ISV sub-merchant receives a unique ID, granting access to a fully customized dashboard. Manage daily tasks effortlessly, from reconciling transactions to handling chargebacks, all within an intuitive and efficient interface.  
    • ID Provisioning/Onboarding: Payarc’s PayFac Program offers flexible onboarding options powered by advanced technology for real-time automated checks. Choose between a hosted UI or API integration for a quick, digital onboarding experience tailored to your needs.  
    • Electronic Payment Acceptance Options: We have various electronic payment options available through our PayFac program. These options include cards and ACH transactions. We can customize these options to meet your specific needs and preferences.  
    • Payment methods: Payarc partners with ISV developers to create custom payment interfaces using APIs and iFrames. This allows for easy integration into current systems with a focus on flexibility and customization.  

    Discover the Payarc Difference 

    We directly partner with software companies and developers, fostering collaboration to craft unique payment experiences. Offering tailored options from APIs to iFrames, we seamlessly integrate into existing or developing workflows, ensuring optimized software experiences through customization. Fuel your growth with Payarc’s Innovative Financial Technology Platform, empowering merchants and technology providers with versatile solutions to meet consumers wherever they transact. Whether through traditional merchant integration or payment facilitator services, Payarc drives business growth with cutting-edge technology.   

    Experience the Payarc Difference yourself

    Janine Aboy

    May 21, 2024
    Agent Insights, ISV
    payfac, payment-processing
  • Choosing the Right Payment Partner

    Choosing the Right Payment Partner

    When it comes to online and embedded payments, choosing the right payment processing partner is crucial for your business. Efficiency and reliability are important, and this decision can either help or hurt your business. At PAYARC, we understand how important smooth transactions are for your company’s success. We are dedicated to providing a payment processing experience that surpasses the competition.  

    What Sets PAYARC Apart as a Payment Partner:  

    1. Tailored Solutions  

    PAYARC: PAYARC provides a solution for businesses of all sizes, so even regular merchants can benefit.  

    Competitors: Many payment processors offer reliable products, but they might skew their suitability towards larger businesses, international merchants, or those with a developer background.  

    2. Monthly Fees

    PAYARC: Have access to a full merchant account with no monthly fees.  

    Competitors: Square and Staxx charge monthly subscriptions. While Stripe’s starter plan is free, its add-ons (invoicing, fraud prevention, customer service) can become expensive. 

    3. Processing Fees

    PAYARC: Flexible pricing options for businesses of all sizes. Dual Pricing and Interexchange plus pricing are available from the start.  

    Competitors: Standard pricing for all payment types can be costly for both high-volume and small businesses.  

    4. Other Fees

    PAYARC: Committed to transparency, we charge flat rates with no additional costs for each feature used. No hidden charges. 

    Rivals: Beware of hidden costs and extra charges; Stripe imposes a fee for chargebacks and additional transaction fees. 

    5. Revenue Sharing

    PAYARC: Partners can customize their merchant’s pricing programs, enhancing revenue-sharing options.  

    Competitors: Partners typically have static flat rates unless the company is large enough to negotiate a better deal.  

    6. Customer Support

    PAYARC: Access to world-class support with dedicated partner support available 24/7. Get someone on the phone in 10 seconds.  

    Competitors: Bigger processors like Stripe may lack an inbound phone number for customer assistance.  

    Why PAYARC is Your Best Choice:  

    PAYARC seamlessly integrates multiple payment options into a consistent experience for your customers.  

    Tailored solutions, personalized pricing, advanced cybersecurity, and 24/7 premium support ensure a level of service unmatched by most competitors. 

    Partners benefit from flexible business solutions, including hardware, sales support, lower fees, invoices, inventory management, and detailed reports.  

    Whether starting a business or dealing with many transactions, PAYARC is a great option for your payment processing needs. Choose PAYARC and experience a level of service that most players simply can’t match.  

    Book a Demo Today 

    Payarc

    February 29, 2024
    Agent Insights, Merchant Services
    payment-processing
  • Empower Your Business with the PAYARC Partner Hub

    Empower Your Business with the PAYARC Partner Hub

    Welcome to a transformative experience designed exclusively for agents – the PAYARC Partner Hub. Making payment processing for agents, easier. This comprehensive solution is crafted to unlock the full potential of your business. Let’s delve into the features that make this hub a true game-changer: 

    Download E-book
    Partner Hub Webinars

    Access to Exclusive Webinars and Training

    Stay ahead in the dynamic payment industry landscape. The Partner Hub opens doors to a diverse array of exclusive webinars and training sessions. Take part in our monthly live webinars that equip you with the ins and outs of PAYARC products and industry sessions set to improve your skills at any experience level. Elevate your understanding of PAYARC’s offerings and stay abreast of industry trends, ensuring you’re not just a participant but a leader in the payment space.

    Robust Marketing Materials Library

    Empower your merchants with the right resources. Dive into our extensive library of marketing materials and collaterals, meticulously tailored to enhance their experience with our user-friendly systems and state-of-the-art POS devices. Explore APIs, quick reference guides, online ordering capabilities, equipment details, and a wealth of other resources. 

    Partner Hub Marketing Materials Library

    Real-Time Tracking Dashboard

    Gain unparalleled insights into your business with our intuitive dashboard. Monitor live merchant applications, review underwriting progress, access your residuals, and glean instant insights into your overall business performance. With this, you can have up-to-date merchant processing reports so you can take immediate action with any changes in your portfolio. Stay in control, make informed decisions, and drive success with the real-time pulse of your operations at your fingertips.

    MyPAYARC

    Custom CRM for Agents: Under the My PAYARC section, check out merchant activations, bonuses to be earned, bonus activities, commissions, deposits, batch reporting, and more. Be fully equipped with our centralized and feature-rich platform.

    Download E-book

    In Detail

    • My PAYARC: Direct access to the My PAYARC Dashboard. 
    • New Application: Navigates to the Apply Wizard for new applications. 

    Dashboard Widgets: 

    • Live Merchants: Categorizes merchants into Active, Dormant, and Inactive categories. 
    • Applications Status: Tracks applications from waiting on the signature to approve or decline. 
    • Residuals: Displays partner residuals from the previous month. 
    • Upcoming Training: Highlights the latest Demio webinars. 
    • Latest News: Updates and newsletters from the last three months. 
    • Upcoming Releases: Stay informed about forthcoming events and updates. 

    My PAYARC Overview: 

    • Merchant Activation: Displays recently activated merchants. 
    • Bonus to be Earned: Shows pending bonus amounts and terms. 
    • Bonus Activity, Residuals, Partner Income: Charts detailing bonuses, residuals, and partner income. 
    • Top 10 Merchant Activities: Insights into volume, transactions, chargebacks, and refunds. 

    Apply Wizard

    • Seamless access to view, create, and submit applications. 

    My Commission: 

    • Bonus Summary: Detailed bonus information. 
    • My Residuals: Monthly residuals details. 

    My Merchants:

    • Merchant Details: Comprehensive view with performance metrics. 
    • Deposits & Batch Report: Summary of transactions and batch transactions. 
    • Deposits & Batch Transactions: Detailed transaction records. 
    • Chargebacks, ACH Returns: Comprehensive list with detailed merchant information. 
    • API Keys: Access to unique API keys for added security. 
    • Upcoming Training, Marketing Materials: Stay updated on webinars, marketing materials, and new product releases. 
    • FAQs: Answers to common questions about partner accounts and merchant activities. 

    The PAYARC Partner Hub transcends the conventional notion of a tool; it’s a gateway to the future of agent partnerships. It makes payment processing for agents easier. Crafted to provide you with essential tools and resources for unparalleled success, it’s time to unlock the full potential of your merchant services business. Take the next step in your journey toward a brighter, more prosperous future by contacting us today.  

    Your dedicated Relationship Manager is not just a contact point; they are your guide through this exciting venture, ready to provide more information and insights to propel your business forward. 

    Gain access to the PAYARC Partner Hub today!

    Become an Agent Partner
    Download E-book

    Payarc

    January 18, 2024
    Agent Insights, News, Payment Processing, Technology
    independent sales agents, payment-processing
  • Apply Wizard: Your Payment Processing Powerhouse

    Apply Wizard: Your Payment Processing Powerhouse

    In the dynamic world of payment processing, time is money. PAYARC’s Apply Wizard application management, designed specifically for agents and merchants, offering a new tool. 

    Payment Processing: Apply Wizard Seamlessness

    Seamlessness Redefined

    Apply Wizard’s intuitive interface ensures that initiating a new application is a breeze. Say goodbye to being overwhelmed by paperwork or struggling with intricate systems. With just a few clicks, agents can effortlessly kickstart the process, saving valuable time and minimizing potential errors. Our Apply Wizard makes sure all the numbers are valid so it can proceed! 

    Payment Processing Customization at Its Core 

    Apply Wizard recognizes that a single solution doesn’t cater to everyone’s needs. Its template-driven approach allows agents to tailor pricing to each merchant’s unique needs. This level of customization is unprecedented, ensuring that merchants get a solution that aligns perfectly with their business model. 

    Empowering Collaboration 

    Apply Wizard bridges the gap between agents and merchants, fostering a collaborative environment. Agents can choose to guide merchants through the process or let them take the lead. This flexibility not only enhances transparency but also strengthens trust – a vital component in any successful business relationship. 

    Payment Processing: Apply Wizard Collaboration

    Fortified Security Measures  in Payment Processing

    Apply Wizard fortifies itself with industry-leading measures in an era where data security is paramount. Its PCI compliance steps ensures that we handle sensitive information with the utmost care and protection. Merchants can rest easy knowing that their data is in safe hands. 

    Expert Support, Around the Clock

    Technology is most effective when paired with exceptional support. A dedicated team is available 24/7 to support Apply Wizard. Help is just one click away, making sure agents and merchants always have support. 

     

    Elevating Efficiency, Elevating Business 

    Apply Wizard doesn’t just streamline applications; it elevates the entire operational process. It’s about more than just saving time; it’s about optimizing every aspect of the application journey for maximum efficiency. 

    Experience the Future of Payment Processing Today

    Apply Wizard isn’t just a tool; it’s a game-changer. The ground-breaking approach to application processing empowers agents and merchants alike. Embrace the future of applications and discover a more efficient, hassle-free way to do business. 

    Payment Processing: Apply Wizard Future

    If you’re one of our agents or merchants, sign up for the Apply Wizard Beta today and experience innovation in action. Take your business to new heights with Apply Wizard – where efficiency meets ingenuity. 

    Sign up for Beta

    Payarc

    November 15, 2023
    Agent Insights
  • 5 Software Industry Trends to Look Out for in 2023

    5 Software Industry Trends to Look Out for in 2023

    Payment gateway providers invest millions of dollars in their tech to make integrations faster and easier. These integrations improve developer’s business models, and the merchant and customer experiences— a win for all! These software industry trends show why (among many other reasons) software companies like you should partner with payment processors like PAYARC and become ISVs.

    5 software industry trends every ISV should look out for this year

    Omnichannel Experiences 

    People lead busy lives and seek simplicity so it’s no surprise that consumers want omnichannel experiences. According to Salesforce, 40% of customers say they won’t use companies that don’t offer an omnichannel strategy. 

    An omnichannel experience is the process of accepting multiple payment methods, integrated into one single experience for customers. Integrated payments allow customers to pay how they want. For example, an invoice could be sent to a customer’s phone, or a card put on file for recurring payments.

    As we dive deeper into 2023, integrated payments are one of the software industry trends to watch. Integration not only simplifies the merchant/customer experience, but it also acts as a security measure. When a customer pays using an external, non-integrated payment processor, their financial data becomes at risk of being compromised.

    New Methods of Payment 

    Digital methods of payment have been on the rise in the past few years and aren’t stopping any time soon. By the end of 2022, consumers used digital wallets 10 percent more than the previous year. Software industry trends like this are important in understanding buyers’ spending behaviors and growing with them. 

    So, what does this mean for software companies? When digital payments are accepted, it speeds up the process, making everyone happier. It also minimizes the security risks that using a physical card poses like card scamming. 

    Dedicated Customer Support 

    Having good customer support is vital for any business this year. It’s reported by more than a quarter of Americansthat ineffectiveness is their top customer support complaint. This software industry trend shouldn’t be overlooked as dedicated customer support has become the gold standard. 

    AI will continue to advance and start to act as a replacement for some human customer support teams. For example, chatbots and voice assistants replicate human agents via automated systems. This’ll allow businesses to provide better support for their customers as the advancements in technology continue. According to another report, 12% of Americans said their top support complaint is slowness, AI will help with that.

    Robust Security Measures 

    Another important software industry trend is how more vigorous security measures are getting. According to the Federal Trade Commission, in 2019, identity theft accounted for 20.33% of the 3.2 million fraud cases. From 2019 to 2020, those numbers more than doubled and have been rising ever since.

    Security breaches are unfortunately common in this digital age, but there’s help in preventing them. Partnering with a PCI Level 1 DSS compliance certified payment processor will guarantee customer data is protected.  

    Advanced Developer Tools

    Continuing on the subject of AI, better developer tools are another one of the software industry trends to follow. AI-assisted programming tools (like GitHub and Amazon CodeWhisperer) will grow in popularity as the year progresses. Though they aren’t set to replace humans right now, they will assist coders in generating code. 

    It’s also predicted that AI and APIs will work hand in hand, but who’s to say how soon that’ll happen. Software companies who partner with a payment processor get to integrate their platforms and streamline their billing experiences. If you want to stay on track for success, finding the right payment processor will help with your API needs.

    What does the future of the software industry look like?

    Omnichannel experiences, multiple methods of payment, dedicated customer support, robust security, and tech advancements…this is the future of software! Staying on top of these trends is crucial in keeping your software platform up to date and held to the standard. Gone are the days of using multiple software systems, cash only, poor customer support, identity theft risks, and weak APIs.

    How PAYARC can help you stay up to date with the software industry trends this year

    We here at PAYARC have made it our mission to provide tech that makes integrations fast and easy. These integrations improve developer’s business models, as well as the merchant and customer experiences. Partnering with a payment processor and becoming an ISV is important for software companies — we’re here to be that partner.

    Are you ready to expand your software company in 2023? Talk to one of our specialists today!

    Payarc

    February 6, 2023
    Agent Insights, Industry Insights, ISV

We shape innovation, collaboration, execution.

Merchant Login
Partner Login

Payarc LLC is a registered ISO/SP of Chesapeake Bank, Kilmarnock, VA; Evolve Bank & Trust, Memphis, TN; FFB Bank, Fresno, CA; and a registered payment facilitator of Pathward Bank.

Privacy Policy | Terms and Conditions
Copyright © 2024 PAYARC. All rights Reserved

Solutions

Curv POS

Curv POS Restaurant

Payarc AI

Payarc Gateway

API Integrations

For Partners

Payment Facilitator

Merchant Accounts

E-commerce

Professional Services

Healthcare

Partner

Agent/ISO

Developers

Merchants

Referrals

Payment Facilitator

Contact us

Support

Talk to Sales

How to Switch

Investors

Company

About us

Careers

Blog

News

Knowledge Hub

Get in touch

support@payarc.com

+1 (877) 203-6624