How Integrating Payments Enhances User Engagement and Drives Revenue: Insights from CSG Forte and Rentec Direct

“Especially in the software space, when we talk about customer experience, there are really two layers of the customer experience—the merchant ... and the end user,” Don said. “And this is pretty typical in the software space. The software provider has a double-pronged challenge: to make it easier for the merchant, who is their direct customer, and also easier for the end user, who is their indirect customer.”

Increased Revenue Opportunities

Integrating payments into software platforms also creates new revenue opportunities. Jessica highlighted the potential for revenue sharing models and upselling additional products or services. "Some payment partners offer revenue sharing models while others were billing the merchant directly,” she explained. “Or we can build a partner, and the partner will, in turn, build their merchants. That also comes into upselling and cross selling, whether there are different opportunities offering additional products or services."

Don reported that Javelin research indicates that more software companies are realizing accepting payments online can be a revenue driver for their business. By working with a reliable payment partner, software companies can unlock new revenue streams and drive growth. Nathan shared how Rentec Direct has experienced significant growth by integrating payments into their platform. Companies like Rentec, which handles all aspects of property management between landlords and tenants, are able to scale rapidly by beginning to accept payments, Nathan explained. “The number one reason [property managers] come to us is to accept online payments. We have more people signing up for the Payment Capabilities than anything else.”

By offering integrated payment capabilities, Rentec Direct has not only attracted new customers but also helped their existing customers grow.

Improved Security and Compliance

Security and compliance are critical considerations when integrating payments into software platforms. Jessica Tate emphasized the importance of data encryption and compliance with industry standards. "We also have data encryption, and compliance ensures secure handling of sensitive payment data, and it helps maintain trust with the users as well." By partnering with a payment processor like CSG Forte, software companies can ensure that their payment solutions adhere to all necessary security and compliance requirements, protecting both their business and their customers.

Don agreed with Jessica that businesses, such as Rentec Direct, benefit from partnering with an existing payments provider, and he says he’s seeing more and more businesses request payments capabilities be included in their software “because it’s such a critical part of the workflow.”

“There’s so much good payments capability in the market today that it very rarely if ever pays for a software company to build its own payments interface,” Don said. “It’s better to find a partner that already has the right connectivity through the right payment links and the right technology.”

Nathan Miller also highlighted the importance of fraud detection and prevention. "It's really comforting to know that we've got our filters and our checks, and then forte has a whole different level of experience with the payment processing, and they're catching everything that we might miss." By leveraging the expertise of a trusted payment partner, software companies can enhance their fraud detection capabilities and provide a safer payment experience for their users.

Why CSG Forte?

Integrating payments into software platforms is a game-changer for businesses looking to enhance user engagement and drive revenue. By offering a seamless and intuitive payment experience, unlocking new revenue opportunities, and ensuring robust security and compliance, software companies can stay ahead of the competition and meet the evolving needs of their customers. CSG Forte, with its comprehensive payment solutions and industry expertise, is the ideal partner for software companies looking to integrate payments into their platforms.

To gain more valuable industry insights from Jessica, Nathan and Don, listen to the segment in its entirety on the PaymentsJournal Podcast . To learn more about how CSG Forte can help your business enhance user engagement and drive revenue through integrated payments , contact us today . Our team of experts is ready to assist you in implementing a seamless and secure payment solution tailored to your needs.