How ecommerce application providers can strengthen product lines and develop revenue streams
http://www.accountingfacts.net/articles/7154/1/How-ecommerce-application-providers-can-strengthen-product-lines-and-develop-revenue-streams/Page1.html
Wayne Akey
Wayne Akey
http://www.ACH-Payments.com
Secure, Efficient Payment Processing Solutions
Guaranteed to Save Time and Money
To learn more on how you can save 80-90% or more on fees visit http://www.ACH-Payments.com By Wayne Akey
Published on 04/20/2010
How an ASP/software developer can drive corporate profits and become the company MVP.
How ecommerce application providers can strengthen product lines and develop revenue streams
How an Ecommerce app provider can develop ancillary recurring revenue streams and strengthen product line.
Most developers are busy working on their next release. Keeping a product line relevant and up to date entails endless hours of programming time.
If you have an existing app or are in development you may want to consider adding a payment processing component. Many if not all applications targeted as B2C or B2B would benefit from the ability to accept/initiate a one-time or recurring debit to the customer's credit card or checking account. By integrating this ability into your product you benefit on a number of levels.
First and foremost you provide your end user with a more powerful product. Distinguishing your app from a competitors because you offer a billing solution will result in more market share. In addition you are able to share in revenues generated from the payment processing partnership. In many cases this recurring revenue stream not only can provide capital for further product enhancements but in time can drive significant profit to the company bottom line. Many ASP providers drive as much revenue from partnerships as thy do from licensing/sale of the app itself. If you already offer payment processing you may want to explore partnerships for their revenue share potential.
Partnering with a third party payment processor also allows for off-loading of PCI compliance (credit card data security). Some developers may have considered adding payment processing but the complexities and costs of becoming PCI compliant see too daunting to overcome. The right partnership will offer a roadmap for maintaining compliance and data security standards. In addition payment related support is typically handled by the third party processor.
If you are a developer or an ASP provider and you have an interest in the payment processing benefits you may want to visit OpenPayments where you can enter the development contest. $25,000 is being awarded and the recurring revenue component is also available.
If you'd like a white paper on Payment Integration and the benefits you can perform a search for "ACH Whitepapers"
Most developers are busy working on their next release. Keeping a product line relevant and up to date entails endless hours of programming time.
If you have an existing app or are in development you may want to consider adding a payment processing component. Many if not all applications targeted as B2C or B2B would benefit from the ability to accept/initiate a one-time or recurring debit to the customer's credit card or checking account. By integrating this ability into your product you benefit on a number of levels.
First and foremost you provide your end user with a more powerful product. Distinguishing your app from a competitors because you offer a billing solution will result in more market share. In addition you are able to share in revenues generated from the payment processing partnership. In many cases this recurring revenue stream not only can provide capital for further product enhancements but in time can drive significant profit to the company bottom line. Many ASP providers drive as much revenue from partnerships as thy do from licensing/sale of the app itself. If you already offer payment processing you may want to explore partnerships for their revenue share potential.
Partnering with a third party payment processor also allows for off-loading of PCI compliance (credit card data security). Some developers may have considered adding payment processing but the complexities and costs of becoming PCI compliant see too daunting to overcome. The right partnership will offer a roadmap for maintaining compliance and data security standards. In addition payment related support is typically handled by the third party processor.
If you are a developer or an ASP provider and you have an interest in the payment processing benefits you may want to visit OpenPayments where you can enter the development contest. $25,000 is being awarded and the recurring revenue component is also available.
If you'd like a white paper on Payment Integration and the benefits you can perform a search for "ACH Whitepapers"