The Transformative Power of Integrated Payments

Offering a unified commerce experience is imperative for merchants competing in diverse global markets. Integrated payments centralize transactions across devices and locations onto a single platform—unlocking revenue growth, operational efficiency and customer loyalty.

The Definition and Landscape of Integrated Payments

Integrated payments consolidate credit cards, debit cards, bank transfers, digital wallets, cryptocurrencies and more into one seamless checkout flow. Instead of juggling disconnected systems, omni-channel sales funnel through robust APIs and dedicated payment gateways.

“By 2025, consolidated payments platforms will control 65% of eCommerce transactions.”

PayFacilitators (PayFacs) and payment service providers facilitate everything from simplifying regulatory compliance to settlement, funds disbursement and security monitoring. Top providers include:

PayFacs

• Stripe
• PayPal
• Square
• FIS

Payment Service Providers

• Adyen
• Fiserv
• Global Payments
• FIS

Many offer developer-friendly SDKs and tools for customizing checkout experiences across websites, mobile apps, brick-and-mortar stores and more.

Key Stats Around Integrated Payments

• Integrated payments are projected to grow into a $18.5 billion industry by 2027, according to ResearchAndMarkets. This represents an impressive 16% CAGR.
• 73% of customers prioritize merchants that offer multiple payment methods, per PYMNTS research.
• PwC found 86% of shoppers would switch stores due to a lack of payment flexibility.

For merchants, centralized payments present a $907 billion revenue opportunity from enhanced conversion rates and larger order sizes.

Top Benefits of Integrated Payments

PayFacs and omnichannel software remove friction during transactions. Consumers can freely use preferred payment types everywhere a merchant operates. This convenience pays dividends.

1. Increased Sales Revenue

With accelerated checkouts, businesses earn more from each client. Key metrics improve:

• Conversion Rates – Adyen helped L’Oreal Japan boost conversions 209% through unified commerce.
• Average Order Value – Levelset grew AOV by 5% from offering flexible online payments.
• Cross-selling – Streamlined payments give staff opportunities to discuss additional products.

2. Lower Expenses

From reduced platform costs to tightened reconciliation labor, integrated payments cut overhead:

3. Improved Operational Efficiency

With a centralized reporting dashboard and simplified workflows, managers better track KPIs. Staff also facilitate orders faster thanks to minimal checkout steps.

PayFacs automatically classify transactions, connect inventory systems for stock syncing and support label printing. Such automation keeps operations humming.

4. Enhanced Customer Experiences

73% of customers rate payment flexibility important. Integrated platforms like Adyen help merchants meet expectations:

Evaluating Payment Facilitator Providers

When assessing PayFac solutions, prioritize features that support business goals, locations, budgets and existing infrastructure.

Top providers cater to organizations across sizes and verticals:

Implementing Seamlessly Across Channels

With the right PayFac, quickly activate modern payments:

1. Assess checkout points – Document existing POS, cash wrap, web and mobile experiences. Look for gaps in payment types.

2. Onboard with PayFac provider – Configure supported sales channels and integrations based on business needs.

3. Optimize staffing – Update roles for improved payment analytics review, settlement automation and customer consultation around new options.

4. Promote capabilities – Marketing, in-store signage and associate talking points help drive usage. Measure take-rates for adjustments.

Omnichannel Commerce Best Practices

When activating integrated payments, provide flexibility regardless of channel. For example:

In-Store Retail

• Update POS systems and work with PayFacs to support contactless payment terminals, QR codes and mobile tap.
• Train cashiers on new device workflows.
• Utilize customer data to offer cross-sell opportunities during checkout based on purchase history.

eCommerce

• Show all accepted payment icons early in shopping journeys.
• Optimize forms for desktop and mobile input.
• Support guest, account holder and wallet checkout options.
• Set up alternative payments as backups if a method fails.

Service Industries

• Let clients pay for appointments, delivery and pickups directly in online booking platforms.
• Generate payment links that can be emailed and paid instantly.
• Sync invoices with data on payments received.

Enterprise Organizations

• Funnel B2B payments through corporate cards, purchase order systems, bank transfers and more.
• Automate accounts receivable with tools for consolidating statuses across locations and partners.

Integrated Payments Transform Business Performance

When combined with sound operational strategies, integrated payments facilitate scale and bottom line growth. Benefits manifest across objectives from financial KPIs to long-term positioning:

Revenue Growth

• 97% of omnichannel merchants see sales gains over 5% annually
• Average cart conversion rates improve by 29% over 12 months

Cost Savings

• Process an average of 31% more transactions per month with no additional labor
• Cut third-party payment platform fees by 17% through consolidation

Customer Loyalty

• 81% of shoppers prefer the ease of unified commerce experiences
• 67% of customers purchase more frequently from merchants with integrated payments

Competitive Edge

• 58% of mid-market businesses say consolidated payments are critical to keeping up with customer expectations
• Omnichannel leads 3X higher enterprise valuations by evaluating firms

Integrated payments merge simplicity and flexibility into winning checkout flows. PayFacs make centralizing transactions across sales touchpoints smooth while unlocking revenue growth and loyalty. By taking an API-first approach, financial pillars and customer experiences continuously improve through innovation.