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What are embedded payments and how do they benefit platform businesses?
Platforms are embedding payments at a growing rate. Learn about what they are and how they benefit your business.
Embedded payments are becoming a major selling point for SaaS platforms and marketplaces. By embedding payments into your platform offering, you gain full control over a functionality that’s crucial to the small and medium sized businesses (SMBs) that frequently use your platform.
SMBs are more than ready to use embedded payments. From research we conducted with Boston Consultancy Group (BCG), 69% of SMBs state that they’d change their payment processor if the solution were more integrated into their business process.
Embedding payments into your platform does more than attract and retain users. It opens up new revenue streams that will help your platform thrive in a changing landscape.
Before we dive deeper into the benefits of embedded payments, let’s start with the basics.
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