Payment systems make it easier for businesses to conduct transactions. These reliable applications handle everything from verification to the movement of money. These gateways have become visible and accessible thanks to technology. Having one for your business can help you reach customers who would otherwise be unable to engage.

Payconiq offers businesses the flexibility of choosing how to approach their payment system. You can choose either a stand-alone application or an integrated one.

Stand-alone apps

A standalone app doesn’t need to connect to any network to fulfil its payments and other services. Since it is a dedicated program for your business, you have the freedom to choose its features. You can use it not only as a way to interact with customers but also as a tool to fulfil any backend needs. Here are some ways you can use a standalone app:

  • Integrate CRM tools and practices
  • Built-in accounting
  • HR processes through the app
  • eCommerce and payments
  • Customer accounts and programs
  • Business information

Having an app can be a very convenient way to connect with customers. Instead of browsing the internet to do business, all they have to do is open the app.

Having a payment gateway that can work on your app will be one of the most crucial features. Many platforms fail in this regard due to compatibility issues. You’ll need a skilled team who understands who to play their payment system and have it work for your app. It requires a deep understanding of both the technicalities and the user experience aspect.

One challenge you’ll have to face is collaborative applications that have many services built into them. They are, by default, a more convenient program to have. All the services and businesses they need come in one app. You’ll have to make an effort to justify why your app deserves space in your audience’s mobile phones. You’ll need to find an edge that keeps your customers. It can be anything from exclusive content, easy accessibility, promotions, and more.

Integrated apps

An integrated app doesn’t require much work to connect to your business. Most of these types of products are already up and running. All you need to do is connect your business to the payment system, and it will do the rest for you. It’s a very convenient way to get access to a gateway.

The upside of going integrated is that it will save you money. Typically, creating a standalone app will require more time and resources. By having an integrated payment system, you cut down on those costs and get to selling right away.

Most customers don’t hesitate to conduct business when they are already familiar with the payment system you are using. If they’ve used it before, they won’t have to think twice when they’re putting in their account details.

There isn’t much freedom to add apart from that. The payment system isn’t yours, so you can’t integrate any data gathering or CRM programs. It is convenient, although you will need to weigh this benefit against the cons to find the right solution for your business.

Weigh your options

Both apps have their upsides and downsides. It all depends on your business’s needs and which app will bring the most benefit to your company and target audience. The good news is that there are payment systems out there that work for both kinds of frameworks.

A transparent company like Payconiq can adapt a payment system to work with your preferred application. It’s a smart move as it won’t take away from your service, and you’ll also get a dedicated team ensuring the service is accessible. Contact us today if you’d like to find out more.

References:

  1. https://medium.com/swlh/a-guide-to-standalone-applications-and-why-enterprises-need-them-1764fd1f8a0c
  2. https://www.mx51.io/post/integrated-vs-standalone-payments-the-lowdown