In the payments world, cloud technology is poised to transform the industry. By leveraging the scalability, reliability, and accessibility of a cloud-based payment system, any digital device can be freed of the limitations inherent to traditional payments. Instead, cloud-based payments process digitally, agnostic of physical point-of-sale terminals.
Between card-present and contactless purchases, online orders, and everything in between, cloud-based payments offer a completely omnichannel solution with a world of opportunities.
Payroc has seized on that opportunity with the development of PayByCloud.
PayByCloud allows integrators to take advantage of Payroc’s full stack of payments solutions on a variety of hardware terminals with little to no coding effort. PayByCloud also solves for integrators’ need to find a single gateway for multiple payment types.
The benefits of PayByCloud are plenty.
Historically, integrators leveraging both card-not-present (CNP) and card-present (CP) solutions rely on a dual or split integration where the POS calls the gateway for CNP and the device for CP payments. The integration itself is lengthy and requires quite a bit of coding and testing to make sure that payments are processed correctly. And if the integrator is utilizing different processors, they also have to handle the settlements process separately.
PayByCloud simplifies the entire process, making it possible for integrators to take advantage of CP payments through the same gateway.
This simplified API code means less time developing core payment solutions and more time for the ISV to focus on their own software applications.
For ISVs and merchants alike, managing multiple payment devices requires costly development, testing, and certification cycles that are time-consuming and outdated. PayByCloud eliminates these activities and delivers a wide range of benefits for ISVs, merchants, and Payroc.
Another advantage of PayByCloud is the flexibility and scalability it affords integrators and merchants. The integrator can choose to offer one or multiple devices available on PayByCloud or take advantage of any other advancements or new devices added in the future. With a single integration, it’s easy to set it and forget it.
More flexibility means companies can deploy payment technologies much faster compared to using a traditional IT system. Cloud-based payments systems like PayByCloud allow integrators to deploy any payment technology, in any market, within weeks.
PayByCloud sits on top of the Payroc gateway, giving merchants access to all available functionality and solutions.
Integrators working with Payroc can add PayByCloud to the solutions they offer, including hosted payment pages, virtual terminals, shopping carts, and accounts receivable. Even payments solutions in the Payroc Choice family of products can be added to the integrator’s offering. One of the most popular is RewardPay.
Payroc’s RewardPay is a natural fit for merchants because it gives them the ability to offer options to their customers and typically helps reduce their cost of card acceptance by up to 70% compared to traditional flat-rate or interchange-plus pricing plans. Granted, if a merchant’s debit to credit card ratio is high, this may not be the best option, but it’s still much cheaper to accept debit cards than credit cards.
By including solutions like RewardPay, integrators give merchants the choice of how they want to accept payments, and merchants give end consumers the choice of how they want to pay. So, this surcharging model is a win-win-win for integrators, merchants, and end customers.
Payroc’s Consumer Choice is a dual-pricing program that gives customers the “choice” of making a standard payment with their credit card or paying a form of cash. Both prices are displayed on the payment device in CP environments. In CNP environments, customers can “click to pay” and choose to pay by credit card or ACH, with prices for each. Payroc leverages an electronic check processing platform integrated into the Payroc gateway ecosystem, which also allows for a margin on cash payments.
One of the most exciting aspects of PayByCloud is its broad device availability, including Ingenico’s newest line, the AXIUM Series. As new Android hardware becomes available, they are added into the ecosystem so that downstream integrators can take advantage of these benefits.
PayByCloud is compatible with any type of hardware that integrates with Payroc, as well as a range of POS systems. And because Payroc handles all of the PCI certification for devices, there’s no need to worry on the integrator or the merchant side of the business.
Cloud-based payments stand to truly revolutionize the industry and reshape what’s possible for financial transactions. In turn, Payroc’s PayByCloud offering allows integrators to break free from traditional constraints, enhance security, simplify integrations, and provide unparalleled convenience to businesses of all sizes and industries.
For more information about PayByCloud and other Payroc products, contact us.