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The benefits of integrated payment solutions

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Last editedJun 20232 min read

As a business owner, one of your top priorities should be ensuring that your payment process is efficient and easy for your customers, since this results in better conversion rates. But how should you go about this? Integrated payment solutions are one of the best ways to streamline the payment process, so it’s a good idea to learn more about them and how they can benefit your business.

What are integrated payment systems, then? In simple terms, they are a way of keeping your digital processes as efficient as possible, connecting payment processing and merchant services with other aspects of your business. It’s essentially a method of streamlining the way that you collect payments from your clients.

Ready to use integrated payment processing for your business? Keep reading to find out more about how it works and how it could benefit your company.

An overview of integrated payment systems

Integrated payment processing can be a great way to maximise your business' overall efficiency. It’s a broad term that covers a variety of different payment processing systems, but they all tend to reduce the workload for you as a business owner, connecting invoices to payments, software, accounting and payroll.

When a customer makes a payment through an integrated payment processing system, the data is automatically rerouted to accounting and bookkeeping so that you have the appropriate record of the transaction. What’s more, it can also link up with payroll so that you can automatically pay the relevant parties if needed. Work is minimized for you and your accounting team, leaving you to focus on other areas of the business.

What are the benefits of integrated payment processing?

Now that you know a little bit more about this software, you might be wondering about the benefits of integrated payment processing for business growth. There are a number of reasons why many businesses are choosing these solutions, including:

  • Saving valuable time. Integrated payment solutions remove the need for a lot of manual data entry tasks, freeing up your employees’ time. There’s no need to enter income and expenditure into your accounts, as this is taken care of automatically by payment integration software.

  • Greater efficiency for both you and your customers. With integrated payment solutions, you can set up automatic payments so that (after the initial set up process) no one has to do anything. An easier payment process also results in a greater conversion rate, and therefore, greater profit margins.

  • Integrated payment processing avoids the possibility of human error. With manual data entry, you’re much more likely to introduce mistakes into your accounts, which can have a negative impact on your business decisions down the line.

  • Using payment integration software can improve your business cash flow. Without these solutions, it’s not always easy to make sure that you get paid on time. With integrated payment solutions, you can automatically collect payments from clients on the day they are due, ensuring you always have a predictable cash flow.

How can GoCardless help with integrated payments?

If you’re considering introducing integrated payment processing into your business, GoCardless provides an effective and efficient solution. After a one-time, simple set-up, you can automatically collect recurring payments on their due date, meaning you won’t have to spend time chasing up late payments.

What’s more, GoCardless’s Success+ payment intelligence system is designed to reduce payment failures. When a payment doesn’t go through, Success+ automatically attempts to collect it again, resulting in the recovery of over 70% of failed payments on average. This creates a smoother experience for customers and a better cash flow for your business.

We can help

GoCardless is a global payments solution that helps you automate payment collection, cutting down on the amount of financial admin your team needs to deal with. Find out how GoCardless can help you with one-off or recurring payments.

Over 85,000 businesses use GoCardless to get paid on time. Learn more about how you can improve payment processing at your business today.

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Interested in automating the way you get paid? GoCardless can help
Interested in automating the way you get paid? GoCardless can help

Interested in automating the way you get paid? GoCardless can help

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