How To Tap Into The Potential Of APIs and ISV Partnerships and Integrations
Last year when the Pandemic exposed vulnerabilities in business models, it showed how unprepared, fragile and rigid business models were in the face of crisis. But organizations that quickly recalibrated their strategic plans using the principles of composability were more prepared to withstand the pandemic due to its modular design’s agility.
As an Independent Software Vendor(ISV) Stax works with a number of software partners to give sub-merchants total control over how they operate their businesses. In our last blog, we took a deep dive into the benefits of ISV partnerships and integrated payment partner programs. But how do APIs and ISV Partnerships work? Here we’ll take a deep dive and examine what an API is and how the Stax API provides additional value to your customers.
What is an API?
An API allows a developer to integrate one technology’s functions and features into their own technology. That means with the Stax API, your business can integrate Stax payment processing for ISV and data into an existing application or system.
For instance, if your company has a customer-facing app, you can use the Stax API to securely accept payments from inside your app as well as view analytics.
Stax Payment Processing API also supports the ability for ISV sub-merchants to accept both card-present and card-not-present transactions right from their platform. This saves these businesses time and money since they would no longer have the need to use other third-party payment providers.
Through Stax Connect, the API enables the software business the ability to offer their users a more complete, all-in-one solution. As a result, ISVs are easily able to extend the capabilities of their platform without the need to waste valuable time and resources on development.
Gartner predicts that, through 2022, 60% of organizations will prioritize transitioning to a composable enterprise model.
There is a critical need for businesses to move towards the adoption of composable architectures and software components developed around a specific business vertical to allow an organization to build models of larger software suites connected via API.
What’s the Value of an API?
Stax API adds value to existing technology, easily extending your platform’s capabilities and functionality. Businesses and software providers can quickly add a full suite of tools at their disposal.
Business users and providers are able to view data analytics from a single dashboard and manage their customer’s information. You can also manage one-time or recurring payments and create professional customizable invoices. If your customers pay online, you can build hosted payment pages. Your customers will get an all-in-one experience that they can’t get anywhere else. Stax Payment Processing API tokenizes payment information, so you can be confident your data remains secure.
And it goes even further as the API can integrate with other solutions. Software Vendors are able to provide customers with a unique, customizable payments experience from end to end on their platform.
How the Stax API Fits In with Independent Software Vendors (ISVs)
Stax API is backed by thorough documentation and a seasoned team of developers. Stax offers developer-friendly SDKs, and the RESTful API works both online and on Android and iOS devices. We also offer a full Javascript library.
The in-house development team also works alongside each ISV to develop and integrate the right technology to fit exactly what’s needed for their users. With support from an experienced team of integration experts, Stax Connect’s API opens up the ability to have custom experiences through payment integrations that are tailor-made for your platform.
Stax Connect also supports custom application fees to generate revenue for your business. Since Stax is a certified payment facilitator, you can instantly onboard customers and bypass lengthy approval processes. The application process only takes 4 minutes, with a 24-hour approval time. Ultimately, Stax Connect will give you the resources you need to succeed and create an immersive experience for your users and their customers.
FAQs about API
Q: What is an API, and how does it work in ISV Partnerships?
An API (Application Programming Interface) allows a developer to integrate one technology’s functions and features into their own technology. In the context of ISV (Independent Software Vendor) partnerships, an API such as the Stax API allows businesses to integrate Stax payment processing and data into an existing application or system.
Q: How does the Stax API provide additional value to customers?
Stax API adds value by extending a platform’s capabilities and functionalities. For example, business users can view data analytics from a single dashboard, manage customer information, schedule recurring payments, and create customizable invoices.
Q: What role does the Stax API play in the context of Independent Software Vendors (ISVs)?
The Stax API, supplemented by thorough documentation and a seasoned team of developers, enables ISVs to develop and integrate the right technology for their users. This could range from payment integrations to custom application experiences.
Q: How do APIs contribute to the success and sustainability of business models?
APIs contribute to the success and sustainability of business models by enhancing their flexibility and interoperability. Particularly in the face of crises, organizations that use APIs to create composable business models are better prepared to withstand disruptions due to the agility of modular designs.
Q: What are the benefits of API integration for a user-facing app?
Companies with user-facing apps can use APIs to securely accept payments from within their app, view analytics, manage customer information, and handle both card-present and card-not-present transactions. This not only enhances the user experience but also saves businesses time and money as they no longer need to rely on third-party payment providers.
Q: How does Stax support ISVs in integrating their API?
Stax offers developer-friendly SDKs, and the RESTful API works both online and on Android and iOS devices. The in-house development team works alongside each ISV to develop and integrate the right technology to fit exactly what’s needed for their users.
Q: Why are industry experts predicting a rise in the adoption of composable architectures?
Industry experts anticipate a rise in composable architectures because they allow organizations to build large software suites connected via APIs and focused on specific business verticals. This approach provides businesses with the agility and resilience needed to adapt to rapidly changing market conditions and technological advancements.
Q: How can APIs assure data security during transactions?
APIs like Stax Payment Processing API tokenize payment information, ensuring that data remains secure during transactions.
Q: What unique experiences does Stax Connect offer through API integration?
Stax Connect’s API opens up the ability to have custom experiences through payment integrations tailor-made for your platform. It supports custom application fees, faster customer onboarding, and provides the resources needed to create an immersive experience for the users and their customers.
Q: What does it mean when a company like Stax is a certified payment facilitator?
Being a certified payment facilitator means that Stax can bypass lengthy approval processes, enabling quick and efficient customer onboarding.
Ready to take the next step with Stax? Contact us to learn more about Stax Connect and the software benefits of using integrated payment technology.
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