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)
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.
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