Sophisticated Payment Functionality is Easier Than Ever Before

As the world becomes increasingly digital-first, consumer demand for personalised convenience mean those selling online need slick, functionality-rich payment systems.

However, while modern capabilities have made it easier than ever to capitalise on advanced payment technologies, many businesses still opt for basic, clunky solutions. 

At our platforms event, Sam White, Technical Director at Red Badger, helped highlight how business leaders can implement compelling payment systems and why choosing a market-leading technology partner, like Adyen, can streamline the implementation.

Dispelling the Complexity Myth

Many businesses still pick out-of-the-box systems when setting up payment functionality, but opting for a bespoke alternative is now much easier than before and opens the door to revenue generation and improved user functionality.

Setting up advanced payment functionality is no longer a cumbersome and complex process. The reality is now quite different. Sam White explains, “The answer is, it’s not as complex as a lot of people think it is. Modern platforms have simplified the integration process dramatically.” However, while the process has been simplified, having a knowledgeable guide saves time, money, and tears.

The Evolution of Payment Technologies

Looking back, integrating payment systems once involved numerous intermediaries and technologies, however, “payments and integrating payment products... into existing products and companies is much easier than it used to be”, Sam explains. Today, advancements in API connectivity and data-driven processes have made this job more accessible and efficient.

Embracing Alternative Payment Technologies

The rise of alternative payment technologies has shown that there’s a significant appetite for diverse payment options. Sam notes, “What we've seen in the last few years with the rise and now maybe fall of Klarna is that there is an appetite for alternative payment technologies at checkout or at different parts of a flow.”  This flexibility can greatly enhance the customer experience and open new revenue streams.

Real-World Success: Toast

A prime example of leveraging integrated payment systems is Toast, a restaurant SaaS platform. Toast recently surpassed Shopify in terms of embedded payment and finance monetization, with 87 per cent of its overall gross revenues last year coming from these products. This success story illustrates the massive potential for businesses that effectively integrate embedded finance systems.

Steps to Simplify Payment Integration

For businesses looking to integrate payment systems, here are Sam’s practical tips:

Integrating payment systems is no longer a daunting task. With the right platforms and a strategic approach, payments can be transformed into a significant revenue stream. “It’s much easier than it used to be, and the benefits are substantial,” Sam assures. By simplifying payment integration, companies can enhance customer experiences, drive growth, and maintain a competitive edge in the evolving digital market.

At Red Badger, we’re committed to helping businesses unlock the potential of their payment systems, turning them into powerful business assets. Feel free to reach out to our team to discuss your requirements with one of our experts.