4 Must-Have Features for a US-Based Canadian Payment Processing Solution
The infrastructure for Canadian digital payments has been a long time in the making. For years, payments giant Interac has been a leader in building digital payment infrastructure in the country.
Now, US-based payment solutions can leverage this infrastructure and further transform it with proprietary technology. This includes empowering ISVs and merchants with embedded payments and omnichannel payment systems.
Below, we discuss the essential features needed for US-based business to process payments in Canada.
Top Features for US / Canadian Payment Processing Solution
Any powerful payment processing platform should include several features, regardless of the country, like multi-currency support, customization, and multiple payment options. But here are four specific features to consider when thinking about processing in a Canadian ecosystem:
- Local payment options: Accepting local payment methods, including Interac debit acceptance and other forms of electronic funds transfer (EFT), is essential. Simply accepting card-not-present (CNP) or card-present (CP) is not enough.
- Loyalty programs: When it comes to accepting payments, it’s not all about credit cards and digital transfers. Gift and loyalty programs can also help businesses build revenue and boost customer retention. Having a platform that integrates these features with your regular payment options enables you to get creative with your overall payment strategy.
- Omnichannel approach: Not all customers are keen to use a credit card—and even if they are, merchants may need to accept their payments via phone, computer, or in-person. An omnichannel approach to payments streamlines the experience for both the merchants and customers.
- Seamless customer experience: The end customer may abandon their cart during the payment process, particularly if it takes too long or looks unsafe. A platform that offers detailed customization without sacrificing local compliance standards helps merchants optimize their processes. The increase in revenue then filters down to their software provider so everyone wins.
Optimize Your Payments Strategy
Fortis has long been a leader in embedded payments in the United States, and solutions are just starting to expand to Canadian customers. ISVs and merchants processing in Canada can now access the Fortis Platform’s full suite, award-winning APIs, and thorough guides. To learn more about this recent expansion, read the formal press release, here.
To find out more about the Fortis Platform’s support for payment processing in Canada, schedule a call or download this one-pager.