Onboarding Merchants Best Practices
Onboarding Merchants with your integrated payments solution drives more revenue through your system while simultaneously improving merchant stickiness – and Tilled makes the process ridiculously easy.
Since day one, it’s been a part of Tilled’s core mission to get our ISV partners and running on our platform in a matter of weeks. Our APIs and SDKs make adding Tilled to any software system simple, without any additional staff or overhead, consultant’s fees, or startup costs.
For many B2B software companies, the most demanding part of using a new payment solution isn’t the actual implementation – it’s what comes after. The real work begins when you kick off merchant onboarding, but guess what? Tilled offers instant merchant onboarding, there are some best practices for making that instant process a little more, well, instant.
With our extensive experience in merchant onboarding, from selling payment services door-to-door to brick-and-mortar shops to token migrations for thousands of ISV customers, we’re here to help.
Why Merchant Adoption Matters
Before we dive in, we want to remind you why driving payment adoption is so important. The main reason? It creates stickiness. When a customer is relying on a system not just for scheduling, not just for records and organization, but also for payments, they are that much less likely to be swayed by a competitor to switch software. Offering payments through your software to your customers creates an all-in-one solution for their business, making your software not just a convenient tool, but an essential part of their success.
When your customers think about your software, would you rather them think of a computer program they could easily swap if something better comes along, or a vital solution they’d rather die than change? If it’s the latter, you need payments. For that, you need Tilled.
Onboarding Merchants Quickly and Painlessly
Now you know why it’s important for your merchants to process payments through your software solution, but what about how to get them onboarded efficiently and with as little friction as possible? Consider the following:
Use the Right Wording
When pitching our solution to your merchants, it’s best you present it as something that’s included in their services, rather than as an “add-on” or “optional.” People resist change, and when you offer it as a service that comes with your software, as opposed to something they have to choose, you’re more likely to see quick adoption.
Plus, offering it as “included” provides you with an opportunity to present the many mutual benefits that come with payments services; It can save your merchants time from having to deal with a secondary processor, may even save them money depending on their current costs, and offers a convenient solution where they deal with one, trusted partner for all their business needs.
Incentives Work
You can also offer incentives for merchants to sign up, such as discounts on processing fees or free terminals and equipment. If your software also offers integration into accounting solutions, processing payments in the same place makes keeping the books that much easier.
Highlight Key Benefits
When working with Tilled, you’re able to offer your merchants first-in-class support. Whenever they need help or have a question, your merchants can reach out to Tilled and receive instant support from actual human beings, with no added work or overhead needed on your part. As your payments partner, we take care of your customers just like they’re our own.
Rapid Merchant Onboarding
For some ISVs, merchant onboarding can be a big ole’ time suck, especially if you’ve been working with a legacy processor like Worldpay or First Data. With hundreds or thousands of merchants already processing payments through your system, the idea of changing processors can seem like a daunting task.
That’s why at Tilled, we’re excited to start offering what we call our Rapid Merchant Onboarding program. All a merchant needs to onboard to Tilled is a few fields of information they should already have on-hand (think the name of your merchant’s business, their address, phone number, etc.) and they can begin processing payments immediately. It’s even possible for you as the ISV to do it for them, auto-enrolling all of your customers to Tilled in just a few hours, and then following up with a short application so they can receive their deposits.
With this program, Tilled is continuing to provide industry-leading services and support, making payments easier for our partners. So stop spending months of time sending out PDF documents, trying to collect thousands of pages worth of information to monetize your payments. With Tilled, we’re making instant merchant onboarding even more instant.
Ready to learn more?
