Best Practices for Merchant Onboarding

Onboarding Merchants with your integrated payments solution drives more revenue through your system while simultaneously improving merchant stickiness – and Tilled makes the process quick & 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.

Expanding Rapid Merchant Onboarding to Assist With Account Migrations

For enterprise software companies, the idea of changing processors can seem like a daunting task. With hundreds or thousands of merchants already processing payments through your system, migrating your entire customer base to a new payment processor can be a big ole’ time suck, especially if you’ve been working with a legacy processor.

That’s why at Tilled, we’re scaling our digital and instant merchant onboarding to help enterprise ISVs get their entire merchant portfolio up and running with our platform in less time. Soon, the process will be streamlined to where only a few fields of data are needed to begin processing payments immediately. Ultimately, with this streamlined digital enrollment process, the ability to migrate all of your merchants to Tilled quickly and easily won’t be a pipe dream anymore.

With this program, Tilled is continuing to provide large portfolios with industry-leading services and support, are you ready to?learn more?