Simplify Your Online Payment Solutions: Capture, Store & Deliver
Spreedly is a financial technology startup whose core product is a payment API. A little over half of our employees are developers, mostly working off of a unique and cutting edge Ruby stack. It stands to reason that the majority of our customers are also developers. Software engineers find us because our technology meets their specific requirements for online payment solutions. We provide free and easy access to a test version of our API and documentation. If our API is the solution they’re looking for, they become customers.
Certainly, there are other prospects for our product besides developers. In part we know this because our Business Case is downloaded between 200-300 times month. At this point in time, we currently don’t have much insight into who these people are or their particular interest in Spreedly.
This post is for those people.
While the Business Case does a very good job of describing Spreedly’s value proposition, we recently arrived at a new way to frame Spreedly’s services. We believe this new messaging augments the Business Case. More importantly, it allows business people to more quickly determine, just as the developers can with our test API, whether Spreedly is the right fit.
Here’s an easy way to think of Spreedly: Capture, Store, and Deliver.
Spreedly allows you to securely Capture your customer’s payment information, safely Store this information so that it can be easily reused (e.g., for repeat purchases), and flexibly Deliver the payment information whenever and wherever it needs to be sent in order to complete the purchase.
The first questions you have to ask yourself are as follows. Are you an online merchant selling your own products and services directly to the the end customer? Or, are you a commerce platform selling products and services on behalf of other businesses to the end customer (e.g., Travelocity)?
Beyond this, you really just need to consider which phase of the online payment solutions equation you need to address: Capture, Store, and/or Deliver.
If you’re selling online the first thing you need to do is securely capture your customer’s payment information. The challenge here, particularly for start ups and small businesses, is to minimize your PCI scope. The goal is to never have your customer data touch your servers. We provide various methods (iFrame, mobile app, Express, or via direct API) to securely capture data within your mobile or web application without data touching your environment.
Beyond securely capturing the payment information you may need to safely store this information. The reasons are many. For example, you may need to fulfill recurring or repeat purchases without having your customer re-enter their card data each time. Or you may have the need to pass your customers’ payments to more than one payment gateway. By de-coupling PCI compliance from any single payment provider you can reuse a customer’s stored data against multiple providers. Storing your customers’ payment information at Spreedly’s independent vault allows you to do these types of things and more.
And finally, to meet growing e-commerce demands, your business needs the ability to send payments whenever and wherever your customer requirements dictate. Whether it be global expansion and foreign currencies, the need to transact with 3rd party APIs, or to deliver your payments to a backup or failover gateway when your primary payment gateway is down, having options is key. Spreedly’s single API easily connects with 100+ gateways in 100+ countries, 3rd party APIs, and our batch payment solutions provide your business the flexibility you need to deliver on your promise with your customer.
A customer that exemplifies this Capture, Store, and Deliver approach is SeatGeek. As one of the premier event ticketing platforms, people visit SeatGeek to purchase tickets from one of its hundreds of event partners. SeatGeek wanted to provide a better user experience by allowing customers to buy tickets without leaving the SeatGeek check out. The challenge was how to create a seamless purchase while remaining PCI Level 1 compliant. Their ability to capture, store and deliver their customer’s payment information via Spreedly allowed them to create the two-tap payment process they were looking for.
Spreedly’s PCI compliant payment solutions allow you to securely Capture, Store, and Deliver payment information. By de-coupling PCI compliance from the payment provider, merchants and online marketplaces can build simple, secure and flexible payment stacks for mobile and web services. Let us know what you think of this Capture, Store, and Deliver approach to online payment solutions. We’d love to learn your opinion.