Platform Best Practices for Scaling Embedded Payments

Platforms and ISVs are increasingly embracing embedded payments as a core strategy to accelerate growth, boost revenue, and attract customers. Integrating embedded payments is a powerful way for platforms to stay competitive and fast track innovation. Equally critical is executing the right go-to-market strategy to scale adoption and ROI effectively. 

Mass enablement has emerged as the best practice for platforms introducing and scaling new embedded payments features. This has consistently been observed to be the approach to drive faster time to value when scaling embedded payments with Skipify across platform and IVS partners.

The ROI Behind Embedded Payments with Skipify

Skipify’s technology connects financial partners to customers and merchants to deliver seamless checkout and payment experiences. It empowers platforms with modular, high-converting white-labeled checkout surfaces that integrate seamlessly into platform’s technology, PSP and e-commerce stacks. 

Skipify is uniquely positioned to accelerate compounded ROI for platforms based on our demonstrated ability to uplift authorization and conversion rates. These represent tangible, immediate GMV gains that are core to our value proposition. 

Additionally, our partnerships have demonstrated that there is ROI beyond the monetary uplifts:

• One integration to Skipify’s core framework provides platforms access to future features – easily activated through simple configurations and little to no development work. 

• Bring a recognized customer experience to your platform without managing recognition technology or customer profiles – Skipify handles customer lookup directly within our financial partner network and securely authenticates identity through OTP or biometrics.

• Access to sophisticated payments infrastructure – real time payment methods vault, built-in account updater and advanced payments processing rails. Payment methods are automatically retrieved from the financial partner issuers in real time and processed using network tokens, minimizing declines and boosting authorization rates.

• Lightweight integrations layer onto your existing technologies – customizable, flexible and modular integration surface and framework to best fit your platform’s use case and preferred customer journeys

• Systems and PSP agnostic infrastructure – future proof, agile technology that aims to supplement existing state, not replace. 

Scaling Embedded Payments Smarter 

Mass enabling embedded payments maximizes the ROI realization, ultimately unlocking immediate value from the partnership and avoiding a slow, resource-intensive rollout. This model allows platforms to realize rapid ROI across the full base with minimal lift, while offering flexibility to clients who may wish to opt out. 

Pricing in ROI

Skipify has demonstrated measurable improvements of up to 6% in approval rates and 9% in conversion rates. Aligning on the pricing model and clearly understanding these authorization and conversion uplifts are critical to driving a no-brainer, mass-enablement GTM strategy.

Accelerate time to value and market differentiation 

Mass enabling Skipify as a whitelabeled offering activates a full deployment of the platform’s embedded payments capabilities and offerings.  

This enables platforms to take advantage of rapid GTM momentum and marketing tactics that can be effectively used to promote the platform’s growth and further develop payments strategy. Additionally, widespread adoption allows platforms to iterate faster by leveraging real-time data and actionable insights.

Simultaneously, clients benefit sooner while avoiding lengthy activation processes typically associated with opt-in models – powerful levers that build client trust and loyalty. 

Avoid operational drag and missed opportunity cost with opt-in rollouts

Opt-in models typically require hands-on sales and support processes that drag out momentum. Valuable time, effort and resources utilized for driving individual opt-ins divert precious focus from platform’s higher impact initiatives. 

Additionally, opt-in typically results in a long tail of inactive clients which result in wait time, lost revenue and insights. In an increasingly competitive landscape to retain and grow business, this can open the door for churn or platform switches.

The Takeaway: Mass Enablement as the Key to Scalable Growth

In conclusion, mass enablement is increasingly becoming the winning playbook for bringing embedded payments to market. Leading platforms are quickly embracing this go-to-market strategy approach for its ability to produce stronger network efforts and deliver a clearer path to ROI.

Skipify’s results highlight just how powerful this approach can be by driving measurable lifts in both conversion and authorization rates. With the right go-to-market strategy, embedded payments don’t just enhance the checkout experience, but unlocks and accelerates real growth for platforms and their partners.

Reach out to our team to learn more here.