Payment intermediation is fundamental to a fully functioning business. Especially considering the growth of e-commerce, financial digitalisation or the increase  on the quantity of payments to third parties. However, it is not always easy choosing the provider. And it is at this point that many companies end up taking risks. 

In this text, we will look at some of the characteristics of payment processing companies, the changing cost involved in switching providers and how to avoid or reduce these costs. 

What to consider 

Contracts with financial service providers are complex. In general, intermediaries negotiate long-term agreements, preventing early termination. Prices vary according to the amount and complexity of services provided, and most importantly, each uses a different systemic mechanism

This means that not being entirely familiar with the service, you can experience potential headaches. Payments not received, delays in confirming payments and the very internal difficulty of operating the new system and checking that it is working correctly for customers and the company, being among them. All of those problems affects the final changing cost.

Changing Cost 

By all these assessments, it is possible to understand the  changing cost involved in switching payment processing providers. It is necessary to breach a contract, thoroughly analyse the other system and give the team time to understand how the new company works.  

There is also the risk of customers not being happy with the new provider. With the system not working correctly, it can cause even more wear and tear to the operation and your brand. Would you change your service eight months before the end of the term of your contract

Solution 

Because we understand the importance of early knowing to ensure the smooth running of the payment processing system, WePayOut offers a fast integration to reduce your changing cost.  

Know some of our features: 

  • Payouts via instant payments - Pix or bank transfer 
  • Split billing with the management of sub wallets; 
  • Generation of payment link; 
  • Use of QR code for receipt of funds; 
  • Panel for viewing payments and account balances 

You can still carry out all these operations with WePayOut's new Pix integrated solution, Pix Billing. It brings together all these benefits in one single Pix transaction. This novelty will be launched soon, first with a version only for national payments and, later, with the possibility of being used in international transactions.  

Conclusion 

With several payment intermediaries, it is crucial to consider the conditions of each one and which best fits the financial needs of your company.  

This includes available payment methods and the speed in confirming payments. Ideally, you should ensure that the integration is fast and that the features are ideal for yout company before hiring the system to check the form of operation and usability.  

WePayOut was founded by professionals with many years of experience in the national and cross–border payment industries. With extensive industry know-how, there is a focus on creating the best solution for our customers. An extremely motivated team has led WePayOut to build a diverse and technological product focused on client experience satisfaction and the reduction of the changing cost.

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