2 Benefits to Using Proprietary Payments Software

December 10, 2018

When thinking about your options for payment terminals and payment processing companies, the consideration of which software the terminal uses might not even cross your mind. But, when you think about the actual day-to-day use of the terminal, the payments software that it runs will have some of the biggest impact on its usability.

There’s a vast selection of payments software on the market, but they tend to fall into one of two categories: proprietary or generic. Proprietary software is traditionally created, published and owned by the company that originated it, and has it’s coding kept private. In the world of payments solutions, there are a number of reasons why proprietary software is a great solution for businesses, and a strong reason why to choose one payments provider over another. 

What is Proprietary Software?

As the name suggests, proprietary software is any software that is copyrighted and limits or bans its use or modification by parties other than its publisher and/or developer. The license of the software, and it’s ownership, also belong to it’s publisher and/or developer. There are no third parties that have access to the software’s code or back-end development platform, and no one is able to modify the solution except for it’s owner. In the worlds of payments proprietary solutions can be a great advantage, as they are created and worked on by the same company that actually processes payments.

Benefit #1 It’s Made Just For You

One of the benefits of using proprietary payments software is that it’s been created with the needs and wants of businesses just like yours in mind. Instead of being created by a third party that won’t actually use the software on a regular basis, or even speak to the people who will, it’s being created by a company that people already rely on for payment solutions. This means that throughout the ideation and creation process, what you need out of a payments software is being integrated.

For example, if in-house developers know from discussions with their sales team that a main concern for customers is that the software isn’t user friendly, they can design the software to be easy for the end user to navigate. In addition, they can have merchants beta test the solution before it goes into market to ensure it works the way it sound.  

Benefit #2: Simple End to End Support

Given that the payments provider owns the software and the coding it runs on, proprietary software can be easier to modify than competition; this can be a great help to businesses who need a little more out of their solution, or need it to work differently. For example, if you find the interface too cluttered with options, you could speak to your payments company to see if there’s a solution that could remove the options you don’t rely on. If you notice that a certain screen has difficulty running a loading screen, you could also tell your representative about the issue, and have it fixed.

If you’re interested in learning more about payment solutions, make sure to read our articles How to Choose the Right Payment Processor for Your Business and Payment Gateways 101: What They Are and How They Work.
 

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. 

Previous Article
Holiday Survival Tips for Merchants ft. Angela Brown, Moneris' President and Chief Executive Officer
Holiday Survival Tips for Merchants ft. Angela Brown, Moneris' President and Chief Executive Officer

Next Article
3 Ways Credit Card Acceptance Can Change as Your Business Grows
3 Ways Credit Card Acceptance Can Change as Your Business Grows