Charge for the usage of other payment providers
It's important to know that the most successful SaaS platforms make it mandatory for users to sign up for its payment offering. For the strategy to be effective, the software product being offered must have strategic value and compelling benefits, such as plug-and-play integration, automated reconciliation, and additional payment types, that outweigh the potential higher cost compared to the users' existing setup. Users must be willing to switch payment providers despite paying more for the all-in-one solution compared to their current standalone solution. We advise to create these benefits and eventually cut all existing integrations to legacy banks and other payment service providers. It’lll help with the attachment rate of your payments offering, and it'll be more cost-efficient over time maintaining only one payment connection.
While the most successful monetization strategy is typically offering an all-in-one payment solution with compelling benefits, there may be situations where platforms need to be flexible due to factors such as availability in certain countries. In such cases, we recommend to charge users for the use of other payment providers through additional fees per transaction or a monthly flat fee to maintain the connection to a third-party payment gateway. For instance, some platforms have charged as much as $400 per month for using a different payment provider other than the platform's own payment offering.