Sequence / Timelines
Going from a very hands-off referral payments strategy to a successful embedded payments strategy, won’t happen overnight. From interviews with hundreds of platform partners, we see the following sequence when going to market or optimizing your embedded payment experience.
Decision to support an embedded payments strategy.
Start hiring product and payments owners and setting up your organization for all implications this new product proposition will bring (tax, risk, support).
Start your implementation into Adyen for Platforms with the help of our project and implementation managers.
Create commercial and product strategy to offer additional user benefits of an integrated payment setup (this is important and we advise not going to market without it). You don’t want to sell standalone payments without any additional benefits of an integrated setup (like automated reconciliation, integrated refunds, chargeback support, or data insights). If you skip this step and start selling payments after integrating with Adyen, your sales team that has only sold software before will compete on (low) prices against well-educated payment reps of local banks and local payment service providers. We can guarantee results will remain below expectations.
Once you have an integrated product and commercial strategy (see Commercial strategy), consider creating a brand for your payments offering (see Market your payments solution)
Start selling your payments offering as part of your software suite (see Selling your payments solution) and educate your support organization (see Supporting your users) on the most popular payment questions.
Once you’ve mastered embedded payments, consider adding embedded financial services (Capital, Accounts, Issuing).
Realistically, you look at anything between 6 months to 12 months to get this plan going. This timeline varies based on complexity of your business, global footprint, offered channels, and other factors. It serves only as a reference point and your account manager, project manager, and integration manager will help you finetune a (launch) strategy for your specific business needs.