The simplest way for digital platforms to embed payments and financial services

Developing a simple embedded payment solution for multi-vendor platforms seems like an impossible mission. Maya, our Product Lead, has faced the challenge. We sat down for a fireside chat to discuss how UNIPaaS enables a wide range of digital platforms to embed payments and financial services faster and more easily than ever before.

The Challenge

Results

Headquarters
Verticle
Founded
Company size
Maya Carmeli, Head of product

Developing a simple embedded payment solution for multi-vendor platforms seems like an impossible mission. Maya, our Product Lead, has faced the challenge. We sat down for a fireside chat to discuss how UNIPaaS enables a wide range of digital platforms to embed payments and financial services faster and more easily than ever before.

What is the scope of the UNIPaaS embedded payment solution ?

UNIPaaS provides an end-to-end solution for platforms and marketplaces. End-to-end means we handle everything from Onboarding and Pay-in to eWallet Management and Payouts. In other words, the entire payment cycle. Developing a comprehensive solution like this was an intentional decision that aimed to unify the accounting process commonly operated with an external payment provider and manual payout operation. We wanted to make the entire process flexible and simple for multi-vendor platforms of all sizes and capabilities. Ultimately, this required us to build UNIPaaS from the ground up using the most cutting-edge, secure and scalable technologies.

What are the challenges when developing an “embedded” payments solution?  

There are two common approaches for implementing a payment solution. On the one side of the spectrum, there is a hosted link. A hosted link, as the name suggests, does not enable an embedded experience. It requires users to leave the platform experience to onboard or make payments in an external environment. On the opposite side of the spectrum are APIs. The API approach enables a fully embedded experience yet requires platforms to invest considerable integration efforts as well as to comply with data protocols and regulations like GDPR.

Our team has been developing the middle ground that we believe hits the sweet spot between these two approaches, enabling simplicity of implementation, flexibility, and a fully embedded experience. Of course, platforms and marketplaces can achieve the same outcomes with APIs, which was the best practice for years. But doing so comes with significant drawbacks, as I discussed earlier. The UNIPaaS embedded solution gives the option to implement a super simple solution without worrying about security, data collection, and regulations such as GDPR. We take care of UX, security, validation, and GDPR within a platform and brand experience as well as providing ongoing regulatory monitoring.

Why do platforms and marketplaces wish to have an embedded solution?

Platform owners want to move fast, yet may lack the manpower or resources needed. . With minimal resources, the API route is not an option. However, from my experience, platforms understand the importance to their success of delivering a seamless embedded experience. The user experience was considered much less important ten years ago, but as we've progressed and many new online services online services have popped up, optimising the user experience is now critical from day one - the main reason for this is because platforms must battle to attract and retain vendor communities, such as sellers, creators, influencers, etc.

Another consideration for platforms is loyalty. Even smaller platforms today wish to provide their own branded payments experience to increase retention and stop their users (including suppliers and vendor communities) from jumping to other competitors.

More prominent platforms are already building "walled gardens". UNIPaaS is here to empower smaller players to face competition and increase loyalty.

What are the main guiding principles for your UX design?

We built UNIPaaS to empower platform owners and finance teams. One of the most powerful capabilities we deliver is controlling and viewing multi-vendor payment flows on one centralised system. To enable this in the most impactful way, we followed three guiding principles.The first is simplicity. Users must find it easy to navigate, understand and use the solution. If a user has to run through a menu with twenty items, it's not simple; it's complicated and will only lead to confusion and a feeling of being overwhelmed. We worked hard to ensure every user touchpoint and the UNIPaaS API are simple. The second principle is mobile compatibility. Most payment providers invest in desktop because they assume their users will use their laptop when running their payment operations. We believe platform owners want to run their businesses from anywhere on their mobile devices. We designed our solution so platforms can view all their payment operation metrics and take action on their mobile. If they need to block a vendor or change a fee, they can do this while on vacation or wherever they are using UNIPaaS.The final principle is flexibility. Our team broke down each element to enable any user to embed payments and financial services into their experience, no matter how big or small.

How easy is it for small platforms to get started with UNIPaaS?

We offer a great deal of flexibility with three integrations, a no-code hosted link, embedded UI, and APIs. We also look to understand the needs of users and the results they require now and in the future. We help customers get started, and our team of payment experts is with them every step of the way, guiding them through our process.

What features and capabilities can I test in the sandbox environment?  

Everything! Try it for yourself. Plus, we provide a test data sample to show how it will look after data is uploaded.

What guides you as a product leader when simplifying complex problems?

What guides me and is something which I always explain to the team is that in order to  build a simple solution we need to work harder to solve the complexities on our side. Developing a simple solution seems easy but it means someone behind the scenes has done a lot of work and considered all the potential scenarios that could occur.

Discover just how easy it is to implement and sign up to open a sandbox account.

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Lotanna Ezeike
Lotanna Ezeike
Founder @ XPO
“UNIPaaS is a perfect partner for us. We share the same combined vision on the future of banking and having them power our financial operations is a no-brainer. Beyond the amazing capabilities provided by the UNIPaaS platform, we receive incredible service from them.”