Trust in Payments: What Established Enterprises Look for in an Embedded Payments Program Provider

Trust and reliability are non-negotiable when choosing an embedded payments program provider. But, with enterprises facing numerous challenges and rapidly changing demands in the marketplace, they require more than just a dependable partner. They also seek out efficiency, security and adaptability, regardless of their specific industry. 

A major retailer might need branded prepaid cards as part of a loyalty program. An insurance company could require a fast, secure way to disburse claims to thousands of customers. Or maybe it’s a global enterprise looking to pay freelancers seamlessly and at scale. The common denominator? An embedded payments program provider that can deliver flawlessly.

The stakes are high. A data breach, system downtime, or compliance misstep can result in lost revenue, as well as damage to customer trust and a company’s reputation. And yet, finding a provider that checks all the boxes is no easy task. In this blog, we’ll break down the challenges enterprises face and the key qualities they should demand from their payments provider.

Challenge #1: Ensuring Security and Compliance

Anytime a business deals with moving money, it involves sensitive financial data including customer details, bank accounts, and transaction histories. The risks for businesses when doing this are enormous - in 2023, businesses lost an estimated $8 trillion globally to cybercrime, a number that is expected to rise to nearly $24 trillion by 2027.

Adding to security concerns is the threat of penalties resulting from non-compliance with payment security regulations. The Payment Card Industry Data Security Standard (PCI DSS) is a key set of guidelines developed by major credit card companies including Visa, MasterCard, American Express, Discover, and JCB. This global framework establishes best practices for protecting cardholder data. When evaluating payments providers, enterprises should prioritize a supplier who is certified under the PCI DSS framework, not merely claiming to be compliant. Certification means the provider has proven their compliance with the highest industry standards including data encryption and other advanced security features.

Challenge #2: Scaling Without Compromising Reliability

As enterprises grow, so do the demands on their payment systems. Whether it’s onboarding new customers, expanding to new markets, or adding new use cases across the business, scalability is crucial. A payment solution needs to handle these demands without sacrificing performance or reliability.

Scalability means being able to manage sudden peaks in demand, such as during sales, seasonal shopping events, or high-traffic campaigns. Payment systems have to be able to handle these spikes, and even for reward and gift cards those spikes can be high and fast.  For example, $3.3 billion was loaded onto Starbucks gift cards in 2022, a large proportion of that on December 23rd as Americans dashed to buy last-minute Christmas presents. 

Here’s what enterprises should look for in payments providers to ensure their systems are both scalable and reliable:

• Customization and Flexibility: They should offer highly customizable payment options to meet all different business needs. This flexibility ensures that payment programs can scale effortlessly as a business grows or diversifies. 
• High-Volume Issuance and Management: Look for a provider equipped to handle large-scale issuance of cards, particularly during peak periods. Whether supporting holiday campaigns or onboarding a surge of new users, their systems should have the capacity to manage high volumes efficiently.
• ‍Integration with Global Networks: A scalable payment service should connect seamlessly with established payment networks like Visa and Mastercard. This integration supports a wide range of use cases and helps businesses expand without needing complex system upgrades or additional infrastructure investments.

Challenge #3: Balancing Customization with Flexibility

Enterprises need payment solutions that strike the perfect balance between customization and adaptability. Tailored features, like branded prepaid cards or the ability to set spending restrictions, ensure that solutions meet the specific needs of the business. However, these business needs are constantly changing, which means the right payment solution must also offer the flexibility to evolve alongside those changes.

The ideal payments provider allows enterprises to customize prepaid card programs for a range of scenarios—whether it’s a loyalty program for customers, payroll for employees, or marketing incentives. Equally important, these solutions should support real-time adjustments so businesses can update their spending limits or program rules instantly, ensuring they remain relevant under fast-changing circumstances.

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Look for the customization features that matter:

• Tailored Branding: Branded prepaid cards reflect the company’s identity, enhancing customer loyalty and employee engagement.
• Specific Use-Case Features: Customizable parameters, such as spending limits, expiration dates, and region-specific controls, allow departments to fine-tune solutions to their goals.
• Seamless Integration: Payment systems should integrate smoothly with HR platforms, loyalty management tools, or financial systems to minimize friction and maximize efficiency.

Challenge #4: Accessing Proactive Customer Support

When it comes to payments, problems can’t wait. Delays or disruptions are frustrating and can lead to lost revenue and strained relationships with customers and employees. This is particularly true with real-time payments, where an issue can hold up critical transactions and interfere with processes across regions and time zones. 

Whether it’s a payout that didn’t go through or a tricky compliance question, you need more than just a reactive support team. The real difference comes with a provider that solves problems before you even know they exist.

Here’s what to expect from a top-tier payment provider:

• 24/7 Availability with Real-Time Problem-Solving: No matter when an issue pops up, you should have support at your fingertips, especially if your business spans multiple time zones.
• Dedicated Account Managers: Having a personal account manager means there is someone ready to offer quick solutions and tailored advice. 
• Actionable Insights and Optimization Guidance: An account manager should be regularly reviewing payment programs, so they can proactively suggest ways to save money, streamline processes, and keep customers happy.

Challenge #5: Leveraging Data Analysis

Every transaction generates a host of valuable data - from customer demographics to purchasing behavior and fraud indicators. But, without the tools to analyze it, enterprises miss opportunities to get valuable insights and improve their processes and decision-making. 

Enterprises need payment providers that turn raw data into actionable insights, so look for a provider who offers: 

• Dashboards with Clear Visualizations: Payment platforms should provide intuitive dashboards that display key metrics in a visually interesting and easy-to-understand way. 
• Integration with Analytics Platforms: Seamless integration with existing analytics tools allows enterprises to merge payment data with other datasets, such as sales or customer service records, opening new worlds of analysis and insight.
• Exportable Reports: The ability to generate and export detailed reports in various formats is crucial. These reports allow teams to share insights across departments and provide documentation for compliance or audits.

Challenge #6: Overcoming Cross-Border Challenges

For enterprises with teams or operations across both the USA and Canada, providing accessible and reliable purchasing power to individuals or teams regardless of their location is critical. For example, there are thousands of American businesses that operate in Canada, yet do not have a seamless or reliable way to enable employees in Canada to cover local expenses.  

The right payments provider should make it easy for enterprises to manage payment programs in both countries. Here’s what to look for:

• Localized Payment Solutions: A strong provider offers tools like prepaid cards or real-time payment platforms that employees or contractors can use in both the USA and Canada, ensuring they have access to funds tailored to local needs. This avoids the complexity of currency exchanges or reliance on local banking systems.
• Global Acceptance: Ensure the provider partners with established networks like Visa or Mastercard, allowing cardholders to make purchases at millions of merchants without hidden fees.
• Compliance Across Regions: Handling regional regulations can be daunting, but the right provider has the expertise to manage compliance in both countries. This minimizes risk and ensures smooth operations.

Challenge #7: Saving Time and Money

Building an in-house payment system might seem like the ultimate way to maintain control and tailor a solution to your needs, but the reality is far more complicated. Developing, maintaining, and scaling that kind of system comes with great effort at substantial costs. And that’s before factoring in the risk of downtime or compliance missteps.

By contrast, partnering with an external payments provider brings efficiency and expertise. Ready-to-deploy solutions that are fast and cost-effective also come with the added benefit of pre-built regulatory compliance and deep industry knowledge, making them an invaluable ally.

What to look for in a payments provider:

• Cost-Efficiency and Scalability: A great provider offers competitive pricing models that eliminate the need for heavy upfront investments in infrastructure or staff. They should also offer scalable solutions, where you only pay for what you need as your business grows.
• Rapid Deployment: Time is money. The right provider will integrate with existing systems quickly and seamlessly.
• ‍Turnkey Offering: A provider should take the heavy lifting off your plate by offering end-to-end solutions - ready to use with minimal setup and no operational headaches.

Berkeley Payments: Checking All the Right Boxes

Berkeley understands these challenges because we’ve been solving them for enterprises across North America for over a decade. Our solutions offer:

• Security and compliance built with cutting-edge technology and rigorous standards.
• Scalable infrastructure that supports growth without hiccups.
• Customizable solutions tailored to your business needs.
• Data insights that drive smarter decision-making.
• Proactive support that puts your needs first.

Contact us to learn how we can build the best solution for your enterprise.