The emergence of cloud technology has had a major impact on the point of sale industry. The latest trend shows the POS industry pushing towards centralization. This process has generally involved the integration of two or more systems. Point of sale vendors can’t possibly give merchants access to every cloud technology. It takes the collaboration of different software providers through use of each other’s APIs to bring powerful and lucrative integrative technologies to businesses.
What is API?
Application Program Interface (API)
An API is a set of routines, protocols, and tools that enable programmers to construct connections between 2 or more software interfaces. These connections make it possible for applications to communicate exchange data. There are two ways to go about integrating your POS system with another desired system (CRM, accounting, eCommerce, etc.): a prefab integration or a custom integration.
What is Prefab?
Prefab integration involves premade integrations that are designed to provide common merchant services. They are the most common connections that POS vendors construct between their software and a third party.
What is Custom Integration?
Custom integrations are those that are built specifically for your needs. This requires access to the API’s of your POS vendor and whatever external software you want to integrate with. Please note that some companies charge for access to their APIs, so this should be considered in the overall cost of your custom integration.
Which One is Right for Your Business?
Prefab is a cheaper and quicker option that enables easy integration between different businesses. Why spend money and time on re-inventing the integration wheel? On the other hand, if you do take the time invest in customization, it may pay for itself and then some as consumers will value an innovative product that fulfills their needs. In the end, whether to choose prefab or customization depends on your business’s needs and what you can afford to spend to address these needs.
Now is the time for merchants to use APIs to expand their services and profits. EMB is a payment processor that provides high risk merchant services that support the needs of the modern merchant. EMB knows how important it is that your customers have access to multiple payment gateways. Our high risk experts will get your merchant account started in less than 24 hours.