How the Right Payments API Impacts Your Bottom Line

Andrew Campbell

Head of Platform Sales, Multi-Party Commerce Solutions, J.P. Morgan Payments

A scalable payments solution, based on a robust API, can be far more than a moneymaker. It can provide valuable data that helps cut business costs, drive strategic decisions, improve customer satisfaction, and even give your marketing a boost.

Improve Customer Satisfaction

With a truly comprehensive payments API, you have the ability to tailor the look and feel of the payment entire user experience, for your merchants and their customers. You can also test which approaches work best, survey users, and ask for feedback in order to make improvements.

This is not simply a question of looking great. Truth is, it’s all about boosting conversion and customer retention. According to Appcues, getting users to engage with an interface is the most important part of retention. And unfortunately, 75% of users churn within one week, if the interface is poor. That said – on the other hand – studies show that a good user interface can increase conversion rates by up to 200%.

Show Me the Monetization

The right payments API offers you a simple and transparent buy rate while giving you control of merchant pricing. In other words, it offers a usage-based model, where you are only charged based on activity, and rates that include everything you need: processing, settlement, compliance, chargeback, and fraud liability.

A powerful payments API will also allow you and your merchants to accept more ways to get paid, which can boost the volume of transactions on your platform. According to research published by and, 56% of consumers expect to have more than one payment option at checkout – whether it’s the credit card that gives them the best rewards, or tech-savvy methods like Apple Pay.

The Power of Data Is in How You Use It

When your company uses an API for payments, it’s simple to collect data on average merchant transaction size, preferred payment method, or any other quantifiable information that can be aggregated from transactions. Gathering and mining this data pays big dividends.

First of all, it can help you lower costs and make strategic business decisions. You might be putting resources behind a payment pathway that very few customers use. Shifting these resources to higher-traffic payment options is strategically smart.

Second, this data can be used to help your marketing efforts be highly targeted, and thus more effective. Based on past behaviors of merchants and buyers, you can create email campaigns and other messaging opportunities that speak to where they are, as well as where they want to be.

Risk Management and Protection

You might be exposing your platform to serious risks from scammers and other criminals who want to defraud your company. Only the best payments APIs include rock-solid risk management and loss protection systems. At WePay, because we are part of the J.P. Morgan family of companies, we even take on the liability, preventing losses for your platform.

Then we go farther, identifying collusion fraud, merchant fraud, merchant risk, and risk of non-compliance to prevent your exposure to these threats. When regulatory overhead is handled by the company providing the payments API, the costs of compliance – and the potentially huge fines for not complying – are minimized as well.

Your Success Is Our Success

Using the right API for payments can have a meaningful impact on your company’s bottom line. A robust API that supports multiple payment methods and provides risk management can help boost profitability and the future success of your business.

At WePay, we work to be your one-stop shop for maximizing payments and can help you achieve monetization quickly and easily. And because J.P. Morgan processes more than 50% of all card-not-present transactions in the U.S., we will continue to offer competitive pricing.

Schedule an appointment if you want to learn more about the business and technical benefits of using a payments API.