In recent years, the SaaS model has flourished due to the many benefits it offers to merchants of all sizes and types.
But what is driving merchants to take advantage of SaaS solutions? To name a few, lower initial costs, painless upgrades and seamless integration.
Today, with pre-integrated SaaS solutions, businesses can quickly and affordably integrate payments into their ERP systems and at the same time completely remove cardholder data from their system. This makes PCI compliance a cinch and licensing fees a thing of the past. By eliminating the storage sensitive cardholder data through a SaaS tokenization solution, merchants can realize a multitude of financial, operational and security advantages over traditional enterprise encryption solutions.
Here are the top 10 benefits of deploying tokenization via a SaaS model:
- No need to worry about updates or upgrades (the credit card associations make at least two automatic updates per year)
- No costly maintenance; it’s all taken care of offsite
- No capital expenditures for licenses, hardware and servers (just a small monthly fee to process transactions)
- Lower total cost of ownership of payment acceptance
- Quick upstart, less time to deploy the solution vs. doing it in-house
- Reduction of downtime costs—if something goes wrong, the solution provider remedies the situation immediately
- Reduction of support costs
- Scalable solution, particularly when opening new sources of revenue through call centers, web stores and new geographies
- The opportunity to offer customers top-level card security by removing cardholder data from their systems entirely, utilizing tokenization technology
- Protection of the company’s brand by mitigating the risk of a data breach