What are Embedded Payments for Small Businesses?
Embedded payments refer to the seamless integration of payment processing directly into software platforms or business apps, such as Clover and Revel. For small businesses in the restaurant and retail sectors, this technology eliminates the need to redirect users to external gateways, allowing for frictionless one-click checkouts and faster transaction speeds. According to benchmarks, this can accelerate checkout speeds by 30-50% and help reduce cart abandonment.
To implement embedded payments, small businesses typically need the following:
- Compatible hardware, such as Clover Mini or Flex terminals.
- An active merchant account with competitive wholesale rates and no setup or cancellation fees.
- Integration with supported software platforms like Clover, Lavu, Revel, or ShopKeep.
- Technical configuration using APIs to embed processing directly into the POS app.
Key benefits for small businesses include streamlined operations, reduced hardware dependency, and the ability to achieve cost savings through programs like cash discounting. Qualifying merchants may also be eligible for free POS hardware and next-day deposits to improve cash flow.
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