Vertical Payment Providers: Tailored solutions for every industry

In the context of digital transformation and the growing demand for frictionless user experiences, vertical payment providers are gaining relevance across various industries.

Unlike traditional payment providers that offer general solutions for all types of sectors, vertical payment providers like Bemobi focus on adapting their services to the specific needs of each industry, providing platforms that go far beyond simple payment processing.

What is a vertical payment provider?

A vertical payment provider is a company that offers specialized payment solutions for specific industries, integrating them efficiently into the digital experience of the end customer. Pedro Ripper, CEO of Bemobi, explains it clearly:

We integrate payment solutions very closely with the digital experience of the customer with your company. This is where we differentiate ourselves from other payment providers.

This means that Bemobi's approach not only focuses on facilitating payment but also on doing so in a way that enhances the user experience and adapts to the particularities of sectors such as telecommunications, healthcare, education, and essential services (Electricity, water, and gas).

How does a vertical payment provider work?

The concept of vertical payments is based on thoroughly understanding the specific needs of each industry and developing solutions that align with the needs of their end customers.

For sectors like education or telecommunications, where recurring payments play a fundamental role, it's essential to have an efficient, flexible payment system that is fully integrated with the user experience.

Regarding the common characteristics of industries that use these types of solutions, Pedro Ripper highlights three main aspects:

• Recurring Payments: These sectors offer services that customers need to pay for every month, such as electricity bills, water bills, or the monthly fee of an educational institution.

One of the industries that most utilizes recurring payments within their strategies is Internet Service Providers. You can read more information in the following article: Efficiency + Security: The Advantages and Challenges of Recurring Payments.

• Essential Services: These are priority payments; even in complex economic situations at a national or global level, users must continue paying for these services to keep them running and avoid interruptions.
• Transition to Digital Payments: Although many of these industries used to rely on more traditional methods like bank slips, digitalization is driving a shift towards more agile solutions like omnichannel payments with credit cards or Pix in Brazil.

Key differences with traditional providers

Traditional payment providers typically offer standardized solutions for any type of industry, which can lead to problems adapting to the specific needs of more critical sectors.

In contrast, vertical payment providers specialize in a few industries and develop tailor-made solutions designed to solve the unique challenges of each sector. Additionally, they manage to integrate payment methods into a single digital experience, distinguishing themselves from what the traditional market offers.

Why is it important to have a vertical payment provider today?

Today, vertical payment providers are increasingly important because they enable companies to optimize their billing processes, reduce delinquency rates, and offer a better payment experience to consumers.

Instead of generic payment solutions, companies can rely on a specialized provider that understands the specific needs of their industry and offers a more functional, flexible system adapted to consumers' digital habits, giving them the ability and convenience to make their payments digitally and seamlessly.

In an increasingly digital world, where the customer experience is a priority, vertical payment providers are the best option to ensure seamless transactions and integrated experiences.

If you want to learn more about Bemobi's payment solutions for Telecommunications, Utility companies, Education, Internet Providers, Healthcare, or Finance companies, we invite you to complete the following form, and we will contact you as soon as possible.