API integration seems like a heavy concept, but it can be made pretty simple, and it is a vital aspect of running a business that sells products online. They allow websites to become far more versatile, and they offer many of the basic features that consumers have come to expect from online stores. As a result, businesses that fall behind on the technology end up with less business.
With that said, it only takes a few basic bits of knowledge to take action and make an online store as user-friendly and feature-rich as possible. To give business owners an idea of how to take advantage, we will provide a full rundown of third-party API integrations.
This will include:
- What an API integration is
- Why businesses should use them
- How they can get started
Let’s dive into each subject so we can get a holistic look at third-party API integrations.
What is a Third-Party API Integration?
API integrations are when two separate websites or applications connect their application programming interfaces (APIs) to allow them to access data from the other through their own apps. For example, a shipping API integration would allow an online store to connect with the shipment order tracking and cost estimation programming so that consumers can see exactly what shipping will cost at checkout.
This is why modern websites can tell consumers what an item will cost, how long it will take to ship, what methods they can use to pay, and so many other conveniences. API integrations allow online stores to have access to information from all of their business partners so that consumers can be informed about every step of the purchase on the same website, even if the merchant they are shipping with doesn’t handle every aspect of delivery.
Why Should Businesses Use API Integrations?
There are a few key benefits of using API integrations that make them a no-brainer for businesses that sell online, such as:
- More attractive to customers
- More information for both parties
- Increased payment flexibility
More Attractive to Customers
API integrations not only offer features that attract more customers, but they also offer the ability to attract customers that use the application with which a merchant is integrating. For example, if people like to use a certain payment processor or financing provider, they may be more likely to use merchants that will allow them to finance through that provider at checkout.
More Information for Both Parties
When integrating APIs, both integrated platforms get to benefit from data sharing. By opening this software pathway, developers can present more helpful information to their consumers and analyze it themselves to improve their products. The shipping API example works well as a demonstration, as it is useful to both the merchant and the consumer to know exactly when orders will be shipped and when they are supposed to be delivered.
Increased Payment Flexibility
Some of the best API integrations in the current market are those that allow merchants to offer financing at the point of sale (POS). In fact, merchants who do this see a 20-30% increase in conversion and a 30-50% increase in average ticket size. Luckily, there are many different partners that can connect merchants with lenders through a simple software platform that can deploy in a matter of weeks. Skeps is one of those partners.
Get Started With Skeps’ POS Financing Platform
There is no more comprehensive platform for eCommerce financing than Skeps’ POS financing platform. This integration allows consumers access to a full library of financing options, including:
- Buy now, pay later (BNPL)
- Store credit cards
- Consumer loans
We also offer a variety of helpful features. One of those is omnichannel integration, meaning our platform can integrate with any website, app, or billing system. We also offer one-click financing applications to ensure a frictionless application experience and unmatched speed of approval to keep customers from getting stuck waiting for a response. We work with a network of quality lenders, assuring consumers that they will always be presented with the best offer possible.
On the business side, our customizable dashboards collect and display any metrics that business owners would be interested in tracking, and users have complete control over which metrics are available at first glance. This gives sellers ultimate control over the function and the data reporting available through the platform.