Embedded Payments for NetSuite: 6 Ways You’ll Benefit

Embedded payment processing within NetSuite helps you efficiently process customer payments, offer diverse payment methods, lower card processing fees, automate manual processes, enhance security, and increase revenue.

Forty thousand businesses worldwide trust Oracle’s NetSuite solution to streamline their business processes and drive their growth. As the number one cloud ERP system, NetSuite does it all. For financial tracking, inventory and supply chain management, procurement, fulfillment, e-commerce operations, and more, NetSuite is a clear winner.

However, many NetSuite users are underutilizing their software solution’s best features. If you are running customer transactions through a third-party app, you could be missing out on significant savings. In addition to time and money savings, there are other benefits of running a tightly integrated, robust, embedded payment solution.

Enhance your NetSuite solution with a specifically-built payment processing solution from Versapay.  It will transform your ERP environment into a single source of truth for all your financial activities.

Centralizing, streamlining, and simplifying your payment acceptance can substantially increase sales. And because Versapay’s solution is built on NetSuite, your team won’t need to learn a new platform.

Why an integrated payments solution 

Versapay’s integrated payments solution is a payment processing application that seamlessly embeds inside your Netsuite ERP. The integration allows you to run customer transactions right in your ERP, giving you more control and security.

Here are the six top reasons to embed your payment processing within NetSuite:

  1. Reduce processing costs up to 40%

Credit card processing fees amount on average to 2% of all transactions. Versapay’s solution works with NetSuite to facilitate your payment processes and securely manage the flow of sensitive customer information. The more information credit card issuers have about the transactions you process, the higher your credit level and the lower your fees.

A payment processing solution integrated directly with your ERP can send relevant customer data with every transaction, resulting in lower interchange fees.

Embedded payment solutions with credit card processing functions and proprietary payment gateways put more control in your hands as the merchant. You can gather and use considerably more transaction data. The return on your investment in such a solution will be rapid.

  1. Cut manual processes in half

Traditionally, accounting  processes have required a large amount of manual input. Manual activities slow you down and cost you in both time and money. An embedded payment solution frees you from having to move data from one system to another. Achieve increased efficiency by automating manual processes.

When all your customer and transaction data is in one system, you can perform payment reconciliation in real time. You won’t have to track down files and manually match payments with bank statements. You are able to streamline accounts receivable operations and reduce your collections workload. Benefit from automated invoicing and integrated collections tools.

  1. Drive increased sales 

Today’s customers demand  a more convenient, flexible billing and payment experience.  Capitalize on increased digital shopping activity and capture more revenue by providing a diverse set of payment options.

An integrated payment solution will allow you to accept various payment methods. You can processes credit, debit, ACH, virtual cards, checks, bank payments, Apple Pay, and PayPal all in one solution.

Customers have strong preferences to how they want to pay. They are more likely to complete transactions if their preferred payment method is offered. With an average cart abandonment rate of around 70%, offering a choice of payment options can make a difference toward completing purchases.

  1. Accept payments immediately

Setting up your payment processing solution should be straightforward and painless. With Versapay, it will be. The digitization of accounts receivable workflows is often inhibited by a lack of IT resources and infrastructure required for support. Add to that third-party payment systems that demand a new set of skills from your already busy team and you’re spending more time onboarding and less time collecting payments. A NetSuite embedded payment solution tackles this issue head on and allows you to begin collecting payments quickly and across all sales channels.

A payment solution built for NetSuite will look, feel, and operate like NetSuite. There will be no setup fees or implementation expenses and hassles.

  1. Avoid payment fraud 

When accepting payments digitally, you need to be vigilant throughout the entire process. Many security vulnerabilities are highly preventable. An integrated payment solution will allow you to securely process orders and transmit sensitive customer data directly into your ERP.

An integrated payment solution provider that has its own proprietary gateway, integrates with popular shopping carts making transactions fast and secure.

  1. Reduce risk and chargebacks 

An embedded payment solution reduces the risk associated with accepting digital payments. It protects you and your customers and eliminates fraudulent chargebacks without dictating how your customers must pay or making the checkout process arduous.

The best embedded payment solutions have advanced fraud management tools to benefit merchants and customers. With Versapay, you’ll get a payment solution with a strong risk management engine and a track record of preventing fraud. It will detect and prevent e-commerce and credit card fraud for all transactions including online and card-not present transactions.‏‏‎ ‎

Seamless payments integration with NetSuite 

More than ever, buyers have choices. Make it easy for them to choose to do business with you. And make transactions easier for your B2B company with a solution that is easy to learn, easy to employ, and secure. Versapay’s built-for-NetSuite solution integrates seamlessly with your NetSuite cloud ERP to reduce manual processes, lower costs, eliminate fraud, and increase sales.

If you’d like to know more about Versapay’s embedded payments solution for NetSuite and what it can do for you and your B2B customers, contact our experts at Versapay and request a free demo.

By Versapay, www.versapay.com

 

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1 thought on “Embedded Payments for NetSuite: 6 Ways You’ll Benefit”

  1. CRM software is very important in running a business. In our company We have implemented Firmao and I can honestly recommend this program

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