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Integration with native NetSuite
Is payment processing embedded in native NetSuite fields and accessible on the records where payment transactions occur? Is the provider a certified NetSuite partner? A solution built for NetSuite will ensure integration that works and adapts as NetSuite evolves. It also delivers seamless, real-time reporting for more effective cash flow management.
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All-in-one payment processor
An end-to-end payment processor fulfills the entire range of front- and back-end functions, from authorization of the transaction to deposit of the funds in a business’s bank account. This cuts out the middleman, reduces fees, and puts them in a better position to problem-solve. There are very few end-to-end processors serving U.S. businesses and even fewer integrated to NetSuite.
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Level 2 and level 3 processing
There is no escaping payment processing fees. But there are options to reduce fees if you have the right payment processor. One that understands how to support your business to qualify for level 2 and level 3 interchange savings for eligible B2B and B2G transactions can help you reduce those fees.
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Support for a wide range of payment methods
Customers will spend more with merchants and suppliers that accept their preferred payment methods, so look for a payment processor that supports payment acceptance of all major card brands and ACH payments. Payment methods should be easily accessible in the relevant NetSuite records where transactions occur (e.g. Sales Order, Invoice, Credit, etc.).
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Rich online and mobile capabilities
With ecommerce up more than 30% in the past year and smartphones in every person’s hands, effective online and mobile payment capabilities are a must. Find a processor who makes it easy for customers to securely self-pay at their convenience.
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Up-to-date technology
Online, in-store, and off-site: payment processors should provide modern payment technology. Work with a payment processor who can help you assess which acceptance channels are best suited to your business, whether those are EMV chip-enabled terminals or mobile apps to accept payments on the go.
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PCI compliance
There is no grey area about PCI compliance. Every business that accepts or supports payment card processing must adhere to the Payment Card Industry Security Standards Council rules to protect customer payment card data. Ask for proof of your processors’ compliance how they help your business maintain compliance.
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Fraud management
Along with PCI compliance, payment processors offer fraud prevention features such as the Address Verification Service (AVS) and Card Verification Code (CVV). Those services can be optional, so be sure to activate them to reduce your exposure to fraud.
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Modern reporting tools
Reporting tools that offer clarity about sales, cash flow, and other important data are available for businesses right within NetSuite. If you aren’t using a payment processor integrated with NetSuite, you are not seeing the impact of payments and deposits for card and ACH transactions. You’re also squandering one of the most powerful benefits of NetSuite reporting.
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NetSuite-knowledgeable customer service and support
Live, 24/7 telephone customer support can answer your questions and help solve problems quickly. But that isn’t enough for a NetSuite user. Payments support by people who understand NetSuite is essential.
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