Table of Content
Table of Content
The Advantages of Integrated Payment Processing
Why should you choose payment processing?
Payment Optimization Suggestions
Payment Getaway Integration
Making the First Steps towards an Integrated Payment System
How to Select the Best Integrated Payment Processing Solution for Your Business
The majority of Americans shop online for everything they need. It doesn’t matter if you have an online or offline shop; it is important to have software that allows customers to make payments for goods purchased. Integrated payments allow you to combine your software and payments. This is often done with an EHR or POS system.
What is the point of not having payment Processing for business owners? It can be difficult to keep financial records organized.
You must also take extra precautions to ensure you manage your money properly. These issues can be avoided by integrating payment processing.
This guide is for business owners who want to learn more about integrated payment processing. It will also explain how the right processor can help you take the stress out of your financial day!
The Advantages of Integrated Payment Processing
Customer satisfaction is the key to running a successful business. Customer satisfaction is key to any successful business. You need to be able to offer a range of payment options to your customers. This is possible with integrated payment processing. You can provide your customers with an exceptional experience by integrating your payment processor with point-of-sale software. This will make it simple and painless for them to pay you for your products and services. It will also make it easier for you to track your sales. Additionally, an integrated payment processor can help you save money on transaction fees. Integrated payment processing can help you save money on transaction fees.
Why should you choose payment processing?
Processing debit and credit card transactions can be time-consuming. Keep the receipts safe and attach them to your accounting software.
Once you have completed this process, it is possible to make the payments. You can make the payments if there is an error.Automation Integrated processing is a way to alleviate this pain and automate the process. Many customers prefer to pay with a card than in cash.
Payment Optimization Suggestions
Reduce Fraud
All card payments require a CVV. To prove their location, you can use their IP address for online payments. Multi-factor verification and transaction identification for unsure transactions.
Upgrade Your System
Your system might be causing the payment to be rejected. In some cases, out-of-date payment processors may not be able to accept new cards. It will fail to process the payment method if this happens. It’s important to keep it current so that customers don’t get rejected cards.
Mobile-Friendly
Many users shop and browse on their smartphones. For ease of use for customers, it is a good idea to update your payment processor so that it can work with mobile systems.
Each device can have its own interface. Phone screens are smaller than usual, so they will be able to see all the details.
International Payments
Online payment options are available once you have left the United States. Many shoppers in Asia don’t use an international credit card to buy items. You must offer your customers choices if you want to be unique in a global marketplace.
Payment Getaway Integration
Payments can be made using software and business systems. It’s much quicker and easier to accept payments if everything is in sync.
You’ll have additional capabilities.
You will receive the order from the customer, either online or physically, during this process. The next step is to enter the credit card information into the software. The payment will be processed further by the integration software. You can jump reconcile transaction data that you need to manually enter. Once the sale process is complete, all payments are made automatically.
Accounting will also be very easy as it displays the transaction history in real time. You can also jump-post payment information to many systems.
Improve Customer Service
Did you know that 25% of U.S. customers prefer to shop online and avoid long lines? Online shopping has led to U.S. retailers losing 100 billion dollars annually.
This system will make it easy to complete the checkout process in less than a second. Customers can choose to shop online, or self-checkout. Each customer can be targeted by your team at the same time.
Data Security
Did you know that Sony suffered a data security breach in 2014? Hackers can take company documents that are fragile and erase data.
Companies face security challenges. The entire process is protected by a processing system that secures the personal data of all consumers.
It will protect their identities, bank account information, and credit card numbers. To avoid making mistakes, the US trust companies are for your payment processing system.
These errors and omissions could lead to hacks and other costly issues. A payment processing system will safeguard your customer’s information both at the point of sale and during transit.
Many customers are aware of the security issues that exist and want to ensure that you have a secure and trustworthy method. First, consider your industry, as some will require more security than others.
Tokenization
Tokenization is the process of restoring fragile data with non-sensitive options. This will aid in the reduction of potential breach warnings.
Data security should be the most important aspect of your business because it can have an impact on your reputation. Customers will have a difficult time trusting or believing your company if you have a violation.
Saving Time
If you must use manual accounting, entering the data can take several minutes. You will not have to wait if you work with this payment system.
You’ll appreciate how it’s entered into your ERP system without any extra effort on your part. This allows you to save time, concentrate on your business, and assist your customers.
Some systems even allow you to set up recurring payments. To bill your customers, there may be scheduling features that are directly linked to payment data.
Error Reduction
Manual accounting takes more time and exposes you to more errors. When you discover these errors, you must stop what you’re doing to fix them. You’ll also have to keep an eye out for them for hours every day.
If you make a serious mistake, your reputation may suffer. Any deterioration in reputation may result in fewer sales overall. If you misplace paper records, you may not be able to recover them. Data may be mistyped or entered incorrectly. Because it is automatically entered, the possibility of an error is less than zero.
Improves Cash Flow
While credit and debit card processing can have a significant impact on your cash flow, integrated systems do not. Because you can process your payment correctly, you can avoid fees.
Receive real-time payment updates and experience less overall lag. You’ll also save money on declines thanks to data development.
They can look for a better way to complete the transaction. A good payment processor will also help you cut costs and increase profits.
Data Analysis
Learn vital information about each customer’s transactions. A payment getaway integration process allows you to navigate your income using data points.
You’ll be able to see the most popular payment method among your customers. Recognize and comprehend the data that comes in. This gives you control over how well your company executes.
Making the First Steps Towards an Integrated Payment System
First, decide whether you want flat-rate pricing or another payment option. As a payment gateway, look for a PCI-compliant system.
Examine the similarities and determine whether it is compatible with your CRM system, accounting or ERP software, or online shopping cart.
If you have questions, consider whether their customer service is helpful. Check to see if there are any early termination fees if you are leaving soon.
For added data security, some may provide tokenization and encryption.
Find a payments provider who prioritizes customer service, provides security, allows you to integrate various processes, and can assist you in meeting your goals.
How to Select the Best Integrated Payment Processing Solution for Your Business
After reviewing this guide on what integrated payment processing is and how it can help your business, you should have a good idea if it’s right for you. Most businesses, from grocery stores to eCommerce, can benefit. Are you interested in getting started? Check out our low-cost software and get in touch with us today to get started! We will assist you with the payment gateway integration process.