Tokenization is more than just a buzz word when it comes to payment processing. It is a security measure that will drastically reduce the scope of PCI Compliance when it comes to storing cardholder data. But there is still a good amount of confusion surrounding tokenization and why it's important, especially in the world of mobile payments. Here is some information that will help clarify this topic:
Automated Clearing House (ACH) is a popular payment method that your business is probably using already. If your business uses direct deposit to pay employees, then you’re using a form of ACH. However, ACH can also be used to boost sales for your business. To learn how ACH can increase your revenues, sales numbers, and overall efficiency watch our Solupay for NetSuite SuitePayments video.
This fall we saw some major announcements regarding changes in the way future POS credit card transactions were going to be processed. In October, MasterCard announced it would no longer require signatures at point-of-sale transactions in the U.S. and Canada beginning in April 2018. Shortly thereafter, Discover announced similar intentions, requiring no POS signatures, expanding this initiative to not only the U.S. and Canada, but also Mexico and the Caribbean. Not to be left behind, AmEx announced in early December it would also implement this change in April 2018 on a global scale. At this time, VISA is the lone holdout, still requiring signatures at point-of-sale. Odds are the antiquated signature requirement will be dropped by Visa soon considering that it is difficult to prove that the signature was indeed the cardholder’s.
For years, Becker Safety and Supply was accepting credit cards and saw the extra steps and inconveniences of their credit card acceptance program as just a nuance of business. Established in 1999, Becker is a wholesale/ distribution company providing protective clothing and tools for any industry where safety is a concern. Devin Becker quickly became excited by the many advances that Solupay provides with our Built for Oracle + NetSuite payments bundle.
Converting leads into sales is the bottom line of business. Getting a lead to the quoting stage of the sales lifecycle can be challenging enough. Depending on the length of your sales cycle, the process to generate actual cash flow from a hot prospect turned new client can seemingly move along at a snail's pace. Here are 3 secrets to close the deals faster, converting leads and turning quotes to cash for your business:
The formula for improving cash flow is simple: collect account receivables as fast as possible, and slow down your accounts payable without jeopardizing your relationship with suppliers and partners. Knowing that most businesses, and even individual consumers, operate with the same ideology in mind means the challenge to get paid faster may seem insurmountable. Which is why an industry exists to create products that focus on helping businesses get paid faster. When cash flow slows, the likelihood of survival decreases. In fact, the lack of cash is one of the top reasons that small businesses fail.
PayPal continues to evolve and strive to make payment acceptance simple. As the most innovative SaaS based ERP company in the world, NetSuite made the decision to support PayPal natively within their two eCommerce platforms (SiteBuilder and SuiteCommerce Advanced) early. As PayPal has continued to evolve, with Express Checkout and other advanced features, the need for broader support and functionality for PayPal within NetSuite emerged.
Topics: NetSuite SuitePayments
It’s no secret that many consumers have lost trust in financial institutions, especially millennials. This is underscored by the fact that the people in the age bracket of 25-35 years old carrying credit card debt is at its lowest since 1989.A recent survey conducted by Affirm, the financial service brainchild of PayPal co-founder Max Levchin, found that 64% of respondents worry about the final cost of items bought with credit due to a history of deceptive practices in the industry. In fact, more than half also said that the uncertainty of the final price—due to interest and unclear terms—made them enjoy their purchase less, which is never a good thing for a retailer. But is this reason enough for merchants to abandon financing? Absolutely not. It is, however, reason for merchants to look at more modern financing options that appeal not only to the millennial buying power, but to the masses.