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:
New SuiteApp, Solupay® for NetSuite SuitePayments®, Meets the NetSuite SuiteCloud Platform's Development Standards and Documented Best Practices
TWINSBURG, Ohio--(BUSINESS WIRE)--Solupay, a payments technology leader for credit card payment processing, announced today that it has achieved the ‘Built for NetSuite’ status. The new SuiteApp, Solupay® for NetSuite SuitePayments®built using NetSuite’s SuiteCloud Platform, provides enhanced functionality that can reduce fraud, cut payments acceptance expense and eliminate manual processes when accepting payments within NetSuite.
Topics: Payment Gateway Solutions
Interchange is a fee that is assessed by the card networks, including Visa, MasterCard, Amex, Discover and the PIN Debit networks. Interchange is the largest component of a merchant’s processing costs - Interchange fees account for as much as 90% or more of the overall cost of accepting a credit card payment! They are also the most misunderstood aspect of card acceptance since it is a very complex topic.
Many merchants and cardholders continue to believe that Interest Charges cover the cost of issuing a credit card, but only a portion of cardholders carry a balance that is assessed interest charges. For example, most commercial cards, including purchasing cards, are paid in full each month. Interchange fees are the primary way that these “charge” cards earn revenue to cover the cost of carrying the card balance until the account is paid.
As a merchant with web based sales, you want your entire user experience to be handled in a PCI compliant, easy-to-use interface. This can be accomplished two ways: You route the transaction from your shopping cart or checkout page via SSL to a secure gateway, or you use a Hosted Payments Page.
Want to move part of your inventory online? Or perhaps you take phone orders and use a virtual terminal for card not present payments. Bottom line is, you are going to need both a payment gateway and merchant account if you want to sell something online or engage in ecommerce. Understanding their roles will take the mystery out of online payments.