As a merchant, you require a complete payment processing solution that takes care of the cycle that starts with order and ends at cash. NetSuite can help with this. To use it you should know the best merchant accounts for NetSuite integration.
NetSuite Payment Processing: What is it?
To manage the complete order-to-cash cycle, NetSuite’s SuitePayments payment processing solution integrates payment processing services with the NetSuite platform. Online, over the phone, or in person, accept credit card payments while maintaining PCI-compliant data protection.
Or, provide clients with the choice to pay using PayPal, Apple Pay, or another electronic system in place of that. The ability to accept payments whichever best suits your company is offered by NetSuite SuitePayments.
Including business accounting, ERP, CRM, and e-commerce software to help you manage your company using a single integrated system, NetSuite is the top integrated cloud business software package owned by Oracle. It is a collection of programs that manage daily business operations for all of your departments.
There are numerous methods to combine NetSuite with other industry-leading applications.
By integrating NetSuite with other technologies your company already uses for marketing automation, sales processing, and other purposes, it is possible to take advantage of the full potential of NetSuite.
You must consider the ecosystem in which your company or organization operates, including all the parties and activities your business interacts with on a daily, weekly, and monthly basis, to determine which connectors you need for NetSuite.
We are always discussing the integration of your primary company system, NetSuite ERP, with all of your other tools and third-party applications, like Shopify for your online store, HubSpot for marketing, and Salesforce as your CRM.
Processing payments involves:
- Accounts Payable makes invoice payments
- Account settlements for credit cards
- settlements for accounts receivable against bank accounts
- transactions between banks
Money Capture Supported by NetSuite:
- Transfer of Funds Online (EFT).
- Processing of credit cards for online store and sales orders.
- alternative payment options for orders placed on websites.
- Online store orders with PayPal Express.
- Electronic transactions
Fund Disbursement Supported by NetSuite:
- Vendor payments using ACH.
- Payroll direct deposit.
- Electronic transactions.
How much does processing payments with NetSuite cost?
Many businesses big and small, from early-stage startups to those growing fast, have switched to NetSuite. Looking for a more competitive approach to operate your business but concerned about the cost?
Users pay a yearly license cost to use NetSuite. The three preliminary parts of your license are the core platform, the number of users, and the optional features. For the first set-up, there is additionally a one-time implementation cost. The benefit of cloud software is that you can activate new modules quickly and add users as your business grows.
The NetSuite platform license includes SuitePayments interfaces but not the payment services themselves. Any payment services must be directly contracted for by users with the provider.
Features of NetSuite Payment Processing:
- Enhance Cash Flow: Charge a credit card instead of waiting for a cheque to reduce the number of days of sales outstanding (DSO).
- One solution only: Manage payments from a single solution for invoicing, phone orders, online sales, subscriptions, and point-of-sale transactions.
- Data Protection: Your costs connected with PCI compliance are reduced because NetSuite is a registered Payment Card Industry Data Security Standard (PCI DSS) compliant service provider.
The NetSuite Integrations that you might want to set up right away:
Shopify NetSuite Integration
Shopify is a merchant account provider with operations dating back to early 2006. The industry’s transition to flat-rate and subscription-style pricing has been spearheaded by it. You may automate changes to orders, returns, and refunds by integrating Shopify into the NetSuite architecture.
You can even sync the Shopify order transaction numbers with your back office. The automation of refunds and returns becomes a fluid procedure when NetSuite is running in the background. It examines the transaction numbers connected to Shopify orders and adheres to specified criteria to minimize delays for customers.
When processing and managing customer orders using the Shopify integration, Shopify serves as the front end while NetSuite serves as the back end. Customers of Shopify have the option to place orders directly on the marketplace website and have them delivered to the platform’s management system architecture. Because Shopify and
NetSuite ERP are integrated, it is possible to access customer information, including shipping addresses, using NetSuite ERP for operation, shipping, and delivery.
The networking of processes, the interchange of information, and the development of system and data transparency are essential issues with non-integrated systems that integration with Shopify and NetSuite integration connectors addresses. A developer’s worst nightmare may come true with such intricate interfaces between NetSuite and Shopify: processes with hundreds of failed processes and hundreds of test protocols necessary to find issues.
Main Characteristics:
- Serving practically every demand from small to large
- the best all-in-one e-commerce platform
- a large selection of plug-ins for practically any business necessity
Host Merchant Services
The majority of common business kinds as well as some high-risk merchants are ideally suited for Host Merchant Services, a merchant account provider with headquarters in Newark, Delaware. The host provides point-of-sale solutions, online marketing tools, an online payment gateway, and virtual terminal, mobile credit card processing, gift and loyalty programs, merchant cash advances, and offshore merchant accounts.
It also has specific packages for the restaurant, salon, professional service, and contractor sectors. For new merchants who need them, Host Merchant Services offers a free website and email address in addition to supporting NetSuite integration.
Main Characteristics:
- most industries get approval quickly
- No contract fees or termination costs
- Excellent client service
Boomi NetSuite Integration
As a corporation, you want your departments to work together and communicate well to ensure a smooth information flow. When it comes to building integrations to NetSuite as your primary platform,
Boomi is one of the greatest connector tools. NetSuite can be connected to all of your other business operations and data using Boomi, a powerful cloud data connection tool. It aids in data generation, restructuring, and exchange across two or more business applications.
Main Characteristics:
- Automated workstreams for maximum productivity and effectiveness
- improved cross-team cooperation and less complexity
- Total data synchronization and updates for accurate progress tracking
- quicker decision-supporting information
- little revamping of current technologies
NetSuite Salesforce integration
The NetSuite Salesforce integration enables users to combine the features of the world’s top ERP platform and the leading CRM, assisting organizations in streamlining and carrying out sales activities in an orderly way. You can conduct significant financial transactions on one platform utilizing NetSuite Salesforce connection services, and you can use your CRM data to gain insightful financial information.
Main Characteristics:
- Both cross-selling and up-selling
- Using CRM and ERP Together to Improve Sales
- Automate the conversion of sales leads into NetSuite accounting and vice versa
- Legitimate, error-free data updates
- centralized management of transactions in e-commerce
- enhanced cash flow optimization
- a full 360-degree perspective of client information
Square Payments
San Francisco, California-based Square is a merchant account provider that was established in 2009. The business provides a range of services, including Square for Retail and Square Online Store, that are tailored for particular uses. The payment gateway for Square is already integrated with NetSuite. Square distinguishes itself from the majority of payment processors by providing its services for a single fixed transaction cost.
Main Characteristics:
- Signup is quick and simple.
- For the majority of firms, instant approval
- There are no monthly fees and the pricing is straightforward.
HubSpot NetSuite Integration
The next crucial NetSuite Integration on everyone’s list is the HubSpot Integration. HubSpot is a CRM and marketing solution that lets users manage and follow campaigns, prospects, and D2C data. HubSpot offers robust full-funnel analytics data that can shed light on the factors contributing to customer and revenue development.
Its services, which are centered on sales and marketing technologies, assist a business in reorienting its marketing initiatives toward inbound marketing. STREAMS helps you automate your marketing processes by integrating HubSpot with NetSuite and other enterprise software.
Main Characteristics:
- Users of NetSuite CRM+ get access to HubSpot’s Lead Intelligence, which enables sales teams to better qualify and interact with leads.
- Using HubSpot’s social media capabilities, you can market to new customers and keep an eye on your brand.
- Online sales from NetSuite E-commerce are reported back to HubSpot, which assists Marketing in identifying the campaigns that drive traffic, cart abandonment, and sales.
- The content management system (CMS), blogging, search engine optimization (SEO), and social networking tools from HubSpot aid in increasing traffic to your NetSuite E-commerce website.
- The landing pages, lead nurturing, and email marketing solutions from HubSpot aid in increasing the conversion of traffic into leads and sales.
Workday NetSuite Integration
Human Capital Management, Enterprise Resource Planning, and Finance Management are the areas of expertise of Workday, a cloud-based service provider. The pioneer of SaaS-based enterprise solutions for global payroll, human resources, and finance administration is Workday. Workday is chosen by businesses to manage and improve their human resources divisions. Workday provides several integration solutions for NetSuite, including the provided NetSuite Connector, Saved Search Integration, and Custom Cloud package for CCDS Integration.
Main Characteristics:
- Web-query integration with NetSuite Reports
- Control and improve the performance of their human resources
- Integrating NetSuite Reports via web-query and their HCM system with the world’s top cloud ERP solution.
Versapay
Versapay’s Built for NetSuite SuitePayments solution enables you to accept payments directly within NetSuite throughout your e-commerce, point of sale, and accounts receivable channels. With all of your payment processes now in one location, bid farewell to dispersed systems and outdated data.
When you handle payments using Versapay, you can cut your acceptance costs by up to 40%. To help you achieve the best rates possible, it offers Level III data processing and interchange optimization.
Expand the range of payment options you accept, including virtual cards, cheques, Apple Pay, PayPal, and Apple Pay, to boost your revenue. Allow clients to make their payment arrangements. Utilize its adaptable payment gateway, integrations with well-liked shopping carts, and first-rate merchant services to safely handle your online orders from cart to cash. It brings sensitive card data safely into NetSuite from external systems.
For a more secure payment experience, it tokenizes payments made through all channels. To restrict your contacts with sensitive payment data, payments are securely stored outside of the PCI DSS’s purview. Reduce bogus chargebacks without affecting the experience of your clients.
Main Characteristics:
- lower expenses for processing
- Cut back on manual processes
- Boost additional sales
- Rapidly rise to your business and move around.
- Securely process payments
- Cut back on risk and chargebacks
EbizCharge
EbizCharge is a payment gateway created exclusively for NetSuite payment processing. It is provided by Century Business Solutions and is PCI compliant.
With Level 3 pricing, EBizCharge for NetSuite guarantees a cost savings of up to 43% on credit card processing rates. Processing credit and debit cards within NetSuite are made simple for you and your accounting staff by our secure payment solution. Additionally, EBizCharge includes a free online payment system that enables your clients to settle overdue payments from any location.
Main Characteristics:
- Free installation, upgrades, and maintenance
- a single, condensed statement, and a single point of contact
- Options for overnight financing
- A diligent chargeback management group
- access to free and always-available internal customer assistance
- For optimal data protection, use advanced encryption and tokenization technology.
- NetSuite customer payment portal compatibility
- Unlimited batch and transaction history for reporting needs
- powerful search capabilities for creating personalized reports
- the capacity to categorize transactions
- Release of cash right away when providing reimbursements
- being able to easily assign users and control access restrictions
- Android and iOS mobile applications
Cybersource – A Visa Solution
Since 2007, CyberSource has been a certified NetSuite SuitePayments vendor. NetSuite and Cybersource have worked together to offer best-in-class capabilities to companies all over the world.
It ensures that your information is accessible wherever you need it and that the two systems are in sync. There are more alternatives than ever before to safely expand, extend, and modernize your organization thanks to Cybersource’s new SuiteApp for NetSuite SuitePayments. T
o support your daily payment operations, Cybersource offers a comprehensive portfolio of services, including domestic and international acceptance, fraud management, recurring billing, reconciliation, and acquiring merchant account services. This streamlines payment management for NetSuite merchants.
Main Characteristics:
- Capture more revenue by accepting payments in 190+ countries (Including the USA)
- Effectively handle fraud and boost sales conversion
- One platform provides all payment management features.
- Consolidate payments more quickly and easily with thorough reporting
