All About NetSuite Credit Card Processing with SuitePayments

NetSuite’s Cloud ERP system includes not only functions to run an e-commerce store, track inventory, run reports, or otherwise manage a business, it also offers credit card processing, which is something most businesses need.

NetSuite offers many ways to collect credit card payments including POS, online, or mobile sales. The all-in-one system makes it a seamless process for businesses to not only manage their business’s back end, but sales too at a much lower cost and with less time spent.

Who is a Part of NetSuite’s SuitePayments?

NetSuite has what many call a ‘club’ because payment gateways and processors must get approved to be a part of NetSuite’s SuitePayments – not every company can be a part of it.

Once a company is a part of the ‘club’ though, they are fully integrated into the NetSuite program, which means seamless credit card processing and running your business’s backend.

It’s important to consider only those gateways within the NetSuite approved companies because any unsupported company or unauthorized integration might work for a while, but any updates or changes to NetSuite could render your integrated credit card processing useless unless you work with one of the many companies they’ve approved. Host Merchant Services is the best choice for NetSuite integrated payments, through the CyberSource gateway.

How to Get NetSuite’s Credit Card Processing

To use NetSuite’s credit card processing function, you’ll need a merchant account with any of the following companies:

• WorldPay

• Merchant e-Solutions

• CyberSource (preferred method through Host Merchant Services)

These companies partner with NetSuite to process the payments, settle transactions, and report them seamlessly in the NetSuite products.

The entire process is seamless from start to finish. The system captures the credit card information from the customer, creates a customer record, requests the authorization, and charges the card upon order fulfilment. Once the transaction goes through, NetSuite updates all records in real time including inventory and sales.

The entire process safeguards itself since the order process doesn’t move to fulfillment until the system has approval for the transaction. 

NetSuite, through CyberSource and Host Merchant Services, accepts most major credit cards including Visa, Mastercard, Discover, American Express, Diners Club, and Maestro Cards. 

Features

Decrease Fraud Risks

The risk of fraud is high in card not present transactions, but SuitePayments provides features that help reduce the risk.

Rather than pushing all payments through and risking a high number of chargebacks, NetSuite has a feature that holds payments on orders that have issues. You’ll find the orders on your ‘Manage Payment Holds’ page. You can then manually use the Address Verification System and Card Security Code to ensure the payment is legit. 

It also offers the option to add Verified by Visa and MasterCard SecureCode to take your authentication practices a step further.

Store Customer’s Credit Card Information Securely

PCI compliance is crucial if you’re going to accept credit card payments and SuitePayments incorporates it into their system. While you can store customer’s card information, you’ll store it on an encrypted system that’s secure and compliant. Only authorized users can access the numbers, which means even order fullers or anyone else accessing the order can only see the card’s last 4 digits.

Point-of-Sale Option

Even if you operate mostly online, SuitePayments offers a POS for in-person payments too. Your customers can swipe their card in the machine and the information will sync with your online data, keeping everything in one place. 

Faster Fraud Management Techniques

No one likes to have their order held up because of potential fraud but protecting yourself from fraudulent activity is vital. NetSuite has a robust system that screens every order quickly, so you know if it’s a good order or not. You don’t have to waste your time on manual reviews, but you can set up your own parameters to ensure your business is kept safe.

Payment Consolidation

If you offer many ways to pay, such as invoicing, credit cards on your site, and subscriptions, it can get confusing to manage all the payments. You might lose track and even lose sales because of it. With NetSuite, all payments are entered into one system and updated in real time. You’ll have access to up-to-the-minute information including inventory and updated customer records. This eliminates the need for excessive programs and equipment, saving you money and time.

Get Paid Faster

When you can offer a multitude of payment options to your customers, you don’t have to worry about negotiating payment terms or working out payment arrangements. With NetSuite, you can accept almost any payment including credit cards, debit cards, ACH, bank payments and more.

You’ll be better able to capture the sales when they’re happening rather than dealing with cart abandonment and losing sales.

Decrease Declined Payments

When you work with all of your systems in one program, you’re less likely to deal with declined payments, which are a common problem of ecommerce business owners. When payments get declined, even if the payment is good, it can cause you to lose subscribers and clients because of the hassle.

With everyone in one seamless system, it’s a lot easier to keep your clientele and build it, especially when you can capture their payment the first time around, not giving them time to second guess their decision or have cart abandonment.

Final Thoughts

NetSuite SuitePayments is a great way to put all of your business processes into one system. Why deal with multiple systems, risk errors, and losing customers when you can have it all together?

When you work with a credit card processor like Host Merchant Services, already experienced with NetSuite integrated payments, you have a much better chance at completing the process with ease and increasing your chances of repeat customers or subscribers.

You can get paid faster, reduce the risk of fraud, have a point-of-sale option, and even store your customer’s card information securely to easily charge subscriptions and other recurring charges.

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Categories: NetSuite Payments

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