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Credit and debit cards, digital wallets , ACH transfers , and other digital payments have become the norm. To accept electronic payment methods fast and securely, you need a paymentgateway. Its the bridge between your customers preferred payment methods and business cash flow.
Acumatica allows businesses to accept and process credit cards, debit cards, Automated Clearing House (ACH) payments/eChecks, and other transactions seamlessly by integrating with paymentgateways. Factors like transaction volume, payment speed, and the type of ACH transfer can also influence the overall cost.
Follow a 6-step process to choose the right provider: map your payment needs, shortlist vendors, compare features, request demos, test support, and check scalability. Review factors like fees, contract terms, supported payment methods, and business fit—especially if you’re high-volume, high-risk, or multi-location.
Since the only processing costs other than interchange are flat (the monthly membership and a few cents per transaction), effective rates with Stax are close to interchange and tend to decrease as transactional volume decreases. As with Stax, this isn’t the best solution for extremely low-volume businesses.
Unlike payments facilitated by card networks like Visa or Mastercard, ACHpayments are managed by a body called the National Automated Clearing House Association (NACHA). In Q3 of 2023, the total volume of payouts on ACH networks reached 7.8 This is pretty much similar to the service that PayPal offers.
This is because a customer’s payment information isn’t passed along in plain numbers. This token is transmitted via NFC to your paymentgateway attached to your POS system. The business’ paymentgateway then passes that token off to the payment processor in real time—never handling the customer’s card information at all.
A third-party processor is a provider that allows a business to accept payments without opening its own merchant account. Typically, nonprofits that expect a low volume of transactions may want a third-party processor.
But if you’re a B2B solution, there’s a high likelihood that businesses will be interested in being able to accept customer payments, rather than just sending them a PayPal link or to a generic paymentgateway. How do you add paymentprocessing capabilities to your software?
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