Looking for D635 F&O solution for clients to access online portal to view and pay invoices? One of the key solution differentiators is the integrated payment gateway for credit card processing. Easily overlooked, it’s most impactful on profits. Other than merchant discount, the payment gateway is the single largest influence on the cost of credit card acceptance and chargeback risk.
How can a payment gateway impact costs?
Authorization management. There’s a slew of rules, which are continually changing, regarding what has to happen in order to qualify transactions for the lowest cost possible. Virtually no payment gateways support all of them. For example, authorize.net doesn’t support unscheduled credential on file (stored card on file). Reference https://community.developer.authorize.net/t5/Integration-and-Testing/Visa-Stored-Credentials/td-p/60149. The average cost differential for a Mastercard business card is 1% for a transaction with valid authorization vs invalid (but approved).
Customer disputes and chargebacks. A merchant can only defend disputes if they have proper authorization in #1. Instead of wasting time defending disputes, merchants can prevent them with 3-DSecure 2.0, a global cardholder authentication solution. If the payment gateway supports it, “it wasn’t me, I didn’t authorize it” goes away; liability belongs to the issuer.
Rate Qualification. Items 1 and 2 above both reduce the cost of card acceptance. So does supporting level 3 data. It amazes me how many calls I get from consultants and merchant services salesmen that just want to help their customers qualify business and purchasing cards for level 2 rates. Why wouldn’t you want all clients to qualify for level 3 rates, which are substantially lower for business to business transactions?
Stored credential compliance. This is not just securely tokenizing cardholder data, but complying with a new set of rules established in 2017, which all merchants and acquirers are required to comply with. Payment gateways have no such requirement. They can choose to provide the services to clients or not. The trickiest is unscheduled credential on file, which is what most business to business companies need, unless they have a SaaS billing model. Towards the end of 2019, a few more gateways were offering this, but the list is very small.
Few payment gateways support all four items above.
Call Christine Speedy for D365 F&O invoice portal with compliant payment gateway to maximize profits and improve your customer experience. 954-942-0483, 9-5 ET for all your recurring billing and stored credential payment gateway and virtual terminal needs.
Upgrading to D365 from Microsoft AX? Engaging a payment processing professional can save boatloads of development time while opening up new ways to engage with customers. Additionally, payment gateway selection directly impacts EBITDA project objectives. What three key questions must be asked when choosing a credit card processing solution for your business to business operation?
I’ll save merchants and consultants reading this a lot of time. Ask the 3 questions and then pretty much disregard the answers. You’re unlikely to find anyone who will be able to answer all three questions adequately so on that basis alone, it’s best to contact a subject matter expert like Christine Speedy, here at 3Dmerchant.com.
Does the payment gateway support Unschedule Credential On File? Virtually every business to business operation stores at least a few credit cards for the occasional customer on file need, which is a good thing because if you’re one of those that require customers to call in each time, that’s negative friction impacting cash flow, profits, and satisfaction. What most businesses don’t know is that the rules and technical specifications for storing cards and processing transactions with stored cards changed tremendously in October 2017. Virtually no payment gateway has upgraded to get compliant, leaving businesses exposed to multiple financial penalty risks. Note, this is not just ‘tokenization’, which most gateways support, but rather a specific set of new card acceptance rules. Everyone in the payment ecosystem has some responsibility to make changes for compliance- issuer, acquirer, merchant and payment gateway. No one can ‘automatically’ get merchants compliant with new UCOF rules; if any vendor says they have, call 3Dmerchant to review why it’s not.
If the initial authorization and final settlement amount are not the same, what happens? This is a common scenario for distributors, manufacturing and ecommerce, but if there’s a mismatch, an or an open authorization is not reversed, merchants pay an expensive processing penalty fees. For example, MasterCard Data Rate 1 might appear on merchant statements for interchange rate qualification, which is nearly 100 basis points higher than if settled optimally.
Is there any difference between the type transaction transmitted to the acquirer when a customer self-pays an invoice such as through a payment portal vs when an employee key enters the cardholder data? The answer must be yes. One is submitted as a phone order (MOTO) and one is submitted as an ecommerce order.
BONUS: What’s the process for renewing an expired authorization? Preauthorizations are common in manufacturing and ecommerce. While an expired authorization is usually approved for final settlement within 30 days, there are financial penalties and risk associated with using expired authorizations. Merchants should automate this process as much as possible, removing decisions from employees, which is always fraught with risk.
BONUS 2: Can I process EMV chip transactions with level 3 processing in F&O? Due to October 2019 licensing changes, some merchants may find it more profitable to skip the retail license add-on.
Call Christine Speedy, PCI Council QIR certified, for all your Microsoft Dynamics AX and D365 payment processing needs from ACH to credit cards and more. Get a new or keep existing merchant account at 954-942-0483, 9-5 ET.
Want to accept EMV chip cards with a Verifone MX 915 in your Microsoft Dynamics AX ERP? Ask me about best alternative to Payware for B2B and B2G sales. No Retail MPOS is needed. With our module you’ll be live in no time with all the protections you need to maximize profits, mitigating fraud risk and reducing merchant fees with your existing merchant account.
All transaction types are supported for all your sales channels, and you can accept payments via free text invoices, CRM and more.
The Christine Speedy difference. PCI compliance is important to mitigate data breach risk, but equally important is compliance with complicated card network rules. Have you read any of the 1,000+ pages of Visa Rules? Or 300+ Mastercard transaction processing rules? Have any of the people you rely on? I’ve spent countless hours educating myself on them and learning about the nuances that impact your profit and risk. Technology directly impacts compliance. It doesn’t matter how big or how old a company is; the reality is most players in the payments industry fall behind with every new rule that comes out, even though these rules are usually announced years in advance so that they can prepare. Call 954-942-0483, 9-5 ET for expert advice about all things payments for Microsoft Dynamics AX and D365.
Microsoft Dynamics AX and D365 users need a more customized invoice and sales receipt subject and body than they have with their current solution. The CenPOS F&O accounts receivable module includes the 3 most common requests users ask for.
Create a custom subject and automatically insert the invoice number. For example, Sales Invoice # 231255.
Create a custom body plus automatically insert subtotal, invoice #, sales tax, discount, total invoice etc and a click to pay link.
Attach a PDF invoice
Invoices can be delivered via multiple methods and customers can pay via ACH, wire, credit card and other payment types directly from the email or text; customers can also login to a portal to view and pay multiple invoices. This increases efficiency for both parties and is proven to reduce DSO Because CenPOS is both the invoicing solution and a PCI Level 1 Service Provider, merchants can eliminate Red Maple Advanced Credit Cards, Billtrust and similar other third party solutions.
The sales receipt works pretty much the same way, with receipts automatically delivered via the customers preferred communication method.
The CenPOS F&O module is quick and easy to implement. All these features and more are available standalone or integrated. Integrators, developers and Dynamics users can contact Christine Speedy at 954-942-0483 for the module.
Call Christine Speedy, CenPOS Global Sales, PCI Council QIR certified, for the CenPOS Dynamics AX and D365 modules to make your business more profitable, efficient and secure. 954-942-0483, 9-5 ET.
CenPOS is an integrated commerce technology platform driving
innovative, omnichannel solutions tailored to meet a merchant’s market
needs. Providing a single point of integration, the CenPOS platform
combines payment, commerce and value-added functionality enabling
merchants to transform their commerce experience, eliminate the need to
manage complex integrations, reduce the burden of accepting payments and
create deeper customer relationships.
Microsoft Dynamics AX credit card processing integrated for maximum profit and maximum security with Validated Point to Point Encryption (vP2PE).
PCI Compliance is a moving target. We help reduce compliance burden with a PCI validated Point to Point encrypted solution. It’s important to note that only non-validated P2PE solutions have experienced data breaches in the last 12-18 months.
Accept credit, debit, ACH, check with guarantee, cash, wire, Paypal and more payment types.
Smart Rate Selector reduces credit card processing fees, including with level 3 processing. Qualifying transactions for the lowest rates is complicated and only with dynamic rules management can merchants automate processes that impact fees.
Flexible processor options. You choose. Whether you want to keep your existing First Data, Chase Paymentech, Worldpay, or any other provider, or make a change, we give you options. And if you change acquirers in the future, it’s non-disruptive to operations, unlike “all-in-one” solutions.
Need to reduce compliance scope for card not present transactions? Our Encrypted Virtual Keypad segregates your hardware from scope.
Compliance with new stored card credential rules is complicated also. We reduce compliance burden with various configurable tools.
Do you have DOPS transactions currently processing credit cards?
You cannot process (authorize, capture, void, refund) any transaction through Dynamics online after Dec 31, even if that transaction occurred prior to Dec 31. After 12/31/2017:
Credit cards linked in AX – Will no longer work for any connector, need to be deleted and re-entered.
Authorization – Will be lost. Either process this through your new solution or work with the payment provider to capture an existing authorization if possible.
Capture – Will not be able to process linked refunds.
Void – Will not be able to void a payment.
Refund – Will not be able to refund a payment.
The above transaction types are very limited. For example, re-authorization, incremental authorization and authorization reversal are common types of transactions in B2B. If not managed correctly, then merchants pay higher fees and risk chargeback by both issuer or customer.
Headquartered in Miami, Florida, CenPOS is reshaping the future of commerce through technology innovation and the secure, flexible and simple solutions this enables. Christine Speedy, CenPOS Global Sales, 954-942-0483 has extensive B2B experience to help any business understand risks and benefits of alternative cloud solutions.