NetSuite is a cloud-based software suite that provides businesses with a range of tools for managing their financials, operations, and customer relations. One of the features of NetSuite is its credit card processing capability, which allows businesses to accept and process credit card payments from customers in a secure and efficient manner.
To use NetSuite credit card processing feature, you’ll need to set up a merchant account with a payment gateway provider. A payment gateway is a service that securely processes credit card transactions on behalf of a merchant. Once you’ve set up your merchant account and payment gateway, you can configure NetSuite to use them for processing credit card payments.
Here are the steps for setting up credit card processing in NetSuite:
- Choose a payment gateway provider and sign up for a merchant account. Some popular options for payment gateway providers include Authorize.net, Stripe, and PayPal.
- Set up your payment gateway account and obtain the necessary credentials, such as your API keys and account ID.
- In NetSuite, go to Setup > Company > Enable Features. Scroll down to the “SuiteCommerce Advanced” section and select the “Credit Card” checkbox.
- Go to Setup > Company > Credit Card Gateways. Click “New” and select the payment gateway provider you are using. Enter the necessary credentials and any other required information.
- To accept credit card payments on your website, you’ll need to install the payment gateway’s integration script on your website. This script enables your website to securely transmit credit card information to the payment gateway for processing.
- In NetSuite, go to Setup > Website > Web Site Setup. Scroll down to the “Payment Methods” section and select the “Credit Card” checkbox. Enter the necessary information for the payment gateway you are using.
NetSuite Payment Processing Features
NetSuite provides a range of payment processing features to help businesses accept and process various types of payments from customers. Here are some of the payment processing features available in NetSuite:
- Credit card processing: As mentioned earlier, NetSuite allows businesses to accept and process credit card payments from customers. This feature can be configured to work with a variety of payment gateway providers, such as Authorize.net, Stripe, and PayPal.
- ACH/eCheck processing: NetSuite allows businesses to accept and process ACH (Automated Clearing House) payments, also known as eChecks. This feature allows businesses to accept electronic bank transfers as a form of payment.
- Multi-currency support: NetSuite supports the ability to process payments in multiple currencies, allowing businesses to accept payments from customers around the world.
- Recurring billing: NetSuite allows businesses to set up recurring billing schedules for customers, enabling automatic billing at regular intervals (e.g. monthly, quarterly, etc.).
- Mobile payments: NetSuite’s mobile app allows businesses to accept payments on the go using their mobile devices. This feature is useful for businesses that need to process payments at trade shows, events, or on-site at customer locations.
- Fraud protection: NetSuite includes built-in fraud protection features to help businesses prevent fraudulent transactions from being processed. This includes tools for detecting and preventing credit card fraud, as well as other types of fraud such as identity theft and phishing attacks.
Benefits of integrating NetSuite with your payments gateway
There are several benefits to integrating NetSuite with your payments gateway:
- Improved efficiency: Integrating NetSuite with your payments gateway allows you to process payments directly within the NetSuite platform, rather than having to switch between multiple systems. This can save time and improve efficiency by streamlining your payment processing workflow.
- Enhanced security: By using NetSuite’s built-in fraud protection features and secure payment gateway integration, you can reduce the risk of fraudulent transactions and protect your business and customers from potential security breaches.
- Increased flexibility: NetSuite’s payment processing features support a wide range of payment types, including credit cards, ACH/eCheck payments, and multi-currency transactions. This allows you to offer your customers a variety of payment options, increasing the flexibility and convenience of your payment process.
- Greater control: Integrating NetSuite with your payments gateway gives you more control over your payment process, including the ability to set up recurring billing schedules and manage your payment gateway settings directly within the NetSuite platform.
Overall, integrating NetSuite with your payments gateway can help improve the efficiency, security, flexibility, and control of your payment process, ultimately leading to a better experience for your business and customers.