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Table of Contents

Lead Story

Wising up about smart phone security

News

Industry Update

Google introduces mobile wallet, PayPal sues

Tester proposes cutting debit fee study time

Feds move to halt VeriFone purchase of Hypercom

Trade Association News

Features

GS Advisory Board:
Views on regulation and registration - Part 2

Selling Prepaid

Prepaid in brief

Florida investigates prepaid card industry

Is the hybrid card an asset builder?

Views

A slice of ETA 2011

Brandes Elitch
CrossCheck Inc.

Education

Street SmartsSM:
Become the go-to expert on merchant services

Bill Pirtle
MPCT Publishing Co.

How to use email marketing to boost leads

Peggy Bekavac Olson
Strategic Marketing

Oh, what the right mentor could do for you

Vicki M. Daughdrill
Small Business Resources LLC

Acquiring merchants - at what cost?

Jeffrey I. Shavitz
Charge Card Systems Inc.

A view from abroad

Donna Sesto Neary
Payvision

Company Profile

Kahuna ATM Solutions

New Products

A payment gateway plug-in for QuickBooks

SyncPay
Network Merchants Inc.

Inspiration

Retrain your brain

Departments

Forum

Resource Guide

Datebook

A Bigger Thing

The Green Sheet Online Edition

June 13, 2011  •  Issue 11:06:01

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New Products

A payment gateway plug-in for QuickBooks

Product: SyncPay

Lack of connectivity between payment gateways and Intuit Inc.'s QuickBooks accounting software often means more work for merchants and greater potential for errors. To resolve these issues, e-commerce payment gateway developer Network Merchants Inc. built SyncPay, a payment gateway plug-in that enables merchants to pay invoices, generate sales receipts, process batch transactions and view batch reports without leaving QuickBooks.

"It was all done in-house," said Nicholas Cucci, NMI Director of Marketing. "The merchants and ISOs were requesting a QuickBooks plug-in for the payment gateway. It streamlines the process, so they are able to sync up everything to process transactions, and everything goes right to the gateway. ...We were trying to go for the same look and feel, so it's consistent and you never feel like you're leaving QuickBooks."

Synchronizes payments with accounting system

Cucci said that without SyncPay, merchants running transactions through a gateway or virtual terminal have to manually verify that invoices have been paid; in contrast, SyncPay automatically creates a payment record linked to invoices paid, and it marks invoices as paid within QuickBooks. Nick Starai, Director of Product Development at NMI, added, "SyncPay eliminates double entry by combining the payment and accounting processes into one step."

According to Cucci, many merchants, both large and small, run their businesses strictly from within QuickBooks. "With SyncPay you're definitely able to do that," he said. "You can actually apply to three different payment methods: you can apply to a specific invoice, you can apply to a customer's open invoice and you can also create a new sales receipt per transaction." When a merchant creates a new sales receipt within SyncPay, the program generates a new sales record.

Customer Vault enhances PCI compliance

Merchants can also add or update an NMI Customer Vault record, which records the identification number from each transaction along with the corresponding field inside QuickBooks. Cucci said that when running subsequent transactions, a new box opens that reads, "You have previously billed this client with a credit card or ACH. Check this box to use the information on file to bill this client." He added that once you make a payment to a certain client, "there will be a window that pops up; it's got token ID."

Using the Customer Vault, merchants can transmit payment information for remote storage in the company's Level 1 PCI-certified data facility. Once a customer record has been securely transmitted to the Customer Vault, the merchant can initiate transactions remotely without having to access credit card or electronic check information directly.

"Merchants can use our standard services in conjunction with the Customer Vault to process transactions without transmitting any payment information through their web application," Starai said. "This eliminates the burden of dealing with PCI compliancy."

The SyncPay plug-in reportedly supports end-to-end encryption for transactions swiped at a secure, integrated card reader capable of encrypting transaction data. "You can also key in transactions, or we have an approved encrypted swipe that you can use to get card-present rates," Cucci said.

SyncPay integrates with three of Intuit's most popular professional accounting software modules: QuickBooks Pro, QuickBooks Premier and QuickBooks Enterprise. NMI charges an ongoing monthly fee for the service, and the program is available to merchant level salespeople for resale and white-labeling.

Network Merchants Inc.
800-617-4850
www.nmi.com

Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.

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Spotlight Innovators:

USAePay | Impact Paysystems | Electronic Merchant Systems | Inovio