The Green Sheet Online Edition
July 25, 2011 • Issue 11:07:02
A processor-agnostic payment gateway
When PayCommerce Inc. received an OnDemand Top 100 global award in 2010 for its pioneering efforts in cloud-based, enterprise software technology, the company was inspired to advance further. To that end, PayCommerce recently launched a processor-agnostic gateway platform that reportedly permits ISOs to deliver cloud-based, integrated payment services to merchants without them having to switch processors.
The Payment Card Industry (PCI) Data Security Standard (DSS) Level 1-validated payment platform provides a single point of integration for customer billing and payment activity, access to multiple processors and payment types, fraud management, Level 3 data and mobile payment solutions. The platform is suitable for large-scale operations as well as small and midsize businesses (SMBs).
"I believe cloud-based processing is the next step in the evolution of payment gateways, because there is actually no physical gateway," said Dave Holman, Vice President of Channel Sales and Business Development for PayCommerce. "It's a virtual gateway with PCI DSS Level 1 compliance. But we are also ahead of the game in tokenization and masking, which is something that's going to come down the road."
Finding the right zone
For large businesses that already use enterprise resource planning systems, Holman said, "We can actually log in and integrate with their ERP [enterprise resource planning] system, such as a MAS 90 or an AS400 or something of that nature, to allow them to do all kinds of payments from an e-billing for invoicing with a click-to-pay function. We can integrate to mobile solutions. We have our own solution, which is proprietary to us."
Holman added that PayCommerce can assist larger companies with Level 3 processing through its invoicing system, which captures all requisite data and qualifies them for Level 3. This can mean "big savings for these large customers," he said. "But it's also available for anybody who needs it."
Holman also pointed out that PayCommerce can help clients manage online relationships. "Right now a lot of ISOs and processors may have their own relationship with a gift card company, a mobile company, a gateway for the Internet or card-not-present, and they all require separate upfront fees," he said. "They all require separate payment fees, per item fees, and they all have basically separate logins. What we can do is incorporate all those under one unique login for that particular ISO or merchant, and they can go from there."
The gateway offers electronic invoicing with a "pay now" feature, automated clearing house (ACH) payments, mobile payments, domestic and international payment settlements, and card-present and card-not-present credit and debit card processing. The gateway's dashboard and reporting features provides real-time payables and receivables data. In addition, PayCommerce is aligned with The Western Union Co. and MoneyGram International for money transfers, Holman noted.
PayCommerce offers ISOs both basic and advanced packages for a monthly fee Holman characterized as minimal. The basic package includes credit card and ACH processing platforms, online invoicing with a recurring option, reporting and email verifications. "A lot of big businesses have an aging report past 60 days," Holman said. "The click-to-pay function allows them to send out an invoice and say, 'Hey, click-to-pay for this so we can free up future deliveries.'"
The advanced package also features outbound credit and debit payments, additional reporting functions, multi-user capabilities and PayCommerce's proprietary mobile solution. PayCommerce's cloud-based SMB solution can be integrated with existing accounting software. And because it's modular, it can be scaled to fit various vertical segments, including subscription-based services, Holman noted. PayCommerce is seeking partnerships with ISOs through its reseller program.
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