The Green Sheet Online Edition
May 26, 2008 • Issue 08:05:02
Processing simplified for mom-and-pops
Sometimes small merchants get drowned in the wake of massive, comprehensive technology solutions tailored to large enterprises. Said merchants are not necessarily tech savvy.
More than likely, they don't have Internet technology departments and millions of dollars budgeted to secure their networks and facilitate streamlined processing.
It is the job of ISOs and merchant level salespeople (MLSs) who service small businesses to see that those merchants are set up with processing capabilities designed to meet their specific needs.
Denver-based PaySimple has just released PaySimple 2.0, a Software as a Service (SaaS) online platform that is equipped to deliver efficient, cost-effective processing for small merchants.
While many small merchants' systems are fractured and put together piecemeal, PaySimple 2.0 brings all processing functions under one Web-based platform with the Payment Processing Center. It can serve as a central hub for merchants, where all ingoing and outgoing payments are managed from one source.
Payment collection can be made via automated clearing house (ACH) or credit card. But merchants can also pay vendors through the center on a one-time or recurring basis. Schedules are easily updateable as well, giving merchants the flexibility to set up invoicing however they want.
The solution offers modules for invoicing, Web page development and recurring payments.
The Invoicing Module allows merchants to bill their customers and vendors by e-mail. Invoices are customizable and contain buttons that direct users to secure online payment forms devised for fast, convenient bill pay.
The Webforms Module is designed to help merchants create securely hosted Web pages where online payments can be accepted.
The module for recurring payment gives merchants the ability to set up automated billing schedules to automatically charge customers on a monthly basis or otherwise predetermined schedule.
The module accepts payments by ACH or credit card and gives payors secondary payment methods if first payment attempts fail. The module also automatically sends customizable e-mails before payments are expected, when payments are made and after payments have been received.
In addition, the Upload Center enables merchants to create multiple recurring payment and disbursement schedules, multiple invoices and invoice schedules, multiple one-time transactions, and multiple customer profiles.
Knowing the critical importance of securing cardholder data security, PaySimple endeavors to simplify what is for many merchants a complicated process. PaySimple 2.0 is Payment Card Industry (PCI) Data Security Standard (DSS) compliant. As a function of its SaaS service, PaySimple stores and secures all transactions and customer information, relieving merchants of that significant compliance hurdle.
The solution also functions as a risk management tool equipped with fraud prevention services such as address verification and card verification value 2, as well as check verification for ACH payments. E-mail blocker, Internet protocol address restriction, duplicate detection and multiple credit card submission detection are more PaySimple 2.0 tools designed to help prevent fraudulent use of Web payment forms.
Another way PaySimple 2.0 can mitigate risk is by providing both account level and user level processing permissions and limits, which restricts employees' access to only what is necessary to do their jobs.
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