Payment Made Simple

October 28, 2014

By: Chris Ciriello, National Sales – Solupay Processing Systems

Let’s face it. Getting PAID is critical to your operations. So it is important to focus on three distinct areas: (1) Is it easy to pay us? If not, how can we make it simple? (2) Cardholder Security and (3) Overall Cost.


More often than not, businesses make it more difficult to receive payments than is necessary with existing payment technology. Fact: Most clients want to pay their bills right away. One way of doing so is through recurring billing systems. Find a virtual terminal solution that securely stores customer data on a secure server hosted by your payment processor. Most systems allow you to store both credit cards and bank account information. Just search by name to pull up the client, enter the dollar amount, and hit Submit.

Another way to provide convenience to your customer is via an online bill payment page (customized with your logo) to accept online bill payments. These forms are easy to setup and typically securely hosted by your payment processor. Now when they receive your statement, they can go to a link and pay by check, credit card or even Bill Me Later. The key here is that you Get Paid quickly and increase cash flow without sending multiple invoices. In both cases, we believe you end up increasing customer retention by offering multiple simplified payment options.


Unfortunately, recent data breaches at major retailers across the country have been well documented. But for every one that is covered in the news, there are dozens or hundreds which are not. Cyber criminals are becoming more sophisticated in their methods to gain access to payment information. Therefore, it is important that merchants take this threat seriously. In addition to following Visa, MasterCard, Discover, and Amex mandated Payment Card Industry (PCI) rules and regulations (and becoming PCI compliant with the assistance from your payment processor), it is possible to achieve a higher level of security through the use of certain processing  solutions. It may be worth your time to investigate Hosted Payment Page and/or Virtual Terminal solutions that store card numbers on outside servers and practice “end to end encryption,” fully tokenizing the card information from beginning to end.

Another layer of protection that merchants can add is Data Breach Insurance. This insurance is self-explanatory and can often provide up to $100K of breach insurance for a reasonable monthly fee.

By ensuring the integrity of your business’ network, having procedures in place to handle payment information, implementing secure processing solutions, and adding data breach insurance, merchants can rest easy knowing they are protecting their business as well as their clientele.


It’s vital when monitoring your processing fees to look at the big picture. The overall, total cost of processing is what really matters. Oftentimes, merchants consider only the rate, but that is a very small piece of the puzzle. A “good” rate doesn’t necessarily mean a good deal. Remember: look at the overall cost.

In addition, become educated through your processor to be able to manage Interchange. Interchange is the core cost levied by Visa, MasterCard, and Discover to process credit cards. It gets paid to the Issuing Banks. Things like processing your B2B transactions with Level III Data and taking advantage of new processing programs with American Express can save you up to 1% on applicable transactions.

Being able to process your payments in the most efficient way possible, and qualify for lower rates with the card associations, may reduce your costs more than any rate reduction from your processor.

Take the time to learn about these important aspects of your payments program and make any adjustments where necessary. This will optimize the process by providing your clients with strong bill pay options, it will help protect your business and your customers against fraudsters, as well as cut costs and add to the bottom line.

For more information please contact:
Joe Musitano – Managing Partner
Solupay Processing Systems
(216) 535-9016 Phone
(216) 820-4444 Fax

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