Best NetSuite Payment Processing Solutions

Payment processing fees can quietly become one of your largest software expenses—especially if you're doing over $20 million in revenue. In this episode, Michael from Anchor Group talks with Caleb Schmitz about payment solutions that integrate seamlessly with NetSuite, including some lesser-known options that could save serious margin.

What to evaluate when choosing a payment solution

Before selecting a payment processor, you need to understand three key areas: your payment channels, your transaction fees, and the payment methods you want to offer.

Channels matter because you might be collecting payments through e-commerce, point of sale, phone orders, or invoices. Not all payment solutions work across every channel. For example, many processors integrate well with NetSuite but don't support SuiteCommerce, or they offer credit card and ACH but not Apple Pay or Google Pay.

Transaction fees add up fast. Most NetSuite integrations cost a few hundred to $500 per month, plus transaction fees. The integration cost is higher than e-commerce because NetSuite has so many transaction types—sales orders, cash sales, invoices, payment records, stored tokens on customer records. That complexity drives the monthly fee.

Traditional solutions: Cybersource, VersaPay, BlueSnap

The most common payment processors in the NetSuite space are Cybersource, VersaPay, and BlueSnap. These are traditional models with standard transaction fee structures.

BlueSnap stands out for cross-compatibility. It works well with BigCommerce, Shopify, NetSuite, and SuiteCommerce, and uses Suite Payments APIs for strong integration. If you need a reliable, well-supported option across multiple platforms, BlueSnap is a solid choice.

PayStand: subscription pricing for B2B

PayStand takes a different approach. Instead of charging a percentage per transaction, they use a monthly subscription model based on transaction volume.

For B2B companies doing high-value invoice payments, this pricing structure can make a significant difference. If you quantify how much you're currently paying in percentage-based transaction fees, you may find that PayStand's ROI case is compelling. The key is that you're paying for volume, not transaction size—which is more favorable when you're processing large B2B invoices.

SensePass: middleware flexibility and rate shopping

SensePass is the most unique option discussed in this episode. It acts as middleware—you integrate once with SensePass, and SensePass connects to multiple payment processors.

This gives you flexibility to offer Apple Pay, Google Pay, Klarna, and other buy-now-pay-later options in addition to credit cards and ACH. It works for both e-commerce checkouts and lightweight point-of-sale scenarios.

The biggest advantage is rate shopping. If you find a payment processor offering better rates, you can swap them out on the SensePass side without redoing your NetSuite integration. This keeps you competitive without rebuilding your tech stack.

SensePass also offers QR code and tap-to-pay options for trade shows, field sales, or small storefronts with limited foot traffic. You don't need a full point-of-sale system—just a simple terminal that connects directly to NetSuite.

Reconciliation matters as much as collection

Payment processing isn't just about collecting money—it's about reconciliation. The payment solution touches sales orders, invoices, payment records, and accounting. If it's not integrated correctly, you're stuck with manual payment entries and reconciliation, which adds up in overhead costs.

Caleb mentioned companies spending half a million dollars a year in transaction fees. For businesses over $20 million in revenue, payment processing fees can exceed what you're paying for your ERP or any other software system. It's one of the largest expenses that often doesn't get critiqued enough during system evaluations.

Bottom line

Payment processing is a strategic decision, not just a technical one. The right solution saves margin, reduces manual work, and gives you flexibility to adapt as your business grows.

Whether you need cross-platform compatibility (BlueSnap), subscription pricing for high-volume B2B (PayStand), or middleware flexibility for rate shopping (SensePass), the key is matching the solution to your channels, transaction structure, and integration needs.

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• Caleb Schmitz, CRO at Anchor Group
• Michael Mueller, eCommerce Account Executive at Anchor Group
• Anchor Group (Company Page)

Podcast Transcript:

Michael (00:00)

Hi everybody. Thank you for joining this episode of the Anchor Group Podcast. On today's episode, we're going to have Caleb walk us through payment solutions that work really well in NetSuite. So if you've been looking for new payment solutions or you've been using the same one for many, many years, maybe it's time to start looking for a new one. So if that resonates with you, stay tuned. This is going to be a good one. Caleb, thanks for joining the podcast today and being willing to share kind of your understanding and expertise about payment solutions. Now, I know you've been in the NetSuite industry for going on eight years, eight years now, right? So you've seen a couple of things. So as we get the ball rolling here on this conversation, Caleb, at a very high level, take a 30,000 foot view, what's a payment solution? And from there, we'll kind of narrow down our conversation to get to some of the more specific payment solutions that work well in NetSuite.

Caleb (01:07)

Around there, yeah. Yeah, when it comes to payments, there's many options and there's many reasons to go with one or a different solution. So I'm going to try and go through all the things that you need to evaluate or think about as you're trying to make a selection in the first place. So the very first reason why you'd be looking at a payment solution is what are the types of payment options that you want to allow for your customers? And this could be for many different ways. It could be if you're a retail shopping and what's that payment look like for your point of sale? What about for orders that you're taking over the phone or for email? And what about the orders that you're invoicing? What are the payment methods on an invoice payment? Are you offering credit card, ACH? Is there convenience fees? What are all these components? And there's a few different models out there for integrations and different payment solutions. A lot of them come in the ballpark of the same transaction fees. And there's also some that don't have their pricing model based on transaction fee percentage. It's just a volume, the number of transactions in general. And that can be more favorable in the B2B space when you're largely doing invoice payments. And there's another component to think about, which is what is the payment solution that I want to use for each of my channels? You might have SuiteCommerce, so you need to make sure that you have a payment solution compatible with SuiteCommerce and there are plenty that are not compatible. So it's very important to consider all the different areas that you want to be collecting payments. That could be one, maybe it's BigCommerce or Shopify. Now, when it comes to those types of solutions, there's a number that have good cross compatibility between the two. For instance, BlueSnap is a good one between BigCommerce and NetSuite and SuiteCommerce. It's a good hybrid of all of those. PayStand has it for the B2B side, a nice kind of hybrid between them. They have their different pros and cons. PayStand is still more on that B2B payment side, even though they have direct-to-consumer payment flows. Still, the pricing model really is geared towards the B2B. Where BlueSnap is going to be really traditional payment solutions. They have a lot of global options for BigCommerce or Shopify and NetSuite strong integrations across the board using Suite Payments APIs for the NetSuite side. You can know if someone is using Suite Payments APIs pretty easily, whether they show on suiteapp.com. There are some politics that are navigated there. So there's other techniques to create a strong integration with NetSuite beyond that. And I'll explain, I've got an example here that I'll show you that I like as an alternative option that helps you get the best rates too. And I know that there's a lot of areas we could take this, so I'll try and put this into like small chunks. So the first piece is we need to understand what are all the channels that you plan to be offering a payment solution for. So if you have an e-commerce, if you have a point of sale, and if you're taking phone calls or paying by invoice. So think about all those different areas. And then from there, that will help guide you to whether you have to use one or multiple payment solutions. Luckily there is a few that cover each one of those categories and pretty much always there'll be a few options that are cross compatible with all three. And I always give people advice whenever they reach out about this topic too, on what I would do in their situation. So that's the first piece. And then the next one is what are your transaction fees? What does the pricing model look like? Most integrations with NetSuite will have a cost for the integration. And it's usually between like a few hundred a month, maybe 500 a month for the cost of the integration. And then there's transaction fees on that too. So there's a component of the integration with NetSuite. And that's going to be the highest cost of the integration because there's so many transaction types. It has to be a pretty big integration to hit everything and it's managed because you've got sales orders, you've got cash sales, you've got the invoice, the payment record against the invoice, you've got adding card and storing tokens directly on the customer record and all these different areas. Whereas like an e-commerce, it's like on the sales order. It's really isolated. That's why a lot of the e-commerce ones like on BigCommerce integration with the payment solution is basically free, if not always free. So it's important to note that with NetSuite specifically, there's a lot more data flows and you should expect some type of monthly costs and then the transaction fee on top of that. So that's another consideration. And then finally, I'd say what are the payment methods being offered? Most solutions only allow for credit card, ACH, and that's about it. Most NetSuite integrations only offer those. So if you have SuiteCommerce or you want to offer something like Apple Pay, Google Pay, there are a couple of integrations that offer it within NetSuite specifically, but not on SuiteCommerce. There is one called SensePass and I've got a little tag here. I'll show you how this works for both point of sale, like a lightweight point of sale for NetSuite. And then also this works really well for offering more payment options on SuiteCommerce and NetSuite beyond your standard credit card and ACH. And this particular solution, which is nice, is they're like a middleware of payment solutions. So you have one integration to SensePass, and then SensePass integrates to the rest of them. And the benefit of this is it's pretty agnostic with the payment solution that you want to use. And that helps you get the most competitive rates for the country or in general helps you rate shop and be more flexible without having to swap out your NetSuite integration. You're just swapping in and out the payment option on SensePass itself. So I'll go deeper into this. It's kind of like my next call out. Is there anything that you can think of that, I know that we've worked a lot on the payment space, anything that jumps out at you, Michael?

Michael (07:46)

No, I just want to echo what you're saying about those three main bullet points. Understanding why the company is trying to reevaluate their payment setup because this has a real impact on revenue and profitability, especially as companies grow, specifically in the B2B space. You can really cut into your margins here. So it's worthwhile re-exploring. So exactly what you're saying, explore your channels, your transaction fees, and make sure you have a good plan for payment methods that people can actually purchase the easiest way possible through your website or however whatever channel they're purchasing through. But I know SensePass is intriguing just because of how much flexibility it can offer merchants to be able to essentially protect some of their margin a little bit better. So I think what you're about to explain is very valuable.

Caleb (08:28)

It's different. It's unique. Yeah, there's two, kind of the traditional payment solutions that I typically see in the NetSuite space would be Cybersource, VersaPay, and BlueSnap are probably like, there's a couple others too, it's not the only ones, but those will be your most traditional forms and models. And what I'd say, there's a couple that stand out as more unique, PayStand is one of them, specifically for the B2B payments, because they don't charge on, it's more of like a monthly subscription. And if you actually quantify how much you pay in transaction fees, I suspect if you can quantify that and have a good ROI case, that you'll be able to get your number within the ROI that makes sense if you're in the B2B payment space with PayStand. So that's particularly unique for that space, so that you're not paying on the percentage of the transaction as much as just your volume as a whole. So different pricing. Then SensePass also stands out as unique because they are able to access any payment solution. So you can even connect like a VersaPay to SensePass as your payment for credit cards, for instance. But then you can have one interface that allows you to pay by card, pay by Google, pay by Apple, Klarna, all the buy now pay later solutions. And that's what's pretty unique in the checkout experience on SuiteCommerce. Once you get out to the checkout page, you enable which payment solutions you want to offer there. And then it lets them check out with that experience, as well as the additional credit card or ACH. So those are all options. And should you decide that, hey, I've got a new payment processor for credit card that is giving me even better rates, it's very easy to swap them out rather than having to redo all your integrations with NetSuite. So that's probably what I'd say is one of the nice benefits is you can constantly look for rate shopping and figuring out what is the best for the credit card approach.

Michael (10:37)

Yeah, and that's where the real value comes in. When you do the math, you realize those rates make a big difference, especially over the years, whereas the size of your orders grows and increases. That makes a notable difference at the end of the year when you look back on your revenue and profitability over the year.

Caleb (10:55)

It's particularly noticeable when you're doing just credit card transactions as a whole for your customers. If you've got a lot of phone call orders or repeat orders using a credit card on file, those are going to use more traditional just here's my credit card, here's my ACH. Those are pretty straightforward. Usually people don't phone call in and use a Google Pay or something. Those particular options are going to be used on the e-commerce experience or in the retail. So I've explained the e-commerce and how that works with SensePass, where most people have experienced a similar experience where they see the Google Pay option and they check out. That's going to be more common for direct-to-consumer or a B2B customer who checks out like a B2C customer. You could be a business using your business card kind of as a B2C experience. The other part is NetSuite doesn't have a great point of sale. There's a couple of point of sale solutions that tie into NetSuite. There's also companies I come across where they just have like a small storefront with limited foot traffic or kind of they don't need a full cash drawer. And although SensePass can work with a lot of options like that, this is another alternative that I like to position as an option. So we've got these tap to pay little cards and I'll try to share this if I can. This has a QR code and a tap to pay. There's just an adhesive on the back. This can be effectively your terminal. You can have a terminal associated to these two and that connect to NetSuite. It could be as simple as this is the order and it basically publishes that amount and that transaction to a URL tied to this so that when the user scans it, the or tap to pay or scan. I'll just do this real quick myself. And it means that that unique order from that register gets pushed to the unique URL connected to this. And that way you could have multiple registers. And then you get your standard user interface. Let's see if I can get it. You get your standard user interface here, which at the bottom. Okay, sorry, I'll restate this. You get your standard user interface, it's a little inverse, but you can see the amounts and all the Google Pay options that your user can make that transaction, and it can create the payments and associate and reconcile it all within NetSuite. So this is a good point of sale type of option when you don't need crazy high foot traffic, but at least gives you a way to capture those point of sale transactions within NetSuite in a very easy to set up manner.

Michael (13:45)

Yeah, and I see that. I see that specifically being very valuable for companies that maybe attend trade shows where they do end up selling some sort of merchandise or some swag at that trade show. Also for businesses that just maybe have salespeople or that sort of thing that need to spread the word about product. I can see that being very, very friendly towards those sort of scenarios.

Caleb (14:13)

Trade show was a great example because you don't need a full point of sale solution. SensePass is fully integrated into NetSuite already. It's your payment solution. You can bring up the order, create the order and have them pay right there and all the transactions all flow into NetSuite right away. And it's a good option. So I've been a big fan of it. It uses a different, uses standard APIs typically, which is just fine. It's just a different technique to integrate. But it is probably the most unique of the payment solutions I've seen in this space other than PayStand. But sometimes people just like to go the traditional route too, and that's okay. So I've liked them all.

Michael (14:58)

Caleb, question for you on that SensePass QR code example. I've spoken with companies and they have kind of external sales teams or we'll call them teams of account managers that will go and visit all the accounts that sell their product, think wholesale distribution or some sort of manufacturing company. And their samples cost money where you might be visiting a showroom that wants to display your wood product, your wood finish, your whatever, building material. And at times those samples cost money. Could you theoretically use that as a way to transact on those samples that when you're in person, boots on the ground, you can essentially deliver and sell the new most updated samples to that business to have in their showroom? Could that theoretically work in that situation?

Caleb (15:54)

I mean, if you're selling the item, if the sample is going to be an actual sold item that someone is paying for, then yes, it could be totally that example. If the sample is a free item, you just do like an inventory adjustment based on what was actually consumed to true up your books or some type of a journal entry because you're not actually, someone's not paying for it necessarily, it's just a cost. But if they are paying for that sample at the show, then it would be a great option for that. Any product that they're paying for, whether it's a sample or an actual product that happens to be at the show.

Michael (16:23)

Yeah, and I know most of the time samples for companies are free, but sometimes when you get into building material and that sort of thing, there is a cost associated with them for samples and that sort of thing. So yeah, I run into a few companies. I'd imagine if you're a company in that situation, it can be kind of hard to figure out a solution to that. And so SensePass could potentially be an option.

Caleb (16:49)

Yeah. Yeah, these are all good payment options. The payment space can be complicated, but it's important to make a good decision there. So oftentimes people will reach out to us to ask for advice or even on our 30 minute fix sessions. Those are really great too, to be able to just get some advice and point them in the right direction. I usually ask similar questions on those bullet points that I mentioned to try and get my hands wrapped around what they're trying to achieve as a client of ours. And then I'll give them some ideas on why that comes to mind as a good solution for them and why not the other ones. It can really save a lot of people's research time just by having a 10 minute conversation. And it's just something I'm happy to do. Even if they don't become a client, I'm happy to help steer people in the right direction because payment space is oddly complicated the more that you understand it.

Michael (17:44)

Yeah, oddly complicated is a good way to put it. And the power of a 10 minute conversation. At times, if the stars align, this can be powerful.

Caleb (17:49)

That's right. Yeah. And when it comes to NetSuite, it's not just collecting the payment, it's the reconciliation after it. So end to end, the payment solution touches so many parts of your business processes and making sure that it's integrated correctly into NetSuite so that it impacts everything on accounting correctly is an important thing. Otherwise, you're dealing with manual payment entries and reconciliation and that really adds up in costs and overhead costs having your accounting team members deal with it. So it is an important decision. And beyond, I know people that are spending half a million a year in transaction fees. This is not a small budget item. It is one of your largest. If you're over 20 million in revenue, I wouldn't be surprised if your transaction fees have exceeded your costs that you're paying on any ERP or any software system. So it can be one of the biggest expenses that is often not critiqued enough when they're evaluating systems.

Michael (18:51)

Definitely something established businesses and growing businesses need to keep an eye on. And the beginning of the year is a perfect time to do it. Hey, Caleb, thank you for walking us through these payment solutions on today's episode. I think it can be very helpful for a lot of different companies. Feel free to reach out to us at AnchorGroup.Tech. We'd love to have a conversation with you about your specific scenario and how you might be able to leverage your payment options to help you out the most. And by all means, we look forward to chatting with you next time on the Anchor Group podcast.

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