Paystand is a great solution for B2B companies running on SuiteCommerce or SuiteCommerce Advanced. One of the best aspects about Paystand is that it is a payment-as-a-service model. Why would you want this model? Well...it's because, for companies doing a lot of sales (>$5 million per year), there are a lot of feeds associated with payment processors. Paystand offers a subscription model to avoid transaction fees and reduce your overall costs.
Customers have been experiencing great results with the Paystand to NetSuite integration because it makes it easier to automate the way you send out invoices and collect payments on a monthly basis.
Paystand NetSuite ERP Features
It's useful to know the ERP applications of Paystand in NetSuite as you explore some of the functionality for SuiteCommerce too. The most common features used with the Paystand & NetSuite integration are features like:
- Collections Automation
- Instant Cash Application
- Fund-on-file tokenization
- Automatic Reconciliation
- Eliminating Payment Processing Fees
- Payer-Pays-Fees for credit cards
- Enable Autopay
- Schedule payments
- Recurring Billing
- Adding payment links into NetSuite templates
There are many ways to leverage this payment solution in NetSuite, but you really need to check out how it can work inside of SuiteCommerce too. If you don't know about SuiteCommerce yet, you can learn more about it by seeing multiple Anchor Group SuiteCommerce videos.
Paystand SuiteCommerce & SuiteCommerce Advanced Features
So how does Paystand fit into SuiteCommerce? You can allow your customers to checkout with terms by setting the terms on the customer record. When the customer logs into the SuiteCommerce website, they will be shown the option to checkout by "invoicing".
Now your customer will checkout and the sales order gets created inside of NetSuite. Your customer can pay their invoice through their "My Account" portion inside of SuiteCommerce. There is the ability to pay for invoices in this area. This is where Paystand comes into play by allowing you to let the customer pay using Paystand. At this time, your customers can decide which payment method works best for them and you can even allow them to pay with a credit card (but passing any fees to them if they select this option).
See a demo of Paystand inside SuiteCommerce below!
You can see how powerful of a payment tool this can be because of the way it streamlines B2B payments and passes more savings to your organization. If you are a large organization, you don't want to be letting a customer pay a $2,000 or even $40,000 invoice through a credit card! Instead, gently push them to your preferred payment method while still allowing the option for them to pay with a credit card.
What next in your SuiteCommerce journey?
Implementing SuiteCommerce, SuiteCommerce Advanced, or even a payment option like Paystand? Contact Anchor Group SuiteCommerce specialists to help you on your projects!
To help you in your SuiteCommerce Success journey, we'd like to offer you a Free SuiteCommerce Book. This is just one way to show you that we have the heart of a teacher when working with our clients! Click on the image below to fill out your shipping information and we'll ship it out to you shortly.
