We’ve already talked about some of the ins and outs of learning how to find the right payment processor for your business. The business world is changing rapidly and there are always new tools and technology that could help you more than your current payment processing platform.
When it comes to evolving and growing your business in 2022 and beyond, here are some of the top payment processing features your small and medium-sized business needs, and why ReliaFund is the perfect platform for handling all your payment processing needs.
ACH is one of the safest and most effective ways to process payments today. In fact, in its 5-year history, same-day ACH has processed a large number of payments. There are tons of great benefits that can help your accounting staff work through payroll faster and more accurately, keep funds in your bank accounts longer, and keep the cost of fees and penalties down when compared to other payment processing methods.
With ReliaFund and ACH, you can send and receive funds in less time, and in ways that are more cost-effective.
Credit Card Payment Processing
Payment processing preferences vary by age and specific demographics. For example, Millennials and Gen Z would prefer to pay with electronic means – using their smartphones and other online payment methods, whereas older generations still prefer paper-based payment methods like cash and checks.
Credit card processing is one of the most popular payment methods because credit cards are one of the easiest types of payment to apply for (even if it’s not in our best interest). Credit and debit cards are most popular with the largest age demographic in history – Millennials.
With ReliaFund’s all-in-one platform, you can process credit card sales, credit authorizations, credit returns, credit voids, and web and phone payments.
While your younger customers are often shocked that paper checks even exist in 2022, there are tons of reasons why paper and electronic checks are still a viable form of payment processing.
With ReliaFund, you can skip the bank and process your electronic checks from your own devices. These features are fully integrated into our payment processing platform and have lower transaction fees as compared to credit cards. It’s also a lot faster than waiting for a check to arrive in the mail.
Recurring Payment Processing
Autopay is the path forward for many people and businesses trying to make sure they never miss another payment or billing cycle. Online payments can be turned into recurring or monthly billing with a simple customer setup process through ReliaFund. We also use tokenization, which saves credit card information safely and with easy recall.
Integration is another important part of your payment processing methods. It’s easy to overlook outside payment methods when you are running a month’s worth of billing reports from several different sources. ReliaFund has a well-documented API that easily integrates with any application, including the cloud. You can even test your integrations with our built-in sandbox and test accounts.
Security & Storage
Storing client payment information safely and securely is crucial to the integrity of your business. When choosing your payment processing methods and platforms, it’s important to know what advanced security features are available for you and what programs are running in the background to keep your sensitive information safe.
ReliaFund Electronic Payment Services’ team of security experts ensures your customer’s confidential data is safe from potential fraud. We also offer free, automatic product upgrades, as well as tokenization, to securely store your customer account information.
Payment Processing Reports
Another feature you’ll want to have access to is real-time reports and reconciliation. ReliaFund’s platform allows you to monitor activity from origination to deposit to reconciliation from the easy-to-use dashboard. You can review your overall transaction activity or drill down into the details of each payment to ensure your records are as accurate as possible.
Integrate Your Payment Processing Methods Today
ReliaFund is a huge proponent of streamlining and simplifying your payment processing methods into one platform. Sure, you can use Square and Paypal and Venmo, and a traditional POS system, but that only adds to the hassle of doing business and offers more room for errors to go unchecked.
ReliaFund’s payment processing services were designed to help you streamline all your payments, whether they are website or app-based, or come in the form of recurring payments, ACH, credit, debit, or checks.
Contact us today to learn more.