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Payment Gateway+Processor Selection

-Donald Fernandes

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Agenda (Payment Gateway)

  • Process Flow
  • Evaluation Criteria
  • Available Options
  • Next Steps

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What is a Payment Gateway?

A payment gateway is secure specialized service, that sends credit card information from a website to the credit card payment network for processing, then returns transaction details and responses from the payment network back to the website. Without a payment gateway, businesses can’t accept online payments.

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BofA

PB Suite Commerce

PB NetSuite

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Payment Gateway Evaluation Criteria

  • Provides combined Payment Solution (Gateway and Processor)
  • Pricing (One-Time Setup + Fixed Monthly Minimum + Variable-Per-Transaction)
  • Security and PCI Compliance (no CC storage required in NetSuite)
  • Transaction Reporting, Payment Services (including handling Disputes, etc)
    • What are the standard reports available
    • On-Demand reporting
    • Capability to customize reports
  • 24X7 Availability
  • Native Integration with NetSuite OTC and SuiteCommerce
  • Bank Reconciliation (Settlement) with BofA
  • Supports multiple Geographies and Currencies
  • Supports all Major Credit Cards
  • Supports eCheck
  • Supports Auth-Only, Capture, Refund, Refund Reversal, Void, Credit type transactions
  • SOC1 report
  • Duration of Holding of Funds upon Authorization

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Preferred NetSuite Gateway Partners – Evaluation Matrix

Gateway Name

Natively Supported Geographies

Duration

(in Days) for Holding of Funds

Duration in Days upto how many days in the past for Refunds against an Original Purchase

Support for Multiple Credit Card Tokens for a given Customer

SOC1 Report availability

(Type 2)

PCI Compliance

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(Tier 1)

Native Integration with SuiteCommerce and NetSuite

Supports Chargebacks Processing

Supports eCheck Payment Method capability natively

Major Bank Compatibility

(BofA)

Registration/ Onboarding Fees

Per Transaction Fee (Estimate)

Recurring Fees

(Credit Card Processing)

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Platform Capabilities

Comments

Weight 🡺

Med

Med

High

Med

High

High

High

High

Med

High

Med

High

High

Med

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CyberSource

(Visa)

190 countries

Domicile in local country, if local settlement

30 days

Anytime,

As long as use

Tokenization Service

√

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SOC1 report

√

~5000

NetSuite Customers

√

No

√

$495

+

$199 (TMS)

=

$694

2.2%-3.15%

$199

(Xaction)

+

$15 (Acq)

+

$100 (Spt)

=$314

MONTHLY

Basic Reporting,

Tokenization Service

No Recon mechanism,

Takes 3-4 weeks to onboard

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Merchant e-Solutions

Only US Bank Account settlement,

Int’l - TBD

7 days

Anytime,

As long as use

Tokenization Service

√

SOC1 report

√

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~1500

NetSuite Customers

√

​

​

√

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$0

0.10%

$89

+

$50 (TMS)

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ANNUAL

Automated Recon, Mechanism,

Automated Account Updater Service for Expired CCs

Takes a few Days to onboard

WorldPay

Only US and Canada

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No

√

~1200

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√

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$0

0.33%

+

$0.10

$35(TMS)

+

10

+

$24.95 (PCI)

+

$0 (Spt)

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Needs

FDA Approval, before forwarding approval

SoluPay

Only US and Canada,

Other Countries will have USD X’lation

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Anytime,

As long as use

Tokenization Service

√

SOC1 report

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~600

√

√

​

√

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$0

2.85%

$9.50

(Stmt)

+

$55

(NetSuite)

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Supports Level 3 data,

Supports eCheck,

Bank Recon

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Evaluation Summary and Recommendation**

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Pros

Cons

CyberSource

  • Largest NetSuite SCA Installed Base
  • Low Overall Risk (backed by Visa)

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Merchant e-Solutions

  • No Setup/ Registration Fees
  • Lower Monthly Cost

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WorldPay

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  • Does not provide SOC1
  • Requires FDA Approval

SoluPay

  • Supports eCheck solution
  • Provided additional Bank Reconciliation Service
  • Lowest NetSuite SCA Installed Base
  • 50-employee company

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Typical Implementation Phases

Contractual

Provider Certification

NetSuite Integration

Training

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Back up Slides

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URLs and References

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ABC Company (Merchant) Profile Summary

  • Ø Legal Business Name/Physical Business Address:  ABC Company, Inc., 3957 Point Eden Way, Hayward, California 94545
  • Ø Brief description of project: Implementation of eCommerce Portal
  • Ø Go-Live Date for Implementation: late June 2019
  • Ø Company’s ERP, CRM, Billing or Shopping Cart platforms: NetSuite ERP, NetSuite SuiteCommerce
  • Ø Current Merchant Account/ Processor: <none>
  • Ø Gateway: <none>
  • Ø Sales Channels (eCommerce, mCommerce, retail, etc): eCommerce, mCommerce
  • Ø Payment Types Accepted (Visa, MC, AMEX, Discover, PayPal, eCheck, etc):
    • Major Credit Cards (Visa, AMEX, MC, Discover, etc)
    • eCheck
  • Ø Currencies Used (Now? Future?): USD (Now), CAD, EUR, GBP, ??? (Future)
  • Ø Average Order Value ($): ~2000 (USD)
  • Ø Annual online/CNP Revenue ($): <pending>
  • State of Incorporation: Delaware
  • Type of Products: Console, Tips (Consumable - Physical), Treatment Cycles (Consumable – nonphysical)
  • Status: Pending FDA Approval (May 2019)
  • Type of Sales Channel: B2B
  • URL:  https://www.pulsebiosciences.com/
  • Transaction Processing Tier: 1000-10000 transactions / month

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Requested Documentation from ABC Company

  • Completed MAMs application
  • Financial Statements or Personal Guaranty
  • Bank Letter or Voided Check
  • Beneficial Ownership Form
  • Any previous processing statements

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