Receivables and Secure Payment Processing

Transcription

1 Receivables and Secure Payment Processing Nodus Technologies, Inc. Fauwaz Hussain x8239

2 Agenda Inefficient A/R Process Improving the A/R Process What is PCI Compliance? How Nodus can help (Demo) To serve as the standard interface in unifying the world of payments to meet business needs, with a simple and secure solution that provides ever-growing payment options with endless possibilities.

3 An Inefficient A/R Process Manual Labor Customer Inconvenience Double Entry Risk of Fraud

4 How to Improve my A/R Process Automation Customer Convenience Integration Security

5 Automation Automate the tasks your employees do manually so they have time to focus on more pressing responsibilities

6 Manual A/R Process Individually mail or invoices Resend invoices because they were lost in transit Send reminders to customers Collect payment information by mail or over the phone Make multiple phone calls to reach the customer Process credit cards through terminal or take checks to the bank Send confirmation receipts Request new payment method after credit card gets declined Enter payments into accounting system On average, 80% of A/R collection expenses accrue from labor costs.

7 Cost of Paper Billing* Based on 600 invoices/month Cost Calculation Total Receiving and Applying Payment 33% Sales Printing 7% Mailing 5% Printing $0.70 X 600 $ Mailing $0.49 X 600 $ Preparing and Sending $3.33 X 600 $ Second Notice $4.52 X 200 $ Third Notice $4.52 X 100 $ Receive & Apply Payment $3.33 X 600 $ Preparing and Sending 33% Monthly Cost of Paper Billing $6, Annual Cost of Paper Billing $72, Third Notice 7% Second Notice 15% Printing Mailing Preparing and Sending Second Notice Third Notice Receiving and Applying Payment *For further explanation, see Nodus White Paper on Paper Billing

8 Today s customer is looking for more control over their payments. Easy and convenient processes make for more satisfied customers. Customer Convenience

9 Online Bill Pay Users Are: 35% 12.5% 20% More likely to pay their bills on time Less likely to leave Known for purchasing 20% more products than paper bill users. *For further explanation and data source, see Nodus white paper on paper billing

10 Integration Bridging the gap between customer payments and your accounting system

11 Without Integration Double Entry Risk of Human Error No Real-time Reporting Manual Reconciliation

12 Security Did you know? When it comes to payments, you as the merchant are responsible for protecting your card holder s data.

13 What is PCI Compliance? Information Security standard for organizations handling cardholder information Created by Visa and MasterCard to reduce fraud Now maintained by the PCI SSC but enforced by Card Brands PCI DSS (Payment Card Industry Data Security Standard) PCI SSC (Payment Card Industry Security Standard Council)

14 How does PCI DSS become applicable? PCI DSS is applicable to any entity that stores, processes or transmits cardholder data such as financial institutions, merchants and service providers. PCI Compliance PCI DSS applies to all payment channels, including retail (brick-and-mortar), mail/telephone order, and e-commerce. How does PCI DSS work? It is a risk-based approach to be applied consistently year round Has 12 Major requirements addressing Physical, Technical & Administrative controls Not a one-size fits all. Some requirements may not apply to you. As a merchant, you are required to report your status to your merchant bank (Acquirer) Benefits of PCI Compliance Lower transaction fees Safe harbor in event of compromise Compliance with State Data Protection and Privacy Requirements for your customers information Reduce risk of costly breach

15 How does PCI DSS become applicable? PCI DSS is applicable to any entity that stores, processes or transmits cardholder data such as financial institutions, merchants and service providers. PCI Compliance PCI DSS applies to all payment channels, including retail (brick-and-mortar), mail/telephone order, and e-commerce. How does PCI DSS work? It is a risk-based approach to be applied consistently year round Has 12 Major requirements addressing Physical, Technical & Administrative controls Not a one-size fits all. Some requirements may not apply to you. As a merchant, you are required to report your status to your merchant bank (Acquirer) Benefits of PCI Compliance Lower transaction fees Safe harbor in event of compromise Compliance with State Data Protection and Privacy Requirements for your customers information Reduce risk of costly breach

16 How does PCI DSS become applicable? PCI DSS is applicable to any entity that stores, processes or transmits cardholder data such as financial institutions, merchants and service providers. PCI Compliance PCI DSS applies to all payment channels, including retail (brick-and-mortar), mail/telephone order, and e-commerce. How does PCI DSS work? It is a risk-based approach to be applied consistently year round Has 12 Major requirements addressing Physical, Technical & Administrative controls Not a one-size fits all. Some requirements may not apply to you. As a merchant, you are required to report your status to your merchant bank (Acquirer) Benefits of PCI Compliance Lower transaction fees Safe harbor in event of compromise Compliance with State Data Protection and Privacy Requirements for your customers information Reduce risk of costly breach

17 Cost of a Data Breach The average cost of a breach to a small business is $36,000. Even worse, 31% of customers terminated their relationship with the company after receiving notification of a breach.

18 Secure Software

19 What is Tokenization? Stores credit card numbers in an off-site, centralized and secure data vault Reduces merchants IT infrastructure cost and scope of PCI compliance Key Values 1. Point of entry for credit card data no longer belongs to the merchant s site. 2. Credit card data is no longer stored on merchant s site. Results Ease on PCI Compliance requirements (typically from SAQ-D to SAQ-C) Ease on self assessment procedure & cost

20 Cloud-Based Storage PayFabric: Nodus proprietary cloud-based payment processing and storage system Features and Benefits Validated with PCI Data Security Standards Connections to multiple payment gateways and processors Hosted Payment Entry and Wallet Screens Eliminates: Point of Entry Transmission Storage

21 Introducing Nodus PayLink Nodus PayLink is a cloud service that allows merchants to send requests for payment to their customers by sending a payment link via , SMS text message and other communication methods.

22 How does PayLink work? Choose a customer ID and enter the amount owed. Then send the payment link. The customer will receive the invoice and associated payment link through or SMS text message. They will click on the link to send them to the hosted payment page. The customer will enter in their payment information, either credit card or ACH/echeck, and click submit to process the payment. Upon approval of the transaction, both you and the customer will receive a confirmation receipt. The payment is integrated seamlessly with the merchant s accounting or ERP solutions, eliminating double-entry.

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38 About Nodus Experienced in Electronic Payments Industry 2+ Billion Dollars Processed 300+ Partners in Microsoft Dynamics Channel 1,700 + Enterprises served 10+ Million Transactions Processed PA-DSS Certified Integrated Payment Solutions 16 years of experience in epayments and ERP/CRM integration (Founded in 2002)

39 Credit Card Advantage epay Advantage estore Solution Stack epayment Processing (GP) Online Bill Pay ecommerce Electronic Payment Processing add-on solution that streamlines and automates business processes, and integrates into Microsoft Dynamics GP Nodus Solutions Full featured Online Bill Pay solution with Recurring Billing that integrates with Microsoft Dynamics GP in real-time Full featured integrated ecommerce solution that streamlines and automates the entire order entry process CRM Charge epayment Processing (CRM) Cloud-based electronic payment solution that integrates with Microsoft Dynamics CRM PayLink One-Click Payment Links One-click payment hyperlinks that provide customers convenience for one-off payments PayFabric Cloud-Based Storage PCI-certified cloudbased processing and storage engine

40 Nodus Solutions Remove the burden of PCI compliance challenges through secured encryption & innovative tokenization technology Save processing fees with Smart Field Level Handling for Level 2/3 Qualifications Protection against fraud and data breach Supporting both US and international payment gateways & processors

41 Thank You! Nodus Technologies, Inc. Fauwaz Hussain x8239