Payment processing integration allows for payment transaction data derived from credit/debit card or other electronic payments (such as those made over the Internet or on mobile devices) to automatically flow into a business’ accounting or ERP system when a sale is made.
Although there are initial costs to implement such a system, the benefits of an integrated payment solution greatly outweigh those costs.
1. Integration saves time: Time saving is the real advantage that is provided by payment processing software solutions. The time saved by no longer requiring individuals to manually enter credit card and other electronic payments into accounting software is without a doubt the most valuable cost-saving feature.
2. Reduces labor costs: Integrating the payment process also creates savings in terms of costs allocated to the business workforce. With payments feeding directly into the general ledger at the moment of payment, it is no longer necessary to have a dedicated accounts receivable employee on payroll or pay an accountant solely to reenter data from credit card transactions to reconcile accounts.
3. Reduces human error: Adding the human element into the payment transaction process increases the opportunity for errors to be made. But in case of payment software integration, it reduces the errors to a large extent and eliminates entry errors and provides confidence that accounts are accurate.
4. Increase cash Flow: Having an integrated payment processing solution that provides reliable and current reports on exactly how much money a business has available at the end of each business day helps it better manage payroll and inventory, pay vendors, and make better, more informed operating decisions.
Chetu Inc. is world class software development solutions provider with more than 2000 programmer. We work for customized payment software development and integration solutions which include customized retail and virtual POS system terminal applications for Equinox devices. We program custom standalone Equinox terminal applications and pin pad interfaces using Linux, HTML5, and Java Script for the Luxe Famliy, Apollo AIO, and the L5000 Series devices
Although there are initial costs to implement such a system, the benefits of an integrated payment solution greatly outweigh those costs.
1. Integration saves time: Time saving is the real advantage that is provided by payment processing software solutions. The time saved by no longer requiring individuals to manually enter credit card and other electronic payments into accounting software is without a doubt the most valuable cost-saving feature.
2. Reduces labor costs: Integrating the payment process also creates savings in terms of costs allocated to the business workforce. With payments feeding directly into the general ledger at the moment of payment, it is no longer necessary to have a dedicated accounts receivable employee on payroll or pay an accountant solely to reenter data from credit card transactions to reconcile accounts.
3. Reduces human error: Adding the human element into the payment transaction process increases the opportunity for errors to be made. But in case of payment software integration, it reduces the errors to a large extent and eliminates entry errors and provides confidence that accounts are accurate.
4. Increase cash Flow: Having an integrated payment processing solution that provides reliable and current reports on exactly how much money a business has available at the end of each business day helps it better manage payroll and inventory, pay vendors, and make better, more informed operating decisions.
Chetu Inc. is world class software development solutions provider with more than 2000 programmer. We work for customized payment software development and integration solutions which include customized retail and virtual POS system terminal applications for Equinox devices. We program custom standalone Equinox terminal applications and pin pad interfaces using Linux, HTML5, and Java Script for the Luxe Famliy, Apollo AIO, and the L5000 Series devices
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