In any business or non-profit, the concept that cashflow is king rings true. But if your business or non-profit depends on an increasing amount of recurring or non-recurring credit card payments to stay afloat, cash flow can also be complicated. You’ve got to have a Payment Gateway and Merchant Account provider to handle credit card payments, and you need to keep up with all the fees and interconnections between both services. And that’s in-between keeping up with whatever other responsibilities you might have.
If you choose to work with an experienced payment partner like Payway, however, you could enjoy the benefits of having a single provider for both your gateway and merchant account. You may be thinking, “What are the advantages of choosing a single provider?” It’s quite simple really…streamlined processing, savings, and advanced features.
Choosing a complete solution like Payway can help you reduce time spent on balancing, reporting, and connecting the dots from one system to another, and give you more time to focus on other initiatives. Payment processing is streamlined because you have one point of contact for support, security, reporting, and billing.
If you choose to bundle your merchant and gateway, you may want to consider using a provider that uses a cost-plus pricing model. Unlike bundled or tiered pricing, where fees are hidden in a single percentage, cost-plus pricing shows the merchant (you) exactly what fees are being paid and to whom. Although Payway’s gateway and merchant account service can be bundled together for convenience, our pricing never is. We use a cost-plus pricing model to allow for complete transparency across both services.
Processors that have the capability to provide both the gateway and merchant are more than just a processor. They are a trusted consultant that can apply their experience and knowledge to provide innovative features such as point-to-point encryption (P2PE) and automated account updater.
Whether you choose a separate provider or single provider for your payment gateway and merchant account, the team at Payway can help you determine the solution that best aligns with your business objectives. Contact us today at 800.457.9932, ext. 502 to learn more or request a free cost analysis.