Payment Processing 101 with Microsoft Dynamics

Microsoft Dynamics is a leading ERP solution helping small to medium sized businesses manage their entire operation. With all operations managed in one central place, Dynamics becomes the one source of truth for the business which offers many significant advantages like streamlining operations and making reporting easier. To make the most of this investment and attain those desired benefits, businesses want to integrate all their operations, including payments with Dynamics.

What is Payment Processing?

Payment processing essentially automates electronic payment transactions between the merchant and customer by using software that processes, verifies and accepts or declines credit and debit card transactions. When integrated with a business's ERP system, such as Microsoft Dynamics NAV or 365 Business Central, manual processes are greatly reduced to achieve greater efficiency. Choosing a payment processor that works within Microsoft Dynamics will benefit both you and your customers.

What to look for when choosing a processor:

Alternative Payments. There are many ways to pay besides credit card. Gift cards, Apple Pay, ACH and more alternative payment types are becoming increasingly popular. Integration with these alternative payments, and continually innovating to add more technologies as they become available to the Dynamics ecosystem, is an important feature to look for when deciding on a payment processor.

Fraud Management. Look for a solution that will take proactive measures to prevent fraud by using advanced security tools, as well as a trusted partner that is willing to fight on your behalf to win chargeback cases when they are believed to be fraudulent. Zero chargeback liability should be a goal for every business in today’s payments environment. EMV/CHIP cards are a must in a POS system. Look for tokenization solutions that provide the highest level of security across all sales channels while allowing for easy returns, exchanges, or transfers in-store or online.

Automated Accounts Receivable Solutions. Get paid faster, save time, and reduce paperwork - this should be the goal of every business. Employing an automated solution that allows customers to pay invoices and statements online, rather than emailed PDFs that must be printed and paid in the traditional way, can help you achieve this. Customers like a "Click Here to Pay" button that makes it easy on them, and efficient for you. 

Integrated Systems. Payment processing integration allows for transaction data from electronic payments to flow seamlessly into a business’ accounting and ERP systems. This not only saves time and money, but it makes payment processing more efficient, and can ensure that inventory and sales are in sync. A solution designed for Microsoft Dynamics 365 and NAV will ensure integration that works with the version of Dynamics your company is utilizing.

PCI Compliance. Payment Card Industry (PCI) compliance refers to the technical and operational standards that you must follow to ensure that credit card data provided to you by your customers is protected. Any business/merchant that wants to process, store or transmit credit card data is required to be PCI compliant. Working with a trusted payment processor that emphasizes PCI compliance and has processes in place to reduce PCI scope is critical.

Lower Costs. Payment processors can charge different rates depending on factors like the type of credit card used to make a purchase and the data collected during transactions. Look for a partner that embraces interchange optimization, ensuring you are not duped by unnecessarily high interchange rates.

ChargeLogic Solves Dynamics Payment Processing Needs.

At ChargeLogic, we understand the unique payment processing needs of our clients and work with Microsoft Dynamics to constantly innovate and offer an affordable, customized processing solution for your business. With ChargeLogic, you will be able to accept both traditional and alternative forms of payments, and accept payments anytime, anywhere. ChargeLogic’s tight integration with Microsoft Dynamics enables us to process the Level 2 & Level 3 data necessary to give you the lowest rates possible for corporate credit cards and government purchasing cards. Our Click-to-Pay provides a turnkey, automated accounts receivable solution that allows your customers to make payments easily by credit card or electronic check.

ChargeLogic will be your trusted partner and work with you to reduce manual processes, lower costs, eliminate fraud and increase your sales with our advanced and innovative tools for Microsoft Dynamics.

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