Payment Processing Modules

How to Integrate Business Software Packages with Payment Processing Modules
By Lisa Hephner

Integrating a business software package with a payment processing module is simple. The module can be fully integrated with a tabbed section inside the application or accessed via buttons within the applications. Or, it can be created as an external module that uses batching for transferring data between the processing program and the main application. Payment processing can also be provided as a separate online bill-pay feature that does not directly integrate with the main application database. This integration technique can also be used to embed a “pay now” link in email invoices generated by the business software package. Examples of each kind of implementation, along with general guidance on implementation time, cost, and revenue potential, are provided below.

FULLY INTEGRATED

A payment processing module can be integrated into any business management software be creating a button that links to the processing module. By clicking on the “payment processing” button, users will be able to collect on any individual invoice. By selecting a recurring billing option from the menu, they will be able to process all recurring transactions queued in the system. By using the payment processing system’s API, the core business application can be mapped to the payment processing component for completely seamless integration.

Typical Integration Time: 3 days (programming time)

Cost of implementation: $3000

Cost to support payment processing functionality: $0 (payment processing company absorbs all cost)

EXTERNAL MODULE

Data can be transferred between a business software application and a payment processing application using a pre-programmed export module. Field-mapping is programmed into the module in advance to enable one-click integration. For example, a simple modular interface can enable invoices from QuickBooks® to be exported, using pre-defined field mapping, as a batch for payment processing, and then the batch results can be uploaded back into QuickBooks for reconciliation.