Best Payment Processor for Salesforce

Salesforce is a powerful CRM platform that helps businesses manage their operations and increase overall efficiency.  While the Salesforce AppExchange offers a variety of payment processors, only a handful truly deliver the benefits businesses need. Many Salesforce users feel stuck in the past.  Manual processes, disintegrated systems, and security concerns are dragging them down. They continue to spend countless hours managing payments, whether incoming or outgoing. 

A recent survey revealed that:

• 75% of Salesforce users still manually process payments.
• 50% of businesses experience delayed payments due to inefficient processes.
• 60% of businesses cite security concerns as a major obstacle to adopting new payment solutions.

This inefficiency doesn't end there—maintaining records and reconciling deposits and payouts further consumes their time, impacting overall efficiency. Despite their significant efforts, they still struggle with poor cash flow due to prolonged payment settlement times. This raises a crucial question: What are they missing? Where might they be going wrong? And what would be the best payment processor to address these challenges?

The Challenge of Disconnected Systems:

Imagine this: Your business is thriving, with your product or service making an impact in the market and a growing number of customers coming on board every day. It’s an inspiring time of achievement and success! You've established a strong business, demonstrated your value, and earned your customers' loyalty.

However, reality soon hits. As your business expands, you find yourself bogged down by the mundane and time-consuming task of manually processing an increasing volume of payments. Then comes the bank reconciliation, a process prone to errors and requiring even more time and attention. Finally, you have to update your accounting system, another laborious step that feels like a routine task.

This scenario is a common pain point for businesses using disconnected systems. It disrupts your workflow, eats into your valuable time, and increases the risk of errors. It takes you away from focusing on what matters most: building lasting relationships with your customers and growing your business.

The Missing Piece:  A Unified payment processor for Salesforce

The answer lies in finding a payment processor that seamlessly integrates with Salesforce, automating processes and streamlining financial workflows.  The best payment processor should have these key features:

Inbound and Outbound Payment Capabilities: The processor should handle both incoming and outgoing payments. This allows you to manage customer payments, supplier payments, payroll, and other financial transactions within a single platform.

Integration with Banking and Accounting Systems: The processor should seamlessly integrate with your banking and accounting systems to connect them with Salesforce. This eliminates the need for manual data entry, reduces errors, and provides a unified view of your finances.

Real-Time Payment Settlement: Payments should ideally be settled in real-time. However, traditional payment processors can take weeks to complete transactions, leading to cash flow issues and delays.

Robust Security and Compliance: Protecting sensitive financial data is paramount. The processor should adhere to industry standards like PCI DSS (Payment Card Industry Data Security Standard), offering advanced fraud protection and data encryption features.

Payments Control Centre within Salesforce: Currently, businesses depend heavily on banks to manage transactions, which places substantial control in their hands. Ideally, Salesforce would enhance this by integrating a Payment Control Center directly within its platform. This feature would allow for managing payments through authorized approval workflows, offering improved control and security over your funds.

Flexible Fund Routing:  It should allow you to auto-direct inbound and outbound payments to different bank accounts or companies, giving you granular control over your finances.

Robust Transaction Fees Management & Routing: The processor should provide ultimate control over custom convenience fees, fee pass-through, fee routing, and deposits. This ensures complete transparency and flexibility when handling transaction fees.

Powerful Transaction Controls:  Provide powerful controls at multiple levels, including the ability to manage allowed payment methods, fees, and even stop payments.  This allows you to tailor your payment process to meet your specific needs.

Transaction - Dispute Management: It should have a payment dispute management system, providing a streamlined process for tracking and resolving disputes, and minimizing the impact on your business operations.

Earnest Money Deposit Functionality: For businesses involved in real estate or other industries requiring earnest money deposits, the processor should handle these transactions securely and efficiently. This ensures compliance and improves the customer experience.

Comparing Solutions:

Let's look at two popular payment processors often considered for Salesforce integration:

While these solutions offer many benefits and strong features, they still fall short in addressing all aspects of financial management. As a result, even though they are effective, they may not be the ideal payment processor for your business.

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REDA Pay:  Your All-in-One Payment Processor for Salesforce

REDA Pay is designed to be the ideal payment processor for Salesforce users. It overcomes the limitations of other solutions by offering:

Comprehensive Payment Types: REDA Pay supports a wide range of payment types, including inbound and outbound payments, earnest money deposits, scheduled payments, payment links, one-time payments, and more. This means you can handle all your financial needs, in one place.

Seamless Integration:  REDA Pay integrates effortlessly with Salesforce, eliminating data silos and automating your financial processes.  This means no more manual data entry, no more juggling between systems, and no more wasted time.  Everything you need is right there at your fingertips, within Salesforce.

Automated Payment Processing:  REDA Pay automates tasks like payment processing, reconciliation, and reporting, freeing up valuable time for your team.  This means less paperwork, fewer errors, and more time to focus on building customer relationships and driving growth.

Faster Payment Settlement: REDA Pay offers a 24-hour settlement policy, improving your cash flow and allowing you to reinvest those funds more quickly.

Flexible Fund Routing:  REDA Pay lets you allocate funds across multiple accounts with ease, providing the flexibility you need to manage your finances effectively.

Robust Security:  REDA Pay adheres to PCI DSS compliance and utilizes advanced fraud detection features, keeping your business and your customers secure.

Ultimate Automation: A point-and-click process automation builder enables streamlined communication, task automation, and custom workflows. It features data events and triggers for managing approval workflows, accounting feeds, and custom standard operating procedures (SOPs).

Real-Time Insights:  Gain real-time financial data and analytics within Salesforce, providing a clear picture of your financial health and enabling you to make smarter decisions.

Benefits of Choosing REDA Pay:
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• Time Savings: Automate tasks like payment processing, reconciliation, and reporting, freeing up valuable time. Save 93% of your time on manual reconciliations.
• Cost Savings: Reduce operational costs by eliminating manual processes and minimizing errors. Save hundreds of man hours and hence thousands of dollars per year. Achieve ROI of +500% using REDA Pay automation. 
• Improved Cash Flow: Enjoy faster payment settlements, boosting your financial health. 24-hour payment settlement to improve your cash flow.
• Enhanced Security: Protect your business and your customers with robust security measures.
• Greater Visibility: Gain real-time insights into your financial operations to make smarter decisions. Drag-and-drop customization feature to display what you want to see.
• Unified Platform: Manage all your financial operations within Salesforce, eliminating data silos and streamlining your workflow. Keep all financial controls within your CRM, Salesforce.

Comprehensive banking automation, not just a payment solution!

The all-in-one solution for seamless and automated banking operations on Salesforce, covering everything from A to Z.

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Traditional Solutions 

On Salesforce app-exchange

Inbound Payments

Manual payments | Schedule payments | Payment Links | Branded digital experience

Outbound Payments

Account payables banking automation to pay suppliers, vendor or for subscriptions.  

EMD (Earnest Money Deposits)

Dedicated secured payments rails to capture deposit made by a buyer to show earnest of good faith.

Flexible Funds Routing

Allowing users to auto direct inbound and outbound payments to different bank accounts or companies.

Deposits - Transaction Reconciliation

Seamless deposit reconciliations by capturing fund deposits with detailed transactions data.

Payouts  - Transaction Reconciliation

Powerful automation to reconcile payouts, refunds and any outbound payments with detailed transactions data.

Robust Transaction Fees Management & Routing

Powerful control on managing custom convenience fees, fees pass through, fees routing and deposits.

Powerful Transaction Controls

Ultimate controls at multiple levels including allowed pay methods, fees and stop payments.

Transaction - Dispute Management

Seamless integrated payment dispute management, tracking and resolution.

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Conclusion:

In today's competitive business landscape, efficiency and streamlined operations are crucial for success.  By choosing REDA Pay, you're not just implementing a payment processor—you're unlocking a powerful tool that revolutionizes your financial management within Salesforce. 

REDA Pay provides a seamless, secure, and efficient solution for your financial needs, allowing you to focus on what matters most: growing your business and building lasting customer relationships.