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Cash Advance
Check 21 (Remote Deposit Capture)
Check Conversion Service
Check Guarantee
Check Verification
Check Card Terminals
Donate Now
Gift Card
Invoice Payment and Presentment
Loyalty Card
POS Check Conversion
Sage Exchange
Sage Mobile
Paya QuickBooks Integration
Shopping Cart
Virtual Check (ACH)
 

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Paya Merchant Cash Advance

Description

What is Paya Merchant Cash Advance?

Resolution

Working capital that helps you bolster your business. Turn your future credit card sales into the working capital you need to explore new opportunities, manage expenses and grow your business.

How can a Cash Advance Help Your Business?

  • Expand your business facility
  • Increase your product line
  • Meet unexpected expenses
  • Advertise your business
  • Purchase new equipment

Benefits of Paya Merchant Cash Advance:

  • A lump sum of immediate cash funding that is based on your future credit card sales
  • Working capital without the asset requirements of bank loans
  • No fixed payment amount

How Paya Merchant Cash Advance Works

  1. You sell a fixed dollar amount of your future credit cards sales at a discount.
  2. You receive a lump sum of immediate cash.
  3. A percentage from each settled credit card sales is collected until the repayment amount is reached. There are no fixed payment amounts, no fixed payoff date, no manual processes, and the system is completely automatic.
  4. Each month you will receive a statement detailing the status of your account.
  5. Once your initial repayment amount has been collected, you may be eligible to receive another lump sum of cash for future business needs.
     

Get more information on Paya Merchant Cash Advance: Call 800-652-2370 to speak with a representative.

 


Check 21 (Remote Deposit Capture)


Allows businesses to electronically convert and deposit checks to a merchant’s linked bank account. Unlike Check Conversion, Check 21 covers all types of checks (personal, business, money orders, etc.), has no financial limits and is the legal equivalent of the original paper check or money order. Keep in mind that even though the PROGRAM does not have financial limits, Underwriting may impose a limit.

Features
  • Accept payments that do not qualify for electronic check conversion such as Money Orders, Cashier, Travelers & Certified Checks
  • Add-on features include check verification and guarantee
  • Compatible with most point-of-sale terminals

Benefits

  • Accept checks in person, or via drop box, mail, delivery courier.
  • Customer authorization not required
  • Saves time & hassle; no bank trips

Frequently Asked Questions

What equipment do I need?
A dual-sided check imager.

How fast can I get paid?
The standard is 2-3 business days.

How can I view my check images?
Online reporting provides access to check images.
 

Check Conversion Service

A service that allows businesses to electronically convert and deposit a paper check to their bank using a check reader.

Features

  • Ability to accept personal paper checks and convert to an electronic check deposit
  • Compatible with any bank or credit union
  • Check readers can be plugged into most point-of-sale terminals

Benefits

  • Improves customer experience by offering more payment options
  • Saves time and hassle; no unnecessary trips to the bank
  • Saves money by reducing bad check risk through real-time verification

Frequently Asked Questions

What is a check reader?
A device that reads the magnetic ink encoded on a paper check. Check readers are often plugged into credit card terminals or PCs that access a virtual terminal.

What equipment do I need?
A check reader connected to a compatible point-of-sale system.

Will my checks settle with my credit card batch? Yes.

What types of checks can I accept?
Personal and some business checks (contact your sales representative for further details).

How fast can I get paid?
The standard is 2-3 business days.
 

Check Guarantee

An add-on feature to POS Check Conversion and Check 21 that guarantees a business will be funded even if the check is returned. Check verification is required with this add-on.

Features
  • Based on the results of the check verification, guaranteed funding is provided to the merchantBenefits
  • Increase revenue by safely accepting checks
  • Reduce risk of accepting bad checks
  • Stop Payment coverage available for certain business types 

Frequently Asked Questions

How much does it cost?
Cost typically ranges from 1.5% – 3% of the transaction and can increase depending on risk factors.

Is this 100% guaranteed?
Yes, provided proper procedures are followed.  Not available with recurring payments.

What is required for a check to qualify for guarantee?
At check-out the check writer and their account information are screened through multiple databases and fraud detection systems.
 

POS Check Verification

An add-on feature to POS Check Conversion and Check 21 that verifies the check writing history of the account holder


Features

  • Matches check writer’s history against a database looking for any fraudulent transactions.

  • Account number, routing number and driver’s license are verified against a national database for check writing history and volume to mitigate risk

Benefits

  • Reduces risk of accepting bad checks

  • Lower cost than credit cards 
     

Frequently Asked Questions

How much does it cost? 
There is a nominal fee.

Does it speed up payment?
No, it allows you to understand the risk associated with accepting the check.

What is verified?
The check writing history of the account holder.
 

Credit Card Terminals

Equipment used for entering credit card data (swiped or keyed).

Features

  • Insert, swipe or manually enter card information
  • Transmit data to processor for authorization
  • Accept all major credit card brands without need for a PC
 

Benefits

  • Saves money.  Lower rates than for mail/telephone orders
  • Easy to use and highly reliable
  • Much easier to achieve and maintain PCI-compliance
 

Frequently Asked Questions

Which terminals are PCI compliant? 
As there is no clear cut list, please contact Paya support.

Which terminals are EMV- (Smart Card/Chip Card) capable?
 Currently the iCT 220 & iCT 250 (list of EMV-capable terminals will be updated as more become available).

Must I buy them or can I lease them?
Purchase is the only option currently available.

Can I use the terminal I already have? 
Yes, if the terminal is a Class A device. If your existing terminal is not Class A certified you may be able to use it but you will need support from a third party vendor.
 

 Donate Now

A software application that allows customers to make online donations via a web site.  

Features

  • Accept credit/debit cards, virtual checks
  • Ability to donate to multiple charities within a single organization
  • Accept donations in honor or memory of
  • Ability to customize receipts for tax purposes
 

Benefits

  • Increases revenue through recurring gifts
  • Create a customized donation page with minimal IT resources needed
  • Configure to accept donation in any form of payment

Frequently Asked Questions

How much does it cost?
There is a nominal fee.

Can my customers make anonymous donations? Yes.

Is it secure?
Yes, it is PCI-compliant.

Can my customers print a receipt for tax purposes? Yes.
 
 

Gift Card

A reloadable card, branded with the business’ name, redeemable only at the business’ stores (like a Starbucks card). Also referred to as “private label card.”

Features

  • Replaces paper gift certificates

  • Includes online tracking and reporting

  • Multiple stores can be setup to participate in a single gift card program

Benefits

  • Increases sales, as customers often spend more than card value, motivating them to return

  • Increases revenue as unused card balance remains with business

  • Can be issued for returns and exchanges in lieu of cash to keep revenue in store

  • Improves store’s brand awareness
     

Frequently Asked Questions

Does it work with my point-of-sale terminal? 
Yes, in most cases.

Does the card expire or can I charge a fee for inactivity?
Yes to both, based on state regulations.

Can I put my store logo on it?
Yes, it can be branded with your store’s logo.  

How much does it cost?
The cost depends on the package that is ordered (e.g., pre-designed vs. custom).
 

Invoice Payment and Presentment


A tool that allows you to access and pay invoices from compatible accounting software

Features
  • Search by account, invoice or customer number
  • Can accept both check and credit card payment
  • Can apply payment to a customer’s account inside the accounting software (Sage Exchange version only) 
 

Benefits

  • Ability to pay invoices anywhere, anytime without logging in to software
  • Show outstanding invoices to customers easily
  • Take lump sum payment and apply against multiple invoices (Sage Exchange version only
 

Frequently Asked Questions

How much does it cost?
There is a nominal fee.
 

Loyalty Card

A card, branded with the business’ name, that tracks purchases and manages rewards and incentives based on customer activity (like a grocery store card). 

Features
  • Customizable rewards program to fit business’ needs
  • Online reporting includes customer registration information/demographics which can be used to target promotions or incentives 

Benefits

  • Increases sales by driving repeat business and building brand loyalty
  • Increases revenue due to higher total spending

Frequently Asked Questions

Is my customer’s personal information secure?
Yes, Paya's policy prohibits the sharing or selling of customer information.

How much does it cost?
The cost depends on the package that is ordered (e.g., pre-designed vs. custom).

Does the card expire?
Yes, based on state regulations.

Can I put my store logo on it?
Yes, it can be branded with your store’s logo.  
 

Point of Sale Check Conversion

Allows businesses to electronically convert and deposit to a merchant’s linked bank account, personal checks up to $25,000 in value using a check reader device. For more options, such as converting business checks or checks over $25,000 see Check 21.

Features

  • Compatible with most point-of-sale terminals
  • Add-on features include check verification and guarantee
  • NACHA-compliant, meaning the solution is compliant with federal regulations
     
Benefits
  • Improves customer experience by offering more payment options
  • Saves time and hassle; no unnecessary trips to bank
  • Saves money by reducing bad check risk through real-time verification
 

Frequently Asked Questions

What equipment do I need?
A check reader connected to a compatible point-of-sale system.

Will my checks settle with my credit card batch? Yes.

What types of checks can I accept?
Personal and some business checks (contact your sales representative for further details).

How fast can I get paid?
The standard is 2-3 business days
 

Sage Exchange Management System


An online payment management system that consolidates your merchant and ACH accounts in one place and provides robust user administration tools.

Features
  • Access to all your payment accounts, payment devices, reports and statements with only one username and password
  • Dashboard that organizes your payment accounts showing real-time balances
  • Multiple users within a single account can be set up with specific permissions
  • A do-it-yourself tool that connects your payment devices with compatible accounting solutions, like Sage software products and QuickBooks
  • Self-service capability allows you to research, buy and integrate additional products and services at your leisure
  • Accessible via a web browser or mobile tablet
 

Benefits

  • A ‘one-stop shop’ where you can access all payment accounts, products and services
  • Faster decision-making by providing a real-time view of cash flow across all payment types
  • Eliminates duplicate data entry by auto-synching payments with accounting/ ERP software
  • No need to remember multiple usernames and passwords

Frequently Asked Questions

How do I install/download Sage Exchange? 
You don’t need to install or download anything.  This is a web-based payment management system that gives you access to your entire payments world.

  

Sage Mobile Payments


A mobile application that enables most smartphones and tablets to process credit cards.

Features
  • Offline capability (trade shows; dead cell zones)
  • Captures signature and emails receipt to customers
  • Compatible with iOS, Android and Windows
 

Benefits

  • Easy to accept payments, anywhere, anytime
  • Effective way for all employees to be able to accept payments
  • Saves time due to integration with Sage accounting software and QuickBooks
  • Lower processing costs by swiping the card and having the customer sign on the screen
 

Frequently Asked Questions

What types of credit cards can be processed?
All major brands.

What do I need to make this work on my phone or tablet?
You need a compatible device (smartphone or tablet) with the installed app.  A swiper is optional but recommended.

What accounting software does this integrate with?
Most Sage accounting products and QuickBooks

Is this compatible with my device and/or carrier?
Smart phones are required and it is compatible with all major US carriers.

 

Paya QuickBooks Integration

Description

Paya QuickBooks Integration

Resolution

This is an extension to the QuickBooks software, allowing merchants to accept credit card and electronic check (ACH) transactions with a Paya merchant account.

Features

  • Integrates directly with QuickBooks software
  • Process credit card/check/ACH transactions within QuickBooks
  • Ability to post payment directly to QuickBooks for transaction initiated outside of the software
 

Benefits

  • Reduces bookkeeping time and expenses by eliminating manual data entry
  • Saves time and hassle; no unnecessary trips to bank
  • Improves profitability and efficiency
  • PCI-certified
 

Frequently Asked Questions

What does it cost?

There is a nominal monthly fee.

How do I sign up? 

Contact your sales representative.
 

 

Shopping Cart


A software application that allows customers to order and pay for products and services on a web site. 

Features

  • Build and link to a product catalog
  • Configure settings for email receipts, banner image, risk controls, payment types (credit card, electronic checks), tax and shipping details
  • Set up recurring products, such as subscriptions and memberships
 

Benefits

  • Compatible with your merchant account, accessible through Sage Exchange
  • Easy to use with minimal IT resources needed
  • Can be configured to accept most forms of payment

Frequently Asked Questions

How do I get it?
You can easily add it through the Product tab in Sage Exchange. If you are not a Sage Exchange user, please contact your sales representative.

How much does it cost?
There is a nominal fee.
 

Virtual Check (ACH Account)

A financial account that allows businesses to process electronic payments directly from a customer’s bank account.  

Features
  • Compatible with any bank or credit union
  • Recurring payments are available
  • Checks can be taken over the phone or Internet and converted into an electronic ACH deposit
  • Please note that Paya does not provide an interface to accept "Checks-by-Web product." This will need to be supplied by a third party web developer or by the merchant themselves. Paya only provides the API or Application Programming Interface to the merchant or web developer. Our Virtual Terminal, is only for the merchant entered and initiated transactions via our ACH Debit and Checks-By-Phone Products.
 

Benefits

  • Improves customer experience by offering more payment options
  • Paperless, no physical check required
  • Lower cost than credit cards
  • More cost effective for recurring and large payments than credit card processing 
 

Frequently Asked Questions

What do I need to make this work? 
You need a bank routing and account number.

Can I accept business checks? Yes.

Is customer authorization required?
Yes, and it can be verbal or written. (Verbal would be the Checks-By-Phone program which requires a recording service; Written requires approved ACH Debit Authorization Form to be filled out and filed in the merchant's accounting records). 

When can I expect to get paid?
The standard is 5-7 business days.

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Topic Information
  • Topic #: 20000-4579
  • Date Created: 05/19/2016
  • Last Modified Since: 01/31/2018
  • Viewed: 1033
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