While financial institutions are trying to improve services to their small and medium-sized business clients, many offer fragmented programs that only partially address their clients’ needs. Problems remain. Traditional cash management solutions don’t scale to small business. Many financial institutions’ services for small businesses refer them to multiple separate vendors. As a result, many businesses piece together their own combination of solutions to accept and manage payments – a costly endeavor for businesses and a lost opportunity for the financial institutions serving them.
D+H’s Total Transact is a secure, web-based payment gateway for financial institutions. It supports business payments processing and enables businesses of all sizes to accept and manage payments. Total Transact provides the payments infrastructure needed to support small and medium-sized businesses (SMBs) and attract new business, within a single managed platform.
Total Transact offers modern architecture and a sophisticated user experience. It allows financial institutions to provide access to e-check payment software, credit card processing, remote deposit and consolidated reporting - all from a single platform that sits alongside their existing online banking portal. This allows them to gain visibility into their consumers’ financial flows and apply analytics to inform the offer of more relevant and differentiated products and services.
Financial institutions using Total Transact can generate income from small businesses and microbusinesses by offering easy “pay-per-use” access to fee-based payments, deposit, and financial management features. These services open up a new revenue stream based on acquiring and processing card payments.
SMBs can leverage Total Transact’s web-based payments APIs for software integration or batch payment processing by incorporating the system as a payments processing engine behind online or mobile payment pages. Total Transact also provides a branded online payment page to link from the online payment point for credit card and ACH payments.
By providing more convenient payment options for customers businesses are able to improve their receivables operation. Using Total Transact, they can take payments from credit cards, eChecks and via an ACH. In addition, the ability to handle installment payments, scheduled payments, recurring payments and payments at point of service, online or over the phone can help to increase business. And, with a remote deposit capture facility, deposits can be made directly from the office for greater convenience. Using integration plug-ins, Total Transact can also be integrated with receivables solutions such as QuickBooks to streamline the process by automating payment entry, posting and check deposits.
Total Transact simplifies commercial consumer management with the consolidated administration and reporting of organizations, users and services, with the ability to extend entitlements to business consumers. Total Transact’s suite of services includes payments processing, remote deposit capture, payment origination and the reporting needed to monitor and review all transactions. Views into scheduled and recurring payments inform revenue forecasting and give visibility of upcoming income.
Total Transact is deployed on a Software-as-a-Service (SaaS) basis. It is PCI-compliant and is hosted in D+H's SSAE 16 certified service bureau, which benefits from the highest physical and logical security standards, with provision for full disaster recovery, business continuity and data backup. D+H specializes in secure transaction processing.