Whether your goal is to accept customer payments, set up complex recurring billing or even automate event-driven payment features, it will be important to work with a payment gateway technology that allows you to securely process bank, credit card and other electronic payments. Most payment gateways can be integrated with your existing enterprise systems such as an ERP, POS or CRM system.
Why do I Need a Payment Gateway?
Think of it this way: your customer holds valuable payment information such as a credit card number. Your system holds valuable order information required to complete a sale. A payment gateway is a technology that lives between these two valuable data sets, and removes the need for your system to store sensitive information.
Without a payment gateway, someone from your organization would need to call the customer, write down their credit card or bank number, and take steps to process the payment – a tedious and often insecure process requiring your business to store valuable, protected data.
How do Payment Gateways Work?
Payment gateways accept credit card and bank details from your customer, and convert those details into anonymous “tokens” that can be used to charge credit cards, without exposing sensitive data to your order or invoice system. Instead of storing customer payment details, your organization can save these “tokens” to keep customer payment methods on file.
How Does Valet Data Platform Work With Payment Gateways?
Valet Data Platform reads “tokens” and other information from payment gateway technologies, and seamlessly converts those data into a format your enterprise systems can understand. Enterprise systems such as a CRM, invoicing or ERP system need technologies like Valet to interface with Payment Gateways.
Are Payment Gateway Integrations Included with Valet?
Payment gateway integrations can be included in the basic plan for Valet Data Platform users. Advanced gateway integrations are still available through Valet, but may require custom development on a case-by-case basis.
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