Global business software provider Zoho has entered the U.S. payments market by launching Zoho Payments, a unified solution that helps businesses collect payments online using a variety of methods like cards and automated clearinghouse.
The solution offers native payments capabilities within Zoho, enabling businesses to manage payments directly within their existing financial workflows.
“As digital payments become the default preference for everything from online purchases to subscription services, businesses need a payment solution that not only offers flexibility, but is also tightly connected to their financial operations,” said Raju Vegesna, chief evangelist at Zoho, which is based in Chennai, India, and has U.S. headquarters in Austin, TX. “Zoho Payments closes this gap by natively connecting with our ecosystem, enabling seamless collections across different use cases. Our solution provides businesses with better authorization rates, strong risk management, automated reconciliation, and helps minimize losses from fraud and chargebacks, delivering real operational value as payment volumes grow.”
Zoho Payments helps businesses accept card payments in more than 135 currencies and ACH payments for transactions within the U.S. The payment solution works out-of-the-box with Zoho’s apps from finance and operations, sales and marketing, low-code, and collaboration platforms. Businesses can also connect to any third-party systems via application programming interfaces to collect payments.
Payments can be accepted through various connected workflows, such as sending invoices or payment links to customers, creating hosted payment pages for one-time or recurring payments, or collecting payments via an e-commerce store.
This level of flexibility allows businesses to offer seamless payment experiences to their customers while benefiting from faster settlements and customized payout scheduling, Zoho says.
“Zoho Payments is PCI DSS Level 1 compliant. The application offers significant advantages that strengthen financial processes and operational efficiency,” Zoho said. “It helps businesses improve their payments success rates, boosting top-line revenue, while fraud protection reduces chargebacks, positively impacting their bottom-line performance. With automated reconciliation, finance teams can reduce the amount of time spent on manual tasks and avoid any resulting errors.
“The platform is highly scalable, providing the reliability that businesses need as their transaction volumes grow,” the company added. “Moreover, businesses can get better visibility on their payment transactions, payouts, refunds, payment failures, and account summaries, creating insights into cash flow, payment trends, and operational bottlenecks.”
Zoho Payments is now available for use. Pricing for domestic cards is 2.9% + 30¢ per transaction, which includes Visa, Mastercard, Amex, Discover, JCB, UnionPay, and Diners Club. The pricing for international cards is 1.5% plus the domestic card fee.
More information about Zoho Payments can be found here.
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Tags: Accounting, payments, Small Business, Technology, Zoho
