Your small business needs a payment gateway, and your bank says they can do it all for you. But how robust is their payment solution? How easy to use? And how much does it cost? Here are 5 fundamental features independent payment solutions like PayGround offer that banks can’t.

Payment Solution Plus #1: Easy Dashboard Access

One of the biggest benefits a payment solution not associated with a bank can offer is dashboard access. That’s actually one of the reasons we created PayGround. 

Instead of simply sending a statement once a month as services that use a local bank do, PayGround is able to track all business payments in a single system that’s clean, attractive, no-nonsense and always accessible to customers. We want it to be a place you don’t have to spend hours learning how to use, but that you could easily spend a few hours using because it’s simple, sleek and functional. 

A good payment solution should provide a comprehensive dashboard that:

• Offers high-level analytics
• Allows you to see who’s paying, how they’re paying and how fast they’re paying, and
• Includes transaction-level detail for each day.

Payment Solution Plus #2: Robust Reporting

If you’ve ever tried to itemize tax expenses using your bank’s system, you know it can be challenging. Oftentimes, they don’t have the filters you need, or they don’t search transactions going back as far as you need them to; Or, if they can do those things, the only formats you can download the finished report is CSV, Excel or another data-based form that’s not helpful when you need to show stakeholders where things stand.

PayGround makes pulling and viewing reports quick and easy. You can:

• Use our templates or create your own custom reports
• See daily trends of collections as well as a 6 month views
• Select metrics like payment turnaround times and status, and 
• Set your reports to run and be delivered to whoever needs them, as often as you’d like. 
• Filter by method of payment, so you can track where payments are coming from.

Payment Solution Plus #3: Total Fee Transparency

Banks are big institutions, and with that overhead comes fees. It makes sense — banks have a lot of employees, regulations and overhead, and that cost has to be borne by someone. We just don’t think that someone should be you. 

At PayGround, we believe simpler is better, and that starts with no hidden or unnecessary fees. We charge only 2 fees for credit card transactions:

1. A credit card rate fee 
2. Transaction fee 

If you’re collecting payment via ACH, there is only a 1% fee (plus no transaction fee). It’s simple and see-through, every time. 

Payment Solution Plus #4: A la Carte Offerings

When you use your bank as your payment solution, they may require an all-or-nothing approach. You either run all payments through them, or they make it difficult for you not to do that. Typically, no one is at fault here — big banks may have clunky or antiquated systems that don’t interface well with add-ons or customization. 

But what if you already have an onsite payment provider that works for you, or an invoice system you like? That’s where a menu of options is crucial. 

When you use PayGround as your payment solution, we:

• Focus on solving one problem at a time
• Allow you to add on additional services as needed, and
• Don’t lock you into long-term contracts so you can change your features anytime you need to. 

In other words, we host everything. We’ve helped many customers who don’t even have a website get online quickly to receive payments. Banks will likely be hard-pressed to do the same.

Payment Solution Plus #5: Your Branding, Not Your Bank’s

As a business owner, you know never to underestimate the importance of branding. We look at your payment gateway as another opportunity to reinforce it. The best many banks can do is underscoring their branding with your name, which just won’t cut it.   

With PayGround, you get:

• A custom payment page with a unique URL
• Personalized forms to fit your business needs
• Branded paper invoices or emails that direct customers to your landing page, and
• A sense of security for your customers, which can help prevent late or missing payments.

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