Tesorio accounts receivable automation platform empowers your collections team to collect cash faster by automating key processes.
Feature |
Paystand |
Tesorio |
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Credit Card Processing
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Modern: Blended, fixed, wholesale rate across all card types, apart from AMEX. The exact fee is calculated at the time of the transaction, and is locked in by the contract. 2.39% + $0.30/txn AMEX: 3.5% + $0.30/txn |
Processes credit cards through 3rd-party partnership with Stripe, typically between: 2.6% - 3.1% + $0.30/txn |
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ACH
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Direct ACH (Debit or Credit), no two drop verification of login required |
Yes, but fees are not stated. ACH payments take 3-5 days to clear. |
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Bank Network |
Debit or Credit customer accounts with zero transaction fees ($0 + 0%) and real-time funds verification for fast time-to-cash
|
N/A
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Fee Reconciliation
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Journal entries booked to NetSuite automatically as payments occur, with no manual intervention from staff
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Unknown
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Fee Management
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Robust, native fee management with thresholds and convenience fees. Fees, even when surcharged, are reconciled at the time of the transaction with proper journal entries automatically updated.
|
None
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Payments Interface
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Completely customizable to your brand, with smooth customer experience, modern UI/UX, partial payments, and real-time balance updates.
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Requires custom development to brand, modern UI/UX, no real-time payments are posted, to see remaining balance you would have to access AR account. |
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Required 3rd-Parties
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None
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Stripe is their 3rd-party processor.
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Click-to-Pay on NetSuite Invoices
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Auto-Embedded within new or existing NetSuite templates & workflows
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Embedded within new or existing NetSuite templates & workflows.
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Cash Application
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Real Time: payment records written to NetSuite instantly to auto-update balance on invoice
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None, there is no auto-cash application functionality with Tesorio.
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Bank Deposit Reconciliation
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Daily deposit records updated in NetSuite automatically, with no manual intervention from staff (eliminates end of month reconciliation).
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Deposit reconciliation automated on a weekly basis if used with integrated ERP.
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Customer Statements
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Enable your customers to view and pay multiple invoices/account balance with a few clicks, payment records automatically written to corresponding invoices.
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Unknown |
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Automated Payments
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Create advanced & automated recurring billing schedules for any required configuration (monthly, quarterly, net terms, installments, usage based, etc) directly within NetSuite environment.
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There is no auto-pay functionality for subscription customers. There is no auto-cash application functionality with Netsuite.
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PCI Compliance
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Paystand customers absolved of need to become PCI Compliant: all PCI compliance concerns handled as part of overall product offering.
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Tesorio provides customers with a fully PCI compliant platform through Stripe for payments, billing information, and correspondence. Customers gain full visibility to see what they are paying and gain the confidence that they are doing so securely.
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Overall ROI
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Long term ability to control A/R costs, move to fixed rate, and continue to reduce costs with free bank network—even as revenue grows.
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Stuck in legacy card processing model, where costs continue to increase as revenue increases, card networks can announce fee increases periodically.
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- Who is your payment partner?
-Stripeprocesses the payments that are made through the Financial Care Center. - How long will it take for my payment to process and post to my Vendor?
- Credit and Debit Card transactions will charge your account immediately,
however, in rare instances, payments may take up to 24 hours to be approved.
- ACH transactions typically take 3 to 5 business days to clear.
- Stripe has also noted instances where transactions can take up to 14 days to
clear and for funds to be transferred. - Is your payment partner PCI compliant?
- Yes. For more detailed information regarding PCI compliance, please visit our
partner’s compliance guide. - Does your payment partner have formal documentation around audit processes?
- Additional information on our partner’s audit protocols may be foundhere. - What payment methods are accepted by the Financial Care Center?
- Credit card, debit card, and bank transfer are accepted. - What currencies does your payment partner handle?
- A full list of supported currencies can be foundhere. - If I have made a mistake in payment, can we obtain a refund through the Financial Care Center?
- No, if an error has been made in payment, please contact your vendor for
assistance. - Can I cancel a payment that has already been made on the Financial Care Center?
- No, if an error has been made in payment, please contact your Vendor for
assistance. - I currently have a credit memo with my Vendor. Can I use that credit to apply the payment to another invoice through the Financial Care Center?
- Please contact your Vendor directly to apply any credit memos to your open
invoices. - Can the Financial Care Center accept partial payments?
- At this time, a user cannot accept partial payments to open invoices. - Are there limits to the amount I can pay on the Financial Care Center?
- Please contact your Vendor directly regarding their limits for any credit card
transactions. There is no limit on ACH transactions. - My Vendor has not received my payment, but I see the charge on my statement. Where is my payment?
- Some types of transactions may take up to 5 business days to clear. Please work
with your vendor or your bank to better understand when your payment will be
available.