What percentage of your payments from clients do you collect via credit card versus wire transfer? Do you prefer ACH or wire transfers for deposits, progress payments or service agreements? What is your average credit card transaction amount and how much of that are you paying in a merchant rate for processing?
These are just some of the burning questions answered in the D-Tools Payment Processing Special Report, which offers some benchmark data regarding how (and how much) integrators are using various forms of payment processing methods.
The data is mostly drawn from the first few months of the implementation of D-Tools Payments, an embedded payments solution in D-Tools Cloud. D-Tools Payments tracks both credit card and ACH direct payments made by customers to integration companies for deposits, progress payments and services agreements. In just a few months, millions of dollars in transactions have been processed through D-Tools Payments, which has led to some eye-opening information that can help integrators manage payments transactions more effectively. Moreover, there are updates coming to the software that will allow integrators to track job costs and offset payment acceptance fees.
Prior to the launch of D-Tools Payments, which officially debuted in early September 2024, D-Tools conducted a survey of a small sample of D-Tools Cloud customers that rely daily on the software. The desire for a more efficient method of managing payments was apparent, with nearly all (88%) responding they would be interested in exploring and testing a new payments solution for their integration business.
Typically, for integrators to begin to accept credit cards and ACH payments from their clients, they must first sign up for a merchant account with the either the major card networks like VISA or MasterCard, or with a financial institution for ACH debit or credit transfers. Both avenues required the integrator to undergo an underwriting process that entails providing personal and business information such as home and business address, tax identification number, Social Security Number, average revenue and transaction volumes, etc.
Download this free report to get the details on how payment processing is evolving and use the information as a guidepost for your own payment collection methods.