by Matt Rej
NetSuite is one of the most popular, trusted, and well-established ERP solutions on the market today. Owned by Oracle, the software gives enterprise organizations a cloud-based system to manage accounting, inventory, CRM, and other core back-office functions under one roof.
But payment processing via NetSuite isn’t as straightforward as you might expect.
There are multiple setups and over a dozen providers that integrate with the software. Plus Oracle doesn’t make it easy for you to quickly find a list of processors that integrate with NetSuite.
The options are far from interchangeable. And for enterprise B2B processing, the difference between one processor and the next could cost you tens of thousands in merchant fees every month.
So whether you’re currently using NetSuite and ready to integrate a payment processor or you’re evaluating the software and trying to understand your options, I’ve reviewed and compared the best options based on our first-hand experience with these processors.
NetSuite Pay vs. NetSuite SuitePayments
There are two ways to set up payment processing via NetSuite:
NetSuite Pay
- Embedded into the software
- Powered by Versapay
- Rates are pre-negotiated (by NetSuite)
- Quicker and easier setup, but the tradeoff is that the rates are more expensive
NetSuite SuitePayments
- Supported via NetSuite partner apps (SuiteApp marketplace)
- You have a direct relationship with the backend processor
- Rates, fees, and contract terms are negotiated by you (not NetSuite)
- This is the way to “bring your own processor” to NetSuite
While NetSuite Pay offers the simplest setup, it’s typically the most expensive option because you don’t have a say in pricing. Even though you technically have a merchant account from Versapay, NetSuite sits in between you and the processor, and the pre-established rates have extra margin built in to ensure both Versapay and NetSuite/Oracle can take their cut.
SuitePayments is by far the best option because it gives you the most control. It doesn’t guarantee that your rates are cheaper (that’s on you to negotiate with the processor), but it ensures you’re in the driver’s seat and that NetSuite doesn’t set your rates.
If you already have a credit card processor, the only way to keep them is by going to SuitePayments. You just need to confirm that your processor is supported through a SuiteApp.
Payment Processors That Integrate With NetSuite SuitePayments
NetSuite’s SuiteApp marketplace has over 700+ apps that can be installed to extend the functionality of your ERP software. Apps can be filtered by business need or industry, but “payment processing” and similar variations aren’t categories that you can select.
I think this is intentional, as NetSuite stands to profit more if you go with NetSuite Pay instead of a third-party processor via SuitePayments. So I did some digging and tested various search terms like “payments” and “gateway” to confirm which processors can integrate with NetSuite.
Here are your options, including some insider knowledge about each one:
Versapay
In addition to powering NetSuite Pay, Versapay is also supported through SuitePayments, and that’s far better than the former. Rather than having NetSuite negotiate rates for you, this setup gives you full control over your merchant account with Versapay.
Versapay is a super ISO that relies on several backend acquirers, including Fiserv, Elavon, and Worldpay. They specialize in B2B payments and these types of enterprise software integrations. Competitive rates are definitely available, though they do command a slight premium for supporting things like Level 3 data submissions and CEDP compliance in NetSuite.
Stripe
Stripe really needs no introduction, as it’s become one of the most popular and developer-friendly processing solutions in recent years. While it’s not necessarily the preferred choice for every enterprise B2B use case, it definitely has its place if you operate on a usage-based SaaS model, multiple global payment channels, or have other complex or custom checkout needs.
The one wrinkle worth pointing out for the NetSuite integration is that the SuiteApp isn’t offered directly from Stripe. Instead, the integration goes through PayPack AI (which truthfully, isn’t something I have a lot of first-hand experience with). But the fact that it’s a partner app on the NetSuite platform and also available on Stripe’s marketplace definitely lends credibility to a brand that’s not well-recognized.
PayPal / Braintree
For those who don’t know, Braintree is owned by PayPal. That’s why this particular partner app allows you to integrate with both solutions from a single installation.
But for most enterprise processing needs, Braintree’s setup and technology is definitely the better option compared to a standard PayPal checkout. Braintree is up there among the best enterprise processing solutions on the market right now.
Adyen
Adyen has been one of my favorite credit card processing solutions for years now. And that’s not an endorsement or superlative that I use haphazardly. The reason is pretty simple: they offer exceptional technology at fair rates, and they almost never increase pricing once you’re set up.
That said, Adyen did recently make some noteworthy acquisitions that could give them a reason to increase margin on existing accounts to recoup the cash they spent. But take that with a grain of salt, as they haven’t done anything yet to indicate that’s going to happen.
Square
The Square Payments plugin lets you integrate all of your existing Square processing features into NetSuite. That includes in-person POS, digital invoices, online sales, BNPL options, gift cards, and more.
It’s obviously a good choice if you’re already using Square. Though I’m a bit surprised it’s available, as Square typically isn’t the preferred choice for enterprise operations. You can ignore this one if you’re already set up with another provider.
Fortis
Fortis is another smaller merchant services provider that focuses on B2B processing and integrated payments (which both fall under the NetSuite umbrella). They’re solid. But you need to keep a close eye on your statement to ensure you aren’t being charged junk fees.
We often catch them overcharging on Amex transactions. Though they’re willing to reduce and waive those excess fees once you’ve called them out on it. Also make sure they put you on a true IC+ plan instead of their monthly membership setup.
Worldpay
Let me start by saying that if you’re already set up to accept card payments with Worldpay, you can (and should) keep them. And you can use NetSuite SuitePayments to do so. That’s the good news.
The bad news is that Worldpay has definitely dropped in quality and service since it was acquired by Global Payments. We’re continuing to see more aggressive billing tactics and bogus fees being applied to our clients in recent months.
So getting fair rates here definitely takes a bit of effort, and if it’s been a while since you’ve audited your statements then there’s a good chance you’re overpaying. But this can all be negotiated without switching.
FreedomPay
FreedomPay is a bit different from the other solutions on the list so far. As opposed to being a direct acquirer, PayFac, or ISO, they’re a payment gateway that extends your integration capability even further.
So if you’re currently using another payment processor that isn’t supported through a SuiteApp in NetSuite, FreedomPay is a simple workaround. Fiserv, Elavon, Moneris, Global Payments, and Bank of America are just a handful of examples of processing solutions that aren’t available as a SuiteApp but work through the FreedomPay gateway.
Just know you’ll pay a little extra for this setup, as FreedomPay needs to take their cut on top of your processor’s markup.
BlueSnap
BlueSnap is a payment orchestration platform that’s built for exactly the kind of setup you need with NetSuite. It’s powered by Payroc, which is a good thing, as Payroc has some of the most transparent statements and pricing that you’ll ever come across.
Rates are reasonable. Though there is a premium for any integrated setup, especially one that’s facilitated via BlueSap. But at least all of the processor-imposed markups will be easy to identify.
Other Options
I’ve consolidated the remaining payment integrations into short bullets, as they don’t apply to many of our clients or readers here at MCC. Though I still want you to know about all of the options at your disposal:
- SecurePay — Payment gateway in Australia that was recently acquired by Fat Zebra (another Australian payment provider).
- AltaPay — European fintech that offers gateway solutions and POS, that’s supported in 20+ markets in Europe with a heavy concentration of merchants in Scandinavia.
- Zoku POS — Offers built-in payment processing directly in NetSuite for retail and restaurant that can be set up through a variety of integrated processors on the backend. But now you’re putting even more layers between you and your processor, which increases costs.
- Eway — Payment gateway in Australia and New Zealand.
- Windcave — Technically available in North America, Europe, UK, and Asia, but we rarely see it here in the US. Most of their merchant base is in Australia and New Zealand.
NetSuite Integrated Payment Processing Rates
Payment processing rates via NetSuite vary by processor. Even businesses using the same processor integrated with NetSuite can pay drastically different rates depending on business type, volume, risk, and how well you’re able to negotiate.
And to be clear, all of the payment processing contracts are handled outside of NetSuite and your software subscription.
While NetSuite is technically involved with the pre-negotiated rates through NetSuite Pay, even those rates are set by Verapay (you just don’t have a say).
For every other processor that integrates via SuitePayments, NetSuite has nothing to do with your processing contract or setting the rates you pay. That’s all done directly through your processor. Just be aware your provider may use the integration as an excuse to charge you a bit more, which is sometimes justifiable if done within reason.
What’s the Best Payment Processor for NetSuite?
For the vast majority of businesses using NetSuite, the best processor is going to be whoever you’re using right now.
I wouldn’t recommend switching processors just to set up an integration with NetSuite.
And fortunately, you probably don’t have to. NetSuite has one of the most extensive processor integration lists in the ERP software space. Even though it’s tough to find exactly which providers are supported (NetSuite makes it hard on purpose to push its own solution), there’s a good chance your existing processor is an option.
If it’s not named directly on the list above, you can likely use one of the gateway solutions that I listed as a workaround.
Then just audit your statements to ensure your processor is still giving you a fair rate. And if that’s not something you can figure out on your own, our team here at MCC can take a look for you.
That said, if you’re starting 100% from scratch with NetSuite and a new processor, I’d go with Adyen, Braintree, or Versapay (in that order).
Though with Versapay, just make sure you’re getting it through the SuitePayments app so you have a direct relationship and have a say in what you’re paying. Avoid the NetSuite Pay option that’s powered by Versapay. Despite coming from the same processor, those should be treated as two completely different solutions.