Epicor
Epicor is a comprehensive enterprise resource planning (ERP) solution that integrates robust payment processing capabilities tailored for manufacturers, distributors, retailers, and service providers. Through its proprietary Epicor Payment Exchange (EPX) and Payment Gateway, Epicor offers a seamless, secure, and cost-effective payment ecosystem designed to streamline financial operations and enhance customer experiences.
Overview of Epicor’s Payment Solutions
Epicor’s payment infrastructure is built around two core components:
- Epicor Payment Exchange (EPX): A full-service payment processor developed by Epicor, EPX handles credit and debit card transactions, including authorization, settlement, and reporting.
- Epicor Payment Gateway: This gateway facilitates secure connections between Epicor’s ERP systems and payment processors, ensuring efficient transaction processing and data security.
Together, these components provide an integrated payment solution that reduces the need for third-party systems, minimizes errors, and simplifies compliance requirements.
Key Features and Benefits
Integrated Payment Processing
Epicor’s payment solutions are fully integrated into its ERP platforms, including Epicor Kinetic, Prophet 21, and Eagle. This integration offers:
- Automated Workflows: Streamlines order-to-cash processes by automating payment tasks within the ERP system.
- Real-Time Data Synchronization: Ensures that payment information is updated across all relevant modules, enhancing accuracy and visibility.
- Reduced Manual Entry: Minimizes the need for duplicate data entry, decreasing the likelihood of errors and saving time.
Cost Efficiency
By utilizing EPX, businesses can benefit from:
- Predictable Pricing: Straightforward, transparent fee structures without hidden charges.
- Volume Discounts: Access to competitive rates due to Epicor’s processing volume.
- Elimination of Third-Party Fees: Avoids additional costs associated with external gateways and processors.
Enhanced Security and Compliance
Epicor prioritizes data security and compliance through:
- PCI DSS Compliance: Ensures adherence to Payment Card Industry Data Security Standards.
- Tokenization and Encryption: Protects sensitive cardholder data by storing tokens instead of actual card information.
- Simplified SAQ Process: Offers tools to ease the completion of Self-Assessment Questionnaires for compliance verification.
Comprehensive Reporting and Analytics
Epicor provides robust reporting tools, including:
- Payment Manager: A web-based dashboard offering real-time access to transaction data, settlement reports, and funding details.
- AccessOne®: Enables users to view detailed reports on posting, billing, and interchange fees, facilitating financial analysis and forecasting.
Flexible Deployment Options
Epicor’s payment solutions cater to various business needs with:
- Mobile Payment Capabilities: Supports transactions via iOS-powered devices, allowing sales on the go.
- eCommerce Integration: Seamlessly connects with Epicor Commerce Connect for online sales.
- Support for Multiple Currencies: Processes payments in USD and CAD, accommodating businesses in the U.S. and Canada.
Industry Applications
Epicor’s payment processing solutions are designed to serve a wide range of industries:
- Manufacturing: Streamlines complex billing and payment processes across supply chains.
- Distribution: Enhances cash flow management and reduces payment processing times.
- Retail: Offers integrated POS systems for efficient in-store transactions.
- Automotive: Facilitates quick and secure payments for parts and services.
- Building Supply: Manages high-volume transactions with ease and accuracy.
Integration with Third-Party Solutions
While Epicor’s native payment solutions offer comprehensive features, the platform also supports integration with third-party payment gateways, such as EBizCharge. These integrations provide additional functionalities like email payment links, customer payment portals, and advanced fraud prevention tools, offering businesses flexibility to choose solutions that best fit their specific needs.
Conclusion
Epicor’s integrated payment processing solutions deliver a secure, efficient, and cost-effective approach to managing transactions within its ERP systems. By consolidating payment processing into a single platform, businesses can enhance operational efficiency, ensure compliance, and improve customer satisfaction.
For organizations seeking a comprehensive payment solution that aligns with their ERP system, Epicor offers a robust and scalable option that adapts to various industry requirements.
Frequently Asked Questions (FAQs)
What industries does Epicor primarily serve?
Epicor focuses on providing solutions for Business-to-Business (B2B) sectors. Its primary industry focus includes manufacturing and mining, retail, and transport and logistics operations.
Which payment methods does the Epicor platform support?
The platform accepts a wide range of payment types including cards, ACH bank transfers, eChecks, and digital wallets. Supported schemes include Visa, Mastercard, American Express, Discover, PayPal, Apple Pay, and Amazon Pay.
Can Epicor handle recurring billing and subscriptions?
Yes, Epicor supports recurring billing and subscription models. The system also offers capabilities for one-click checkout, saved cards, and invoicing and billing tools to manage merchant cash flow.
Is Epicor compliant with security standards?
Epicor maintains compliance with PCI DSS and GDPR standards. To ensure transaction security, the platform utilizes tokenization and includes built-in risk management features such as fraud prevention and chargeback management.
Does Epicor support international transactions?
Yes, the provider supports global payments and multi-currency transactions. It operates across regions including North America, Europe, Asia, and Oceania, covering countries such as the United States, United Kingdom, Australia, and China.
What acceptance channels are available through Epicor?
Merchants can accept payments through multiple channels. These include In-Store Point of Sale (POS) systems, Online (Web) checkout interfaces, and MOTO / Virtual Terminals for remote transactions.
How can developers integrate with the Epicor payment gateway?
Developers can connect to the system using Web Services APIs or a Hosted Payment Page. The API accessibility is defined as Quasi-Public, allowing for specific integration requirements.
What third-party software integrates with Epicor?
Epicor integrates with several third-party platforms to streamline business operations. Supported integrations include Magento (Adobe Commerce), BigCommerce, QuickBooks, Modern Retail, and Astro Loyalty.