When it comes to processing online payments in Novi AMS, you have three options to choose from. While most of our customers opt for Novi Pay, Novi's own payment processing service, you are not locked into using it. Novi AMS also supports QuickBooks Payments and Stripe, giving you the flexibility to select the provider that best fits your association’s needs. This article will help you understand the key differences so you can make an informed decision.
Benefits of Novi Pay
Choosing Novi Pay as your payment processing solution offers several distinct advantages:
Seamless Integration and Automation
Novi Pay is seamlessly integrated into your existing Novi AMS workflows, eliminating the need for additional manual processes. This integration ensures:
Automated nightly deposit transactions in QuickBooks, simplifying financial reconciliation.
Smart Invoices for all transactions, enhancing billing efficiency.
Direct embedding of payment details within Novi, streamlining payment tracking.
Enhanced Security with Fiserv
Novi Pay is powered by Fiserv, a Fortune 500 global leader in payments and financial technology trusted by millions of businesses and thousands of financial institutions for secure, best-in-class payment processing.
You’ll get access to a free service through Viking Cloud (SecureTrust) to help complete your annual PCI Compliance paperwork.
Card Account Updater (CAU): Reduce automatic payment disruption due to outdated card information. Fiserv's partnerships with Visa, Amex, Mastercard, etc, allow our CAU service to automatically update credit and debit card information. When a member’s payment information changes because of a card’s expiring or being replaced, the CAU automatically updates the card details.
Dedicated Support from Novi
With Novi Pay, you receive direct support from the Novi customer experience team. This means:
Prompt assistance from people you know.
Regular updates and feature enhancements, keeping your payment system current and efficient.
Competitive Processing Fees
Novi Pay offers cost-effective rates that can lead to significant savings:
Credit Card Transactions: A flat rate of 2.95% +$0.25 per transaction
ACH Bank Payments: 0.75% per transaction
By opting for Novi Pay, you not only benefit from a secure and efficient payment processing system but also enjoy the convenience of integrated workflows and the assurance of dedicated support.
Other Payment Processors
QuickBooks Payments
Similar to Novi Pay, QuickBooks Payments offers automated batch reconciliation, which groups multiple transactions into a single deposit.
* Note: As an integrated option with Novi, QuickBooks Payments processing fees are at the "Keyed-in Cards" rate, when comparing pricing. They consider all API integrations to be at their Keyed-in Card rate.
Stripe Standard
Stripe Standard is a flexible payment processing option for Novi customers, offering a broad range of payment features and global reach.
* Note: Novi's integration with Stripe is the least automated option and requires manual reconciliation.