SALESFORCE BILLING - Digital Wallets & Alternative Payment Methods
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THE GOAL: 🏆
In this video you will learn how to use Alternative Payment Methods and Digital Wallets with Salesforce Billing.
BEFORE YOU BEGIN, KNOW THE FACTS:
Alternative Payment Methods, or APMs, are anything that isn't cash, card or bank account, including:
1. Digital Wallets
2. Gift Cards
3. Bartering
4. Gold Bullion
5. Rare Coins
6. Pay-By-Cell-Phone-Bill
7. Cryptocurrencies
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HOW COMMON ARE ALTERNATIVE PAYMENT METHODS?
1. Different methods have different rates of growth.
2. Most are niche today.
3. At Chargent, we track them so we're ready when you are.
DIGITAL WALLETS 💰
Digital Wallets are good for e-commerce, Customer Communities or invoice payments because they reduce friction in the payment process.
This include:
1. Zelle
2. Skrill
3. Venmo
4. PayPal Express
PAYPAL EXPRESS
1. PayPal is a big Chargent partner.
2. We're working to integrate this better with Salesforce.
VENMO
1. Millennials and Generation Z use Venmo a lot.
2. Retail should to consider taking payment from Venmo.
CHARGENT IS PAYMENT AGNOSTIC
1. At Chargent, we're also payment method agnostic.
2. We want you to take payments in the way that it makes sense for your organization and your customers.
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EXAMPLE:
Let's say that you've decided to take an alternative payment method in Salesforce Billing.
1. It's pretty straightforward.
2. You need to create those Salesforce Billing payment and payment allocation records.
3. These will tie your payments back to your invoices in Salesforce billing.
4. If the alternative payments systems has reporting functionality, you can download that report.
5. Then use something similar to the Salesforce Billing lockbox function to automate the process.
RESULTS:
Now you know how to use Alternative Payment Methods and Digital Wallets with Salesforce Billing.
#Chargent #SalesforcePayments
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