The MCA Suite team has made a number of payment integration enhancements over the past few months to help funders improve tracking of merchant cash advance deals. Enhancements were made to MCA Suite’s integration with ACHWorks and USAePay gateways, which include:
For funders using ACHWorks to debit their merchants’ accounts for cash advances (Right to Receive or RTR) and fees, we have implemented the following enhancements:
1. Daily emails to notify funders of when the transactions have been sent from MCA Suite to ACHWorks and alerts on failed transactions.
2. An option to allow one-time payments made to merchants (either debits or credits) either to affect the amount outstanding of each deal or have no impact on repayment. This is important to funders when they charge merchants on NSF fees and other related services.
For clients using USAePay’s virtual terminal or its API via MCA Suite to collect repayments from merchants, there is no way to schedule daily collections based on five working days, i.e. omitting weekends. USAePay virtual terminal and API can only schedule daily remittance, which means the merchant will be debited three (3) times on Monday evening because Saturday and Sunday are not working days. Based on our clients’ requests, we have implemented a method to allow funders to set up a five-day collection schedule from merchants via MCA Suite’s USAePay integration interface.
We will continue to make MCA Suite more integrated with our partners to help our clients improve their operations. We look forward to your feedback and suggestions to improve MCA Suite via our email, Twitter handle or Facebook page.