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What is a Payment Gateway? Definition, Benefits, Features & More
Accepting payments has become increasingly complex due in part to the rapid growth of online and mobile experiences, the popularity of digital wallets and an increase in recurring or subscription services. Powering all the interaction points throughout a transaction’s lifecycle requires an expanding array of technologies and networks to securely connect point-of-sale (POS) systems, websites, payment processors, bank accounts and card brands. A crucial part of the equation is the Payment Gateway. You may have casually heard the term and are wondering “What is a Payment Gateway?” or “How is it different from a Payment Processor?” This article answers those questions and takes a deeper dive into important features and benefits to help you decide what type of payment gateway is best for your business.
PayJunction Team
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How To Manage the Cost of Payments When Interchange Rates Increase
The four card brands—American Express, Discover, Mastercard and Visa—assess Interchange fees on card payments to compensate the card-issuing banks for processing transactions. Fees are typically reviewed and adjusted once or twice a year, in April and October. In 2020, due to the COVID-19 pandemic, the card brands suspended most practices so as not to further burden businesses hit with closures, labor, supply chain issues and other challenges.
PayJunction Team
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EMV Chip Card Readers: A Complete Guide
Go ahead, open your wallet. Chances are that your credit and debit cards feature a square “chip” on the front that gets inserted into an EMV Card Reader to make a payment. It may also have a symbol that resembles a “signal” that is “tapped” on an EMV Card Reader to make a payment. And it likely still has a magnetic strip on the back that is swiped through a payment terminal that is not equipped to read EMV chip cards.
Ursula Librizzi
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4 Ways to Increase Customer Trust With Your E-commerce Checkout Process
Your e-commerce checkout is the climax of your marketing, advertising, and acquisition efforts. A good checkout process secures your sales at the most crucial point, so it must inspire customer trust and confidence.
Jake Rheude
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Accept ACH Payments: The Complete Guide
What is an ACH Payment? As a consumer, you have likely made payments via ACH, even though you may not be familiar with the acronym. ACH stands for Automated Clearing House, which is the official network connecting US banks to the Federal Reserve. Electronic payments can be made directly from a bank account (ACH debit) using the routing and account numbers. ACH is also called an “electronic check” or “E-check.” It is typically used for bills, invoices, utility payments, and tax payments. ACH is also the method most commonly used for the direct deposit of paychecks (ACH credit).
PayJunction Team
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Chargeback Management Lessons that Businesses Need to Learn From 2021
I get it. As a business owner, there are a lot of matters demanding your attention right now.
Monica Eaton-Cardone
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