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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 Select the Best API for Integrated Payments
An API, or application programming interface, is a set of protocols and tools that let different types of software interface with each other. Developers use APIs to quickly add new features to their software. Payment service providers like PayJunction publish APIs that allow software providers and developers to easily add credit, debit and ACH payments within their core software for in-person and online acceptance.
PayJunction Team
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ACH Payment Processing: Everything You Need to Know
What is ACH Payment Processing? ACH payment processing is the banking industry’s definition of moving money between bank accounts in the United States. ACH stands for Automated Clearing House and the ACH network of financial institutions is responsible for the movement of funds. It is managed by Nacha, the organization that sets and enforces the Rules for ACH. The physical network that processes transactions is run by the ACH Operators, notably, the Federal Reserve and The Clearing House.
Ursula Librizzi
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Omnichannel Payments Streamline In-store, Online, and Invoice Payments
What Does Omnichannel Payments Mean? Omnichannel payments is a big phrase for what essentially means the ability to use one solution platform to accept payments from customers any way they want to pay: in-person, online, in a shopping cart, via email or postal mail, over the phone, on a mobile device, or as part of recurring payment and subscription plans.
PayJunction Team
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Credit Card Authorization vs. Pre-Authorization
In the payment processing industry there is a ton of jargon used interchangeably, and sometimes done so incorrectly. As a business owner processing credit cards, it is important you know what these terms mean so you use them correctly if a customer asks.
Ursula Librizzi
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What Is PCI DSS?
PCI DSS stands for the Payment Card Industry Data Security Standard. Any business or organization that processes, stores or transmits cardholder data is required to adhere to PCI DSS. The credit card brands (Visa, MasterCard, Discover and Amex) created these security standards to prevent fraud and instate industry-wide standards.
Christina Lavingia
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