Posts Tagged ‘eCommerce Merchant’
How Does the Electronic Payment Processing Cycle Actually Work?
Key Takeaways Key Players: Merchants, customers, online payment gateways, payment processors, card associations, issuing banks, and acquiring banks. Merchant Account: Obtained from an acquiring bank to facilitate electronic payments. Customer Role: Authorizes the transaction by presenting a card for payment. Online Payment Gateway: Channels card details to acquiring banks and ensures security. As a business…
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