article thumbnail

What is a Payment Processing System and How Does It Work?

Stax

Payment processing systems help merchants accept various types of payments, such as credit and debit cards, automated clearing house (ACH) , electronic funds transfers (EFTs), digital wallets, mobile payments, and even cryptocurrencies. Cost structure All payment gateway providers charge transaction fees.

Process 88
article thumbnail

How GDP Trends Impact the Payments Industry

Clearly Payments

Businesses prioritized ACH or EFT and low-fee payment rails to preserve cash. Why This Matters to CFOs and Payment Leaders For CFOs, monitoring GDP is more than just following headlines, it’s about anticipating shifts in cash flow, payment volume, and cost structures. Investment timing for upgrading or scaling payment systems.

article thumbnail

How To Find the Best Payment Gateway for Your Business in 2025

EBizCharge

In addition to keeping up with emerging trends, its also important to consider key factors like cost structures and integration capabilities when choosing your payment gateway. Its robust payment integrations with accounting/ERP, CRM, and eCommerce systems ensure a smooth and user-friendly payment process.

article thumbnail

How Do You Offset Credit Card Processing Fees?

EBizCharge

Encourage alternative payment methods Encouraging alternative payment methods can significantly offset credit card processing fees since debit cards, Automated Clearing House (ACH)/eChecks, and other options are typically more cost-effective.

article thumbnail

B2B Payments Explores An Alternative Path To ACH Adoption

PYMNTS

The other strategy is to migrate to another payment rail, likely Automated Clearing House (ACH), which is quickly climbing the B2B payment ranks. Yet both of these strategies require a third-party service provider to facilitate payment processing, whether funds are coming in via check or ACH. The Check-To-ACH Migration.

ACH 52
article thumbnail

How Virtual Cards Can Live Up To Their Faster Payments Promise

PYMNTS

Among the most pervasive is that wire, ACH and check acceptance are free, whereas cards, and the interchange fees associated with them, are expensive — particularly when accepting those virtual card payments does not come with a corresponding acceleration of when payments are received. Delivering What Was Promised.

article thumbnail

Equipping Disaster Workers With Card-Based Financial Tools

PYMNTS

Workers make contracts with vendors and pay through wire and ACH if an operation becomes long term, he added. It allows our teams who do financial planning to really understand our cost structures, so we can accurately predict what it’s going to cost us going forward,” Dyson said. Managing Emergency Money.