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Looking for the Best Payment Gateway? Here’s How to Choose the Right One

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Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions. The payment gateway collects and encrypts sensitive customer payment details and then securely sends them to the payment processor. Learn More What is a Payment Gateway?

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The Ultimate Guide to Ecommerce Payment Solutions

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They can range from traditional payments, such as credit/debit cards and ACH payments , to modern alternative methods, such as digital wallets, mobile transactions, Buy Now Pay Later (BNPL), and cryptocurrency. The details are then encrypted and transmitted to a third-party payment gateway for authorization.

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The Anatomy of a Credit Card Transaction

Clearly Payments

Merchant Sends Transaction Request : The merchant’s POS system or online payment gateway encrypts and transmits the transaction data to the acquiring bank or payment processor. PCI DSS Compliance : Merchants and payment providers must adhere to Payment Card Industry Data Security Standards (PCI DSS) to protect cardholder data.

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The Top Payment Methods For Small Businesses

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TL;DR You get to choose from traditional payment methods like cash and checks, online payment methods like digital wallets and ACH transfers, and emerging payment methods like BNPL services and cryptocurrencies. Its role is to encrypt and securely transfer your customers payment data to your payment processor.

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Beyond the Firewall: Rethinking Payment Data Security

Finextra

Why Traditional Defences Fall Short Historically, businesses have relied on layered security controls like encryption, firewalls, and access policies to protect payment information. Standards like PCI DSS don’t currently mandate tokenisation for bank details, but forward-thinking organisations aren’t waiting for legislation to catch up.

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The Ultimate Guide to Online Payment Processing

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There are six main payment methods used in online payments, including credit & debit cards, digital wallets, ACH & bank transfers, direct debit, Buy Now, Pay Later (BNPL) services, and cryptocurrencies. Popular BNPL service providers include Klarna, Afterpay, and ClearPay.

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

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Payment gateway – The service that encrypts and securely sends payment details from the customer to the payment processor and back to the merchant. Payment information is encrypted and sent for authorization – The payment gateway encrypts and sends the payment details to the payment processor.

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