Business Day Chip Cards Encryption 
Stax
NOVEMBER 14, 2024
Step 6: At the end of the month, the statement is sent to the business that details the interchange for all transactions that month–which is the fee set by credit card companies for merchants to accept their cards as payment. Typically, card transactions are authorized in less than a minute.
Clearly Payments
MAY 22, 2025
Next-Day Funding Receiving funds in your account the next business day. Same-Day Funding Receiving funds the same day a transaction is settled. Terminal A card reader that processes physical payments. Tokenization Replacing card data with a secure, unique token. businesses and freelancers.
Clearly Payments
DECEMBER 2, 2024
The terminal communicates with the card issuer to approve the payment. Once approved, the funds are transferred to the business’s merchant account, typically within 1–3 business days (same day or next day with Clearly Payments ). How It Works Customers enter their card details during checkout.
Stax
APRIL 18, 2024
At the end of the business day, the merchant batches all authorized transactions and submits them to the acquiring bank for settlement. The acquiring bank then deposits the funds into the merchant’s account, typically within a couple of business days. This marks the completion of the credit card payment process.
Payment Savvy
JULY 3, 2024
This response is sent back through the card network to the acquiring bank, which then communicates the result to the merchant. Clearing and Settlement At the end of a business day or a predetermined period, the merchant batches all approved transactions and submits them to the acquiring bank for settlement.
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