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The Complete Guide to Merchant Services for Small Business Owners

Stax

They also integrate with business management tools (e.g., inventory, CRM, and accounting software). These capture, encrypt, and transmit the customers payment details from the eCommerce website to the payment processor. This encryption turns data into an unreadable format to prevent fraud and security breaches.

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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. Software solutions that integrate inventory management, reporting, and customer relationship management (CRM). Final Confirmation 0.5

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Choosing the Right Payment Gateway for Your Specific Business Needs

My Payment Savvy

Data is Encrypted & Tokenized Immediately after submission, the payment gateway encrypts the card data and replaces it with a token—a random, one-time-use ID. Settlement (1–3 Business Days Later) At the end of the day, your processor batches all approved transactions and sends them for settlement.

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Credit Card Processing for Small Business: Everything You Need to Know

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Once your customer enters credit card information on the checkout page of your website, your payment gateway will encrypt the information and forward it to your payment processor for authorization and settlement. It serves as a link between your website and your payment processor.

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The Top Payment Methods For Small Businesses

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Choosing to accept payment methods outside the preferences of your customers could mean losing business to competitors and getting it right will mean happy customers, increased revenues, and more sales opportunities. Its role is to encrypt and securely transfer your customers payment data to your payment processor.

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The Different Ways a Business Can Accept Credit Cards

Clearly Payments

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 ). The payment gateway encrypts the data and securely transfers it to the card issuer for approval.

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How to Select the Best POS System for Small Business

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Sales Reporting and Analytics Provides comprehensive insights for better business decisions. Includes data on sales trends, most popular products, busiest times of the day, and best-performing employees. Customer Relationship Management (CRM) Saves customer contact details, preferences, and purchase history.