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

Stax

The company facilitates the transfer of information and funds between the customer’s bank and your business’ bank. It also ensures that data security best practices, particularly PCI DSS (Payment Card Industry Data Security Standards) requirements , are followed to the letter to prevent any breach or loss of sensitive customer data.

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The Top Payment Methods For Small Businesses

Stax

It will use magnetic secure transmission (MST) to transmit the relevant data when the smartphone is held at close range (a few centimeters usually) or tapped to your card reader. And with a big chunk of shoppers choosing this payment method, small businesses should strongly consider contactless payments to stay competitive.

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Mastering Payment Effective Dates: Key Insights for Businesses

EBizCharge

While payment timelines can vary depending on the financial institution and transaction type, business days are typically when most payment activities occur since most don’t process payments on weekends or public holidays. For example, ACH payments have an effective date of two to three business days post-transaction.

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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Batch A group of transactions that are processed together at the end of a business day. D Debit Card A payment card that enables the cardholder to withdraw funds from their bank account or make purchases with funds available in the account.