My Payment Savvy

JUNE 16, 2025

This tokenization keeps the sensitive card information off your servers, reducing the risk of a data breach and easing PCI DSS compliance. Settlement (1–3 Business Days Later) At the end of the day, your processor batches all approved transactions and sends them for settlement.

Payment Gateways

Clearly Payments

DECEMBER 2, 2024

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 ). E-Commerce Businesses: Online businesses require a robust payment gateway that integrates seamlessly with their website.

Credit Cards

Stax

DECEMBER 27, 2023

When a transaction takes place, the payment arrives first in the merchant account before being transferred to the business owner’s business checking account. It usually takes one to two business days before these funds are available to the business, though some payment processors may offer same-day deposits.

Accounts

PayHawk

APRIL 18, 2023

Batch A group of transactions that are processed together at the end of a business day. Credit Report A report that details the credit history and creditworthiness of an individual or business. Currency Conversion The process of converting the transaction amount from one currency to another.

Process

Stax

JULY 9, 2024

This can include peer-to-peer payments, and business-to-business (B2B) or business-to-customer (B2C) transactions. The EFT payment market is a multi-billion dollar industry, forecasted to reach over 100 billion by 2028. There are several EFT payment types that we’ll discuss in this post.

Electronic Fund Transfer Act (EFTA)