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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

Gift Card A prepaid card often used at a specific retailer. ACH Bank-to-bank transfers, like direct deposit or bill pay. EFT (Electronic Funds Transfer) Same as ACH, used more often in Canada. Digital Wallet Apps like Apple Pay or Google Pay that store your card. EMV Chip technology on credit cards.

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Understanding the Payment Terminal: Integrated vs. Semi-Integrated vs. Non-Integrated Payment Terminals

Stax

TL;DR A payment terminal enables a merchant to take chip card and contactless payments. There are a variety of payment terminal brands on the market, but the place to start is by looking at the payment terminals your payment processing provider supports. What is a Semi-Integrated Terminal?

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10 Easy Ways to Collect Payments from Customers

EBizCharge

This article will explore ten straightforward methods for collecting payments from customers, highlighting the benefits and practical applications of each. The importance of seamless payment collections A seamless payment collection process is crucial for businesses as it ensures efficiency and customer satisfaction.

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What Is Debit Card Processing & How Does It Work?

Payment Savvy

Consumer Payment Choice, an impressive 85% of adults in the United States use them as a payment method. As the preferred method for many, debit card transactions offer convenience, security, and immediate fund transfers, making them integral to modern commerce.

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Fintech Trending: P2P, EMV, NFC, NLP… OMG

Fintech Labs Insights

With increased competition in the P2P payments industry ( PayPal / Venmo ( FDNY 16 ), Square Cash, Zello), banks are feeling pressure to compete by offering faster delivery of funds. The partnership enables banks to offer funds-transfers a day sooner, or even same-day.

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