Remove CRM Remove Encryption Remove On-Demand
article thumbnail

What is a Payment Processing System and How Does It Work?

Stax

To address evolving customer demands and accept electronic payments, you need a payment processing system. Payment gateway – The service that encrypts and securely sends payment details from the customer to the payment processor and back to the merchant. billion transactions and $9.76 trillion in value.

Process 88
article thumbnail

The Complete Guide to Merchant Services for Small Business Owners

Stax

They enable secure, efficient in-store and online payment processing and offer flexible payment options that customers demand today. inventory, CRM, and accounting software). These capture, encrypt, and transmit the customers payment details from the eCommerce website to the payment processor. Payment gateways.

article thumbnail

The Ultimate Guide to Ecommerce Payment Solutions

Stax

The details are then encrypted and transmitted to a third-party payment gateway for authorization. Like most business owners, your instincts tell you to hop on the bandwagon and launch an online store for your business. Its like a duck floating on water. Its the bridge between an eCommerce website, its customers, and the bank.

article thumbnail

What is Click to Pay and How Does It Work?

Stax

The payment system was introduced in 2019 by the major card schemes, including Visa, American Express, Mastercard, and Discover in response to the demand for a more standardized, frictionless, and secure online payments regime.

article thumbnail

How To Find the Best Payment Gateway for Your Business in 2025

EBizCharge

Overall, the payment gateway acts as a secure bridge that encrypts sensitive data, such as credit card details, to ensure the transaction is processed safely and efficiently. Strong encryption builds trust with customers and reduces the risk of data breaches. Fraud detection and prevention are critical features of a payment gateway.

article thumbnail

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. It collects payment data, secures sensitive information, and connects all parties needed to move money from your customer’s bank to yours.

article thumbnail

The Top Payment Methods For Small Businesses

Stax

You also need a payment services provider that supports your chosen payment methods, but that providers platform must integrate seamlessly with your existing CRM, ERP, payroll, CMS, and accounting software systems. Its role is to encrypt and securely transfer your customers payment data to your payment processor.