Remove CRM Remove Encryption Remove Settlement
article thumbnail

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

Stax

Payment gateway – The service that encrypts and securely sends payment details from the customer to the payment processor and back to the merchant. Payment information is encrypted and sent for authorization – The payment gateway encrypts and sends the payment details to the payment processor.

Process 88
article thumbnail

Looking for the Best Payment Gateway? Here’s How to Choose the Right One

Stax

Ensure the gateway offers PCI DSS compliance, encryption, tokenization, and fraud prevention tools to safeguard transactions. The payment gateway collects and encrypts sensitive customer payment details and then securely sends them to the payment processor. This is known as the settlement time.

article thumbnail

The Anatomy of a Credit Card Transaction

Clearly Payments

It occurs in a matter of seconds but consists of multiple stages, from authorization to settlement. 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. Credit Card Use Overview in USA and Canada In the U.S.,

article thumbnail

Credit Card Merchant Services: What to Look for (and What Most Businesses Miss)

Stax

Payment gateway – A secure system that transmits encrypted transaction data between your website or terminal and your processor. Some solutions also offer flexible settlement schedules and real-time funding, helping you stay ahead of cash flow crunches. It also gives you a more complete picture of your business in real time.

article thumbnail

How To Integrate a Payment Gateway into Salesforce

EBizCharge

Popular customer relationship management (CRM) platforms like Salesforce continue to streamline these operations with robust sales, marketing, and service tools, making the ability to process payments directly within this system the cherry on top. When your payment system and Salesforce CRM are in harmony, workflow becomes more efficient.

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. Settlement (1–3 Business Days Later) At the end of the day, your processor batches all approved transactions and sends them for settlement.

article thumbnail

What Are Virtual Terminals? A Guide for Businesses

EBizCharge

Secure payment processing: Data encryption ensures that credit card details and payment data are secure, reducing fraud risk. Improved cash flow: Virtual terminals can deliver faster payment processing and settlement, helping merchants maintain and increase cash flow.