Remove Data Security Remove PCI DSS Remove Reconciliation
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Escrow and Trust Accounts in Legal Payment Processing

Clearly Payments

Common mistakes include: Commingling client funds with the firm’s own money Withdrawing fees before they are earned Failing to keep detailed records and reconciliations Clearly Payments helps law firms stay on track by enforcing trust account separation and providing clear audit trails.

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The Anatomy of a Credit Card Transaction

Clearly Payments

Tokenization : Converts sensitive card data into a unique token, reducing the risk of data breaches. 3D Secure Authentication : Adds an additional verification step for online transactions, such as a one-time password (OTP) or biometric authentication. The merchant is notified and can provide evidence to refute the dispute.

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Tokenisation 2.0: Are we ready for the next generation of payment security?

The Payments Association

Moreover, network tokenisation reduces the regulatory burden by eliminating the need to store sensitive card data, supporting the Payment Card Industry Data Security Standard (PCI DSS) compliance and lowering the risk of data breaches.

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NetSuite Payments: Your Guide to Processing Credit Cards

EBizCharge

Additionally, it includes security features such as tokenization, encryption, and fraud prevention tools to ensure compliance with Payment Card Industry Data Security Standards (PCI DSS).

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NetSuite Payment Methods: The Collection Tools That Actually Work

EBizCharge

The chosen payment solution should seamlessly integrate with NetSuites accounting, invoicing, and reporting tools to streamline reconciliation and cash flow management. A well-integrated payment gateway simplifies transactions in NetSuite by automating payment acceptance, reconciliation, and reporting.

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Choosing the Right Payment Gateway for Your Specific Business Needs

My Payment Savvy

It collects payment data, secures sensitive information, and connects all parties needed to move money from your customer’s bank to yours. Unlike payment processors, which handle backend money transfers, payment gateways focus on securely capturing payment methods.

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

Stax

They require manual entry or separate reconciliation. On top of that, payment service providers have stringent security measures to protect sensitive transaction data. The high-level data security strategies and protocols give you a secure environment to receive payments without compromising customer data.

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