Remove Due Diligence Remove Payment Gateways Remove PCI DSS
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Credit Card Processing for Small Business: Everything You Need to Know

Stax

TL;DR Credit card payment processing encompasses the series of activities that enable your small business to accept credit card payments from customers and facilitate the transfers of relevant funds from the buyer’s bank account to your business account. A payment gateway or an eCommerce CMS like Shopify will suffice for you.

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What is a Payment Gateway and How Does It Work?

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A payment gateway is a must-have for online stores. In fact, research from 2023 shows that 69% of Americans said they’ve used a digital payment method in the past 3 months when making a purchase. And the best way for online businesses to start accepting payments is with a payment gateway.

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What are Merchant Accounts and How Do They Work?

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Moreover, many merchant accounts today come bundled with a payment gateway, another crucial component of the online payment process that streamlines transactions and protects against fraudulent activity. This is especially common for high-risk accounts, as more vetting and due diligence are typically required.

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Understanding Risk Management Strategies as a PayFac

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Not only must PayFacs safeguard themselves and their clients against potential threats like fraud or cybersecurity breaches but also ensure PCI compliance , customer due diligence, and adherence to card regulations. However, you must ensure that all systems comply with security standards such as PCI DSS.

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AI Merchant Payment Processing: The Battle for a Secure Processor

Segpay

Whether it is to accept subscription fees for AI-powered software, micropayments for API calls, or licensing fees, AI companies need to partner with a secure payment service provider. Payment processors, PSPs, acquiring banks and payment gateways operate under strict regulations.