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This process is vital for businesses, as it enables them to accept payments through various methods, including credit and debit cards, electronicbank transfers ( EFT/ACH ), and digital wallets. It then sends an approval or denial response back through the card network to the payment processor. Visa, Mastercard).
Processor markup These are fees charged by the payment processor, which is the company that manages and facilitates credit card transactions. This company accepts credit card payments and sends them to the payment network, either through an online paymentgateway or a physical card reader.
Businesses that start a payment processing company act as intermediaries in the payment ecosystem, ensuring transactions are securely and efficiently processed. However, it’s also possible for payment processing companies to provide similar extended services. Choose wisely, and don’t hesitate to contact us for assistance.
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