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Transaction settlement: After a payment is authorized, the merchant account facilitates the settlement process. This involves transferring the approved funds from a customer’s bank to the merchant’s account, usually within one to two businessdays. How do payment gateways work?
The customer then invoice receives the invoice, verifies its accuracy, and submits payment to the vendor. It may seem that way, but in reality, 66% of businesses say that they spend more than five days per month processing invoices. Is there a customer with outstanding payments or continued paymentissues?
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