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As companies transition to online payment platforms, the complexities of payment processingcosts can often lead to unexpected expenses that eat into margins. Understanding these costs empowers businesses to make smarter financial decisions. Thorough research will help your business garner these cost savings.
Keep card networks up and running Large, global infrastructures are required to process massive volumes of transactions safely and efficiently. Card networks must maintain them properly and pay for fraud prevention tech (dataencryption, tokenization, real-time tracking, etc.). Contact us
Whether that is collecting credit card numbers to transmit with a payment gateway, placing details into a shared customer relationship management system, or storing card numbers in an encrypted database—all of this sensitive information must be protected according to the specifics of the PCI-DSS standard.
ACH/eChecks tend to accrue lower fees because they bypass credit card networks by using the ACH network, which applies batch processing to reduce individual transactions, resulting in lower administrative and processingcosts for financial institutions.
EBizCharge and PDI Technologies will offer a pre-built payment integration into PDI Enterprise that uses the EBizCharge proprietary payment gateway to provide credit card processing for merchants. The EBizCharge for PDI Enterprise integration will enhance payment workflows, reconciliation, and ease of use for customers.
Payment automation allows for faster payment processing and invoicing, which can help improve cash flow and reduce the risk of late payments. Payment automation can provide increased security measures, such as dataencryption and user authentication, which can help prevent fraud and unauthorized access to financial data.
The process begins when a player initiates a paymentwhether for deposits, in-game purchases, or withdrawals. Here’s how it works: Encryption & Secure Transmission: The payment gateway encrypts the player’s payment details and securely transmits them to the payment processor.
Let's say you process 10,000 invoices monthly at $10 each. Now consider this: roughly a third of businesses surveyed were able to reduce invoice processingcosts even more: a whopping 50%. A shorter processing time can indicate a more efficient process. That's roughly $300,000 saved annually.
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