Remove Online Documents Remove Payment Initiation Remove Payment Service Provider (PSP)
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What is a Payment Service Provider (PSP) and How Do They Work?

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For example, the charges for a credit card payment online will be different from the charges for an in-person credit card payment. Also, the processing rates for a debit card payment will be different from the processing rates for an ACH transfer.

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Credit Card Processing for Small Business: Everything You Need to Know

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We have broken down the process into three key steps below: Payment initiation This first step is triggered when your customer pays for your goods or services using a credit card. The issue here is that each chargeback attracts a fee that will be paid by your business, and the more chargebacks you get, the more you lose funds.

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