Payment Processing
Payment processing refers to the entire cycle of receiving and verifying payments from customers for goods or services. It involves various activities such as capturing payment information, authorizing transactions, and settling funds. Payment processors act as intermediaries between merchants and financial institutions, ensuring secure and seamless payment transactions. They play a vital role in facilitating online transactions, enabling businesses to accept multiple payment methods, and ensuring compliance with industry standards and regulations. Effective payment processing solutions are crucial for businesses to offer convenient and reliable payment options, enhance customer satisfaction, and streamline their financial operations.