0
A terminal used for electronic processing of payment transactions in a retail outlet?
Wiki User
∙ 9y ago
POS or Point Of Sale.
Wiki User
∙ 15y ago
Wiki User
∙ 9y agoHdfc and any other bank account.
Add your answer:
Earn +20 pts
What is Electronic Check Payment Processing?
Echeck payment processing is an electronic payment method that allows individuals and businesses to conduct transactions using digital versions of traditional paper checks. Instead of physically writing and mailing checks, eCheck payment processing facilitates the transfer of funds directly from the payer's bank account to the payee's account through the Automated Clearing House (ACH) network.
What does credit cards processing mean?
Credit card processing describes the payment and acceptance of a credit card for payment of goods and services. The merchant usually sends the credit card number to the issuing company through an electronic terminal. The issuing company then sends a code back instantly either allowing payment to be received or declining payment.
What is the purpose of ACH payment processing?
Automated Clearing House (ACH) payment processing is an electronic and instant form of bank fund transfer. It is the process used in direct deposits (for paychecks, benefits, etc.) as well as for instant debit transactions, such as one would use for an Internet based purchase.
Does Marshall's use certegy or telecheck?
Marshall's accepts both Certegy and TeleCheck as forms of payment for their transactions. Both services provide electronic check processing and verification to help prevent fraudulent activity.
How DO eBay online payment processing system?
This is a online shopping site. They use paypal for transactions.
How does debit card processing work?
Debit card processing works by using a PIN number. The user swipes their cards, enters their PIN number, and payment is immediately deducted from the users account. The terminal communicates with the bank, which then verifies that there are adequate funds for the transactions. If there are, the transaction is authorized and the money is deducted.
Do I need a certification before I add electronic payment processing to my business?
You normally don't need a certification to add electronic payment processing. Most of it is just done throught the bank and you can have a back up incase you did not make enough money for payroll.
What system supports the payment of commercial vendor and provides support for standard electronic data interchange transactions?
IAPS
What is meant by the term payment terminals?
A Payment Terminal refers to the keypad and LCD monitor device used by many business to allow credit and debit card transactions. Usually the credit or debit card is "swiped" through the terminal, and instructions for completing the transaction are given on the screen and by the cashier.
Does Fred's use telecheck?
Yes, Fred's uses TeleCheck for processing check payments. TeleCheck is a payment processing company that provides check verification services to businesses to help prevent fraudulent transactions.
How to Process Payments Electronically?
Electronic payment processing is taking the world over with storm due to the many people out there who are still credit card-less or don’t like to use them. ACH payment processing is a safer and a more reliable way to make a significant impact in the market. Electronic payment processing is more efficient, therefore a more profitable, method to process payments than the “traditional” methods. Among the most common misperceptions concerning payment processing are that 1) processing payments manually is efficient, 2) Is cost effective. Electronic payment processing is virtually non-existent, occurring only in the government sector and few Blue Cross carriers. This results in a huge number of payments still being disbursed using antiquated mail methods. Electronic payment processing services greatly reduce or can even eliminate delays in payment. More importantly, customers can’t change their mind and deny you your payment for services, because they pay upfront and on the spot. Some of these services include; electronic acceptance of credit, debit cards, gift and loyalty cards, and a variety of different types of checks. Accepting credit card payments has never been any easier. Interested in offering these types of services, and more? Research electronic payment processing in order to locate the best processor for your line of business. Learn more how electronic payment processing can assist you in developing a residual income based cash flow management services business. Business owners can pay up to twice as much for check fraud--the checks’ face value and bank fees for depositing counterfeit checks has risen considerably over the years. In the midst of these changes, and to try to eliminate fraud, laser check printing systems have been introduced and their use and success has grown significantly. With this new technology, there is going to be changes in the internal control systems surrounding electronic payment processing by businesses. Business financial statements and bookkeeping records dramatically improved with the use of electronic payment processing.
Which banks provide Electronic Check processing?
Moneris is one of the leading payment processing companies in Canada. Other companies include Newtek, Payment Plus Inc., Cyber Source and Wells Fargo.
