Terms

Payment Processors

What are Payment Processors?

A payment processor is a company or service that facilitates electronic transactions, such as payments made with credit cards, debit cards, or digital wallets, between businesses and their customers. They enable businesses to accept various forms of payment securely and quickly, handling the logistics of moving card data between customers, payment networks, and banks. Payment processors play a crucial role in ensuring transactions are completed efficiently and securely, while also providing support for multiple currencies and popular local payment methods to facilitate global business operations.

How Payment Processors Work

  • Payment processors work by securely transmitting transaction details between parties, ensuring the customer has sufficient funds and verifying their identity.
  • They use encryption and comply with PCI DSS for data security, coordinate the transfer of funds, and credit the merchant account.
  • Additionally, payment processors provide data for business insights, monitor transactions for fraudulent activity, assist in handling disputes, and support multiple currencies and payment methods for global transactions.
  • Popular payment processors include Stripe, Helcim, Square, Shopify POS, and PayPal, each with its own fees and offerings.
  • Modern payment processors often use a software-as-a-service (SaaS) model, offering regulatory compliance and a single electronic portal for various transactions, reducing costs and improving transaction quality.
  • Future trends in payment processing include the rise of vertical-specific processors, accelerated adoption of contactless payment methods due to COVID-19, and a movement towards customer choice and autonomy in payment options.

Examples of Payment Processors

Examples of popular payment processors include Stripe, Helcim, Square, Shopify POS, and PayPal. Each processor has its unique offerings and features, catering to different business needs.

Stripe, for instance, is known for its robust API and developer-friendly tools, while Square is popular among small businesses for its easy-to-use point-of-sale (POS) system and flat-rate pricing. Helcim offers transparent interchange-plus pricing, making it a suitable choice for businesses seeking cost-effective solutions.

Shopify POS is designed specifically for e-commerce businesses, providing seamless integration with the Shopify platform. Lastly, PayPal is a widely recognized and trusted payment processor, offering a range of services, including online payments, invoicing, and POS solutions.

Benefits of Using Payment Processors

Payment processors offer numerous benefits to businesses, including cost savings, efficiency improvements, and enhanced customer satisfaction. By choosing the right pricing model, businesses can save on transaction fees, especially those with large sales volumes.

Payment processors streamline the logistics of card payments, ensuring prompt and secure transactions, which in turn improves overall efficiency. Furthermore, offering multiple payment options through a reliable payment processor enhances the customer's shopping experience by providing convenience and security during transactions.

Other terms

Oops! Something went wrong while submitting the form.
00 items

User-generated Content

Learn about user-generated content, including how to leverage user-generated content, & benefits of user-generated content.

User-generated Content

Key Performance Indicators

Learn about key performance indicators, including identifying crucial KPIs for success, crafting effective KPI goals, KPIs vs. performance metrics: understanding the differences.

Key Performance Indicators

Deal Closing

Learn about deal closing, including strategies for successful deal closing, key elements of a strong close, & deal closing versus lead nurturing.

Deal Closing

Docker

Learn about Docker, including how Docker works, benefits of using Docker, Docker vs. virtual machines, & key Docker concepts.

Docker

Net 30

Learn about Net 30, including advantages of utilizing Net 30, implementing Net 30 in your business, & Net 30 vs. immediate payment terms.

Net 30

Affiliate Networks

Learn about affiliate networks, including introduction to affiliate networks, how affiliate networks work, & benefits of affiliate networks.

Affiliate Networks

ETL

Learn about ETL, including understanding the ETL process, steps in the ETL workflow, benefits of ETL in outbound sales, & ETL tools to consider.

ETL

B2C2B

Learn about B2C2B, including how B2C2B transforms sales, key strategies for B2C2B success, & differences between B2C2B and B2B2C.

B2C2B

Inside Sales

Learn about inside sales, including benefits of inside sales, key strategies for success, comparing inside and outside sales, & the future of inside sales.

Inside Sales

Trigger Marketing

Learn about trigger marketing, including implementing trigger marketing strategies, benefits of trigger marketing, trigger marketing vs. traditional marketing.

Trigger Marketing

Internal signals

Learn about internal signals, including identifying key internal signals, strategies for effective monitoring, & impact of internal signals on sales strategy.

Internal signals

Bounce Rate

Learn about bounce rate, including understanding bounce rate implications, key factors affecting bounce rate, & reducing your bounce rate effectively.

Bounce Rate

Marketing Automation Platform

Learn about marketing automation platform, including key benefits of marketing automation, & essential features of marketing automation platforms.

Marketing Automation Platform

Pain Point

Learn about pain point, including identifying pain points in sales, strategies to alleviate customer pain points, & pain points vs. customer needs.

Pain Point

FAB Technique

Learn about FAB technique, including implementing FAB in sales strategies, benefits of the FAB technique, & FAB vs. other sales techniques.

FAB Technique

Sales Territory

Learn about sales territory, including how to design an effective sales territory, & examples of successful sales territories.

Sales Territory

Sales Operations Analytics

Learn about sales operations analytics, including key components of sales operations analytics, & implementing sales operations analytics effectively.

Sales Operations Analytics

Lead Response Time

Learn about lead response time, including improving lead response time, the impact of quick response, & lead response time vs contact rate.

Lead Response Time

Sales Performance Metrics

Learn about sales performance metrics, including key components of sales performance metrics, & essential sales metrics to track.

Sales Performance Metrics

Firmographics

Learn about firmographics, including understanding firmographic data, key elements of firmographics, & utilizing firmographics for market segmentation.

Firmographics

Consultative Sales

Learn about consultative sales, including principles of effective consultative selling, & key benefits of consultative sales.

Consultative Sales

Mobile Optimization

Learn about mobile optimization, including understanding its importance, best practices, common mistakes, & future trends.

Mobile Optimization

Revenue Intelligence

Learn about revenue intelligence, including benefits of implementing revenue intelligence, & key components of revenue intelligence.

Revenue Intelligence

Cost Per Click (CPC)

Learn about CPC, including understanding it, CPC calculation, maximizing ROI with CPC, CPC vs. CPM, and its future trends.

Cost Per Click (CPC)

Competitive Landscape

Learn about competitive landscape, including analyzing your competitors, crafting your competitive edge, & key metrics for competitive analysis.

Competitive Landscape

OAuth

Learn about OAuth, including understanding OAuth workflows, benefits of using OAuth, & comparing OAuth with other authentication methods.

OAuth

B2B Sales Process

Learn about B2B sales process, including key components of B2B sales processes, & crafting an effective B2B sales strategy.

B2B Sales Process

Firewall

Learn about firewall, including how firewalls work, benefits of using firewalls, types of firewalls, & implementing a firewall strategy.

Firewall

Sales Development

Learn about sales development, including the role of a sales development rep, & building a successful sales development strategy.

Sales Development

Needs Assessment

Learn about needs assessment, including steps for conducting needs assessment, key components of needs assessment, & needs assessment vs. demand analysis.

Needs Assessment

Talk Track

Learn about talk track, including crafting an effective talk track, key elements of a talk track, & talk track vs. script: understanding the difference.

Talk Track

Cybersecurity

Learn about cybersecurity, including how cybersecurity works, benefits of strong cybersecurity, & best practices in cybersecurity.

Cybersecurity

Employee Engagement

Learn about employee engagement, including the importance of employee engagement, strategies for boosting engagement, employee engagement vs. employee satisfaction.

Employee Engagement

Real-time Data Processing

Learn about real-time data processing, including benefits of real-time data processing, best practices for implementation, & challenges and solutions.

Real-time Data Processing

Ad-hoc Reporting

Learn about ad-hoc reporting, including benefits of ad-hoc reporting, steps to create effective ad-hoc reports, & ad-hoc reporting vs. standardized reporting.

Ad-hoc Reporting

Lead Generation Software

Learn about lead generation software, including benefits of lead generation software, & key features of effective software.

Lead Generation Software

Quality Assurance

Learn about QA, including understanding QA in outbound sales, benefits of implementing QA, best practices for QA, and tools for effective QA.

Quality Assurance

A/B Testing

Learn about A/B testing, including benefits of A/B testing, planning your A/B test strategy, analyzing A/B testing results, & A/B testing best practices.

A/B Testing

Prospecting

Learn about prospecting, including strategies for effective prospecting, key principles of successful prospecting, prospecting vs. lead generation.

Prospecting

Marketing Qualified Account

Learn about marketing qualified account, including identifying marketing qualified accounts, key criteria for MQL accounts, & nurturing strategies for MQLs.

Marketing Qualified Account

B2B Demand Generation

Learn about B2B demand generation, including strategies for effective B2B demand generation, & key components of a demand generation program.

B2B Demand Generation

PPC

Learn about PPC, including understanding PPC metrics, benefits of PPC advertising, common PPC mistakes, & optimizing your PPC strategy.

PPC

Fulfillment Logistics

Learn about fulfillment logistics, including understanding fulfillment logistics, essential components, steps to optimize, & common challenges.

Fulfillment Logistics

Funnel Optimization

Learn about funnel optimization, including the stages of funnel optimization, key strategies for funnel improvement, funnel optimization vs. conversion optimization.

Funnel Optimization

Sales Champion

Learn about sales champion, including identifying your sales champion, qualities of an effective sales champion, sales champion vs. sales representative.

Sales Champion

Enrichment

Learn about enrichment, including benefits of data enrichment, steps to implement enrichment successfully, enrichment vs. data cleaning: understanding the differences.

Enrichment

Network Monitoring

Learn about network monitoring, including understanding network monitoring tools, & common challenges in network monitoring.

Network Monitoring

Customer Relationship Marketing

Learn about customer relationship marketing, including benefits of effective customer relationship marketing, strategies for building strong customer relationships.

Customer Relationship Marketing

Time on Site

Learn about time on site, including the importance of time on site, benefits of monitoring time on site, & strategies to improve time on site.

Time on Site

B2B Data Enrichment

Learn about B2B data enrichment, including benefits of B2B data enrichment, implementing B2B data enrichment strategies, B2B data enrichment vs. data cleaning.

B2B Data Enrichment

Software as a Service

Learn about software as a service, including benefits of SaaS solutions, SaaS vs. traditional software, & key features of successful SaaS.

Software as a Service

Customer Relationship Management Systems

Learn about customer relationship management systems, including benefits of using CRM systems, & key features of effective CRM solutions.

Customer Relationship Management Systems

Omnichannel Sales

Learn about omnichannel sales, including the benefits of omnichannel sales, crafting an omnichannel strategy, omnichannel vs. multichannel.

Omnichannel Sales

B2B Marketing Analytics

Learn about B2B marketing analytics, including key components of B2B marketing analytics, & getting started with B2B marketing analytics.

B2B Marketing Analytics

Intent Data

Learn about intent data, including sources of intent data, utilizing intent data effectively, & comparing intent data and traditional analytics.

Intent Data

Sales Prospecting Techniques

Learn about sales prospecting techniques, including essentials of effective prospecting, & crafting your prospecting strategy.

Sales Prospecting Techniques

Monthly Recurring Revenue (MRR)

Learn about MRR, including calculating it, the key factors that influence it, MRR vs. ARR, and strategies to grow your MRR.

Monthly Recurring Revenue (MRR)

Key Accounts

Learn about key accounts, including identifying key accounts criteria, strategies for managing key accounts, key accounts vs. regular accounts: understanding the differences.

Key Accounts

Unit Economics

Learn about unit economics, including calculating unit economics: step-by-step, key metrics in unit economics, & unit economics vs. overall profitability.

Unit Economics

Persona Map

Learn about persona map, including building an effective persona map, key elements of a persona map, persona map vs. target market.

Persona Map

Sales Acceleration

Learn about sales acceleration, including key concepts in sales acceleration, techniques for boosting sales, & role of technology in acceleration.

Sales Acceleration

Custom Metadata Types

Learn about custom metadata types, including benefits of using custom metadata, creating and managing custom metadata, & custom metadata vs. custom settings.

Custom Metadata Types

Process Automation

Learn about process automation, including types of process automation, benefits of process automation, how to implement automation, & challenges in automation.

Process Automation

Brand Loyalty

Learn about brand loyalty, including how to build brand loyalty, benefits of brand loyalty, measuring brand loyalty, & strategies for increasing loyalty.

Brand Loyalty

Sales Demonstration

Learn about sales demonstration, including preparing for a successful sales demo, crafting an engaging sales pitch, sales demo vs. sales presentation.

Sales Demonstration

Escalations

Learn about escalations, including understanding escalation triggers, key strategies for managing escalations, & escalations vs. standard operations.

Escalations

Intent-Based Leads

Learn about intent-based leads, including identifying intent-based leads, & strategies for nurturing intent-based leads.

Intent-Based Leads

Buying Cycle

Learn about buying cycle, including stages of the buying cycle, key influences on buying decisions, & enhancing the customer's buying journey.

Buying Cycle

Electronic Signatures

Learn about electronic signatures, including benefits of electronic signatures, & how to implement electronic signatures.

Electronic Signatures

Objection Handling in Sales

Learn about objection handling in sales, including strategies for effective objection handling, & key techniques in resolving sales objections.

Objection Handling in Sales

Video Prospecting

Learn about video prospecting, including benefits of video prospecting, crafting compelling video messages, & comparing video prospecting and email outreach.

Video Prospecting

Cold Calling

Learn about cold calling, including crafting effective cold calling scripts, the art of the follow-up call, cold calling vs. warm calling: u.

Cold Calling

Net Promoter Score

Learn about net promoter score, including calculating your net promoter score, improving your net promoter score, & net promoter score: pros and cons.

Net Promoter Score

Lead Generation

Learn about lead generation, including defining lead generation, inbound and outbound lead generation, & essential lead generation strategies.

Lead Generation

User Interaction

Learn about user interaction, including enhancing user interaction strategies, principles of effective user engagement, & user interaction vs. user experience.

User Interaction

Direct Mail

Learn about direct mail, including crafting an effective direct mail campaign, the benefits of direct mail in sales, direct mail vs. email marketing: a comparison.

Direct Mail

Open Rate

Learn about open rate, including maximizing your open rate, factors influencing open rates, & open rate vs. click-through rate.

Open Rate

Hadoop

Learn about Hadoop, including understanding Hadoop components, core functions of Hadoop, applications of Hadoop in sales, & Hadoop best practices.

Hadoop

Objection

Learn about objection, including understanding objections in sales, types of common sales objections, & handling objections effectively.

Objection

Dynamic Pricing

Learn about dynamic pricing, including how dynamic pricing works, benefits of dynamic pricing, & common strategies for dynamic pricing.

Dynamic Pricing

Product-Led Growth

Learn about product-led growth, including hallmarks of product-led growth, strategies for implementing PLG, & comparing PLG with sales-led approaches.

Product-Led Growth

Sales Metrics

Learn about sales metrics, including key types of sales metrics, essential components of sales metrics, & analyzing sales metrics effectively.

Sales Metrics

Closed Question

Learn about closed question, including crafting effective closed questions, advantages of closed questions, & closed vs. open questions.

Closed Question

Psychographics

Learn about psychographics in marketing, including understanding it, crafting psychographic profiles, & psychographics vs. demographics.

Psychographics

Dark Social

Learn about dark social, including the challenges of tracking dark social, strategies for leveraging dark social, & dark social vs. public social channels.

Dark Social

Data Pipelines

Learn about data pipelines, including overview of data pipelines, benefits for outbound sales, designing effective pipelines, and best practices for implementation.

Data Pipelines

Single Page Applications

Learn about single page applications, including benefits of single page applications, key features of SPAs, how to build SPAs, & common mistakes in SPAs.

Single Page Applications

Cost Per Impression

Learn about cost per impression, including calculating cost per impression, cost per impression vs cost per click, & improving your cost.

Cost Per Impression

Forward Revenue

Learn about forward revenue, including calculating forward revenue accurately, & the impact of forward revenue on decision-making.

Forward Revenue

Sales Enablement Technology

Learn about sales enablement technology, including key benefits of sales enablement technology, & essential features of sales enablement platforms.

Sales Enablement Technology

Video Messaging

Learn about video messaging, including benefits of video messaging in sales, crafting engaging video messages, & video messaging vs. traditional email.

Video Messaging

Data Mining

Learn about data mining, including introduction to data mining concepts, benefits of effective data mining, & data mining techniques and approaches.

Data Mining

Freemium

Learn about freemium, including benefits of a freemium model, freemium vs. premium: understanding the differences, key strategies for converting freemium users.

Freemium

Business-to-Business (B2B)

Learn about B2B, including what is it, its key elements, the benefits of B2B partnerships, the differences between B2B and B2C, and strategies for effective marketing.

Business-to-Business (B2B)

Database Management

Learn about database management, including key principles of efficient database management, & building a robust database architecture.

Database Management

Consumer

Learn about consumer, including role of consumers in economy, types of consumer goods and services, & factors influencing consumer choices.

Consumer

Return on Marketing Investment

Learn about return on marketing investment, including calculating your ROMI, key factors influencing ROMI, & maximizing ROMI in your strategy.

Return on Marketing Investment

Omnichannel Marketing

Learn about omnichannel marketing, including the benefits of omnichannel marketing, & key strategies for omnichannel success.

Omnichannel Marketing

Knowledge Base

Learn about knowledge base, including building an effective knowledge base, essential components of a knowledge base, differences between knowledge bases and databases.

Knowledge Base

Digital Sales Room

Learn about digital sales room, including benefits of a digital sales room, key features of digital sales rooms, & building an effective digital sales room.

Digital Sales Room