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Glossary: 117 software-led payments terms to know

Payrix

Terms related to card acceptance Acceptance marks Signifies which payment brands are accepted at a merchant location and provides the cardholder with information on where his or her card can be used. Payment gateway Facilitates the transfer of information between a payment portal and the front-end processor or acquiring bank.

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8 Top Stripe Alternatives: In-Depth 2023 Guide

FastSpring

A MoR also takes the lead on chargebacks, tax audits, legal compliance, and more. PayPal for Business: Available on Major eCommerce Platforms. Finally, you’ll need to maintain a large team of tax and legal experts to maintain global compliance (because solutions like Stripe don’t help with any legalities).

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Using a Gaming Payment Gateway to Monetize Your Game’s Web Shop

FastSpring

How a merchant of record like FastSpring can handle all the complexities of global payments for you, even taxes and compliance. Spend less time managing your payments and compliance and more time making great games! You don’t need to worry about compliance if you’re using a merchant of record — because the MoR is already handling it.

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How to Choose Between EFT vs ACH: A Comprehensive Guide

Stax

EFT is the umbrella term for all electronic transactions that transfer funds digitally between bank accounts using only bank account information. For example, ACH transfers use the Automated Clearing House network, while debit card transactions rely on either a card network (Visa or Mastercard) or a payment processor (Paypal, Stripe, etc.).

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Top 10 International Payment Gateways: An In-Depth Guide

FastSpring

Payment processors verify that all necessary information is present and in the correct format and then carry it to the issuing bank or credit card network for final authorization. The checkout screen isn’t clearly labeled as secure so the customer doesn’t feel safe entering personal information. Easy to access self-serve portal.

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What is Click to Pay and How Does It Work?

Stax

Research shows that 55% of customers will abandon their cart if they have to re-enter checkout information like credit card details, negatively affecting your business conversion rate. Click to Pay completely removes the need to enter credit card information during online purchases, making it more convenient and faster than manual card entry.

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How to Choose the Best Billing Software for Your Business

Subscription Flow

Compliance with financial laws Calculating your tax, and then making sure that you are compliant with all the relevant tax laws is something that you have to do often. If your data is scattered across a number of spreadsheets, retrieving accurate information on time can be very challenging. Does it offer automated compliance?