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According to Statista, in 2022, there were 2.8 In most cases, your payment software or point-of-sale (POS) will offer an app that allows you to take NFC payments from mobile wallets like Apple Pay, Samsung Pay or Google Pay. This technology uses magnetic signals to connect a mobile device with a nearby POS terminal.
Payment Gateway: A service provider that facilitates communication between the merchant’s POS system and the acquiring bank’s payment processing system. The merchant’s point-of-sale (POS) system sends an authorization request to the acquiring bank (also known as the merchant bank) via a payment gateway.
trillion in the US in 2022, accepting card payments is no longer a question of whether to, but how to. Terminal or equipment fees – Small businesses often lease or purchase payment processing equipment, such as point-of-sale (POS) systems or credit card terminals. Or paid for your groceries using hard cash?
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