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Glossary: 117 software-led payments terms to know

Payrix

Authentication The process of assuring that data has come from its claimed source, or a process of corroborating the claimed identity of a communicating party. eCheck, PayPal, etc.) Valid authorization Authorization for the correct amount of a sale and obtained within a specified number of days before the sale transaction is submitted.

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Digital Payments: 12 Digital Payment Options to Consider Accepting in Your Business

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mPOS systems work through smartphones, tablets, and other wireless devices to accept payments from anywhere. Wireless devices allow business owners more flexibility. Contactless payments are powered by near-field communication (NFC) technology. Contactless payments are powered by Near-Field Communication (NFC) technology.

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The 7 Best Mobile POS Systems for Small Businesses in 2024

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Some may still want to allow magstripe card payments, but near-field communication (NFC) compatibility is non-negotiable for 2024 and beyond. PayPal Zettle PayPal Zettle is PayPal’s mobile POS solution, known for its simplicity and integration with PayPal’s wider range of payment services.

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Tap to Pay: What It Is and How It Works

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How Tap to Pay Works Tap-to-pay, whether used with a contactless card or a smart device, operates through Near Field Communication (NFC) technology. This short-range wireless communication technology allows data exchange between devices close to each other, typically within a few centimeters. Q: How does tap to pay work?

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Glossary: 117 software-led payments terms to know

Payrix

Authentication The process of assuring that data has come from its claimed source, or a process of corroborating the claimed identity of a communicating party. eCheck, PayPal, etc.) Valid authorization Authorization for the correct amount of a sale and obtained within a specified number of days before the sale transaction is submitted.

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The Most Common Types of Contactless Payment Methods and How They Work

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Near-field communication payments Near-field communication enables devices to interact and transfer data through close-range connections ( not more than 20 centimeters ). Radiofrequency identification payments Radio Frequency Identification (RFID) is a wireless communication technology like NFC. Static QR codes.