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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. Data breach Unintentional release of secure information (i.e., E2EE is a generic term to describe solutions that encrypt data from one endpoint to another endpoint.

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

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Encryption techniques ensure that payment data is transmitted securely between parties, making it difficult for unauthorized individuals to intercept or access sensitive information. mPOS systems work through smartphones, tablets, and other wireless devices to accept payments from anywhere. What makes mobile POS systems unique?

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The 7 Best Mobile POS Systems for Small Businesses in 2024

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Today, they’re known for their robust services, enhanced security, user-friendly interfaces, and the integration of advanced data analytics. And they come with many powerful business solutions, from real-time data access to invaluable inventory management capabilities. Features like customer data collection (e.g.,

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Tap to Pay: What It Is and How It Works

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This short-range wireless communication technology allows data exchange between devices close to each other, typically within a few centimeters. Data transmission: The NFC antennas in both devices communicate with each other. This dynamic data makes it difficult for attackers to reuse intercepted information for fraud.

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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. Data breach Unintentional release of secure information (i.e., E2EE is a generic term to describe solutions that encrypt data from one endpoint to another endpoint.

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

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The system generates a one-time encrypted code for each transaction, preventing fraudsters from stealing payment data. Near-field communication payments Near-field communication enables devices to interact and transfer data through close-range connections ( not more than 20 centimeters ). PayPal, Venmo, and Alipay).