Payment is one of the most important steps in the consumer journey, and equally important for your company. After all, it is during the payment process that the transaction is approved, the funds are allocated and the purchase is actually made.
Most payment processes happen out of sight. Therefore, knowing all the steps of the process helps to make your management even more efficient and attentive to details.
In this article, we’ll explain everything about how the payment process works and how you can use it within your business. Keep reading!
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What is a payment process?
A payment process is the sequence of netherlands whatsapp number data that occur from the moment a customer makes a purchase until the payment is completed and the transaction is confirmed – passing through several agents during the approval and validation process.
This process involves different elements, such as selecting the payment method , entering the necessary information , authorizing the transaction and receiving the amount paid.
We can say that the payment process is fundamental to your sales flow , as it impacts the customer experience, as well as the internal logistics of your business.
Who are the agents in the payment process?
Within the payment process there are how important is it to create a website for your company? agents that make the internal processes of a payment.
These agents ensure that the transaction occurs properly and that participants – sellers and customers – have their payment approved as quickly as possible.
It is worth noting that this process occurs especially in purchases made using credit or debit cards. After all, other methods, such as Pix , have their own validation processes . Check it out:
Payment acquirer
Acquirers, also called acquirers, are business to consumer database that analyze. Process and settle financial transactions carried out using credit or debit cards.
They communicate with the card issuers and companies to process and validate transactions. Once the purchase is approved, the acquirer is responsible for receiving the money from the bank and transferring it to the merchant within the established time frame.
Generally, this period cannot extend beyond 31 days .