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Monday, 12 September 2022 23:36

What is Payment Processing

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A payment processor is a system that enables financial transactions, commonly employed by a merchant to handle transactions with customers from various channels such as credit and debit cards or bank accounts. This is usually done when you buy a product by swiping your card through a card reader, that processes the transaction and gives you a receipt for your purchase.

Credit and Debit cards are everywhere these days, and its the easiest way to pay for purchases. Quick and easy, the big advantage is that you don't have to carry cash. This also makes it easy for the merchant as well as they don't have to keep large amounts of cash on the premises, especially at weekends, when it's kept until it can be banked on the Monday.

To put it simply, it's quick, effective, less risk for the customer and merchant alike.  For taxi drivers, it means better safety, with the use of a mobile card reader, no cash needs to be carried on board thus less chance of theft.

This is also a bonus for all shops.  A card reader and little cash, means no chance of theft, and the merchant also has the option of his takings being paid into his bank next day.

With nearly everyone in the country carrying debit or credit cards, then it makes sense to use this simple payment system.  This is why Oxipay can supply the latest technology card payment processing machine at great rates for the merchant.

Read 1640 times Last modified on Tuesday, 13 September 2022 09:18

Info For Oxipay

Oxipay provides your business with cheaper rates meaning that you save on costs when people use your reader to make payments.

Oxipay has many payment solutions to take payments to match the type of business you have. Cost savings, Cheaper rates from Oxipay is what you need.

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