If your customer disputes a transaction with their bank, most payment processors charge you the bank fee and a fee of their own. We don’t pass on any of these fees to you. We also manage the time-consuming, stressful work of dealing with your customer’s bank for you. We’ve saved Square sellers $330 million since 2011 by managing and winning their disputes for them.
Payment service providers partner with acquiring banks and their payment processors to offer merchants the capability to accept payments. Payment Service Providers often offer services in addition to processing transactions. These services include Payment Card Industry Data Security Standard (PCI) compliance, fraud protection and the ability to process different currencies and translate different languages.
Payments are now evolving at a rapid pace with new providers, new platforms, and new payment tools launching on a near daily basis. As consumer behavior evolves, an expectation of omnicommerce emerges – that is the ability to pay with the same method whether buying in-store, online or via a mobile device. This shift precipitates a need for retailers to adapt toward fast, simple and secure mobile payments. What is a Payment Gateway - 3 Ways To Use a Merchant Account Gateway