As more and more businesses move toward the convenience of electronic payments, business owners increasingly rely on their software company or developer to act as a trusted adviser regarding critical payment infrastructure decisions. And, while the software companies we work with can consistently be counted on to develop exceptional workflows and user experiences, most are not payment experts (and shouldn’t be in our opinion).
As a result, we’ve found it useful to provide some foundational information about the payments industry to help our partners navigate this often unfamiliar and ever-evolving landscape. To this end, PaymentsAPI.com is providing this series of ‘Payments 101’ posts to focus on the basic foundational elements necessary in understanding and translating the payments ecosystem and its infrastructure. Material will include multiple posts in several topics including:
Understanding Payment Tenders – the various methods used to transmit funds.
- What is Credit/Debit?
- What is ACH?
- What is Check Conversion?
- What is Remote Deposit Capture?
- What is Check Verification?
- What is Check Guarantee?
Understanding the Payment Ecosystem – a look at the players in the payments industry
Understanding Payment Security & Compliance – security for the payments industry
Understanding Payment Development Integration Options – a look at methodologies to implement payments
If you have any questions about this Payments 101 topic or have a specific question, you can reach us by completing our Contact Us form.
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