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As businesses grow, finance teams often struggle to manage the added complexity and exponential increase in the volume of invoices. When teams lack access to a solution to help streamline these tasks, errors creep in and bottlenecks form, resulting in decreased efficiency and more customer churn.
Payment gateways are vital to helping finance teams process e-commerce transactions securely. That’s why it’s critical to develop an understanding of how they work and what sets one apart from the others.
Payment gateways follow a five-step approach to help process transactions:
For more information on payment gateways, including an overview of the different types and an explanation of what happens if a payment fails, check out the full blog here.
The post How payment gateways work (FAQs answered) appeared first on ERP Software Blog.
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