Unlock Explosive Growth in 2025: 6 Payment Systems Every Small Business Owner Needs to Dominate the Market Now!
A payment system is a platform, network, or technology that facilitates the transfer of money between a buyer and a seller, enabling transactions in exchange for goods or services.
Payment systems can include credit card processors, online payment gateways, mobile wallets, and even bank transfer networks, all designed to securely and efficiently move funds.
Payment systems aren’t:
- Banks: Payment systems move money but don’t hold deposits or offer loans like traditional banks.
- Accounting platforms: They process transactions but don’t handle bookkeeping, taxes, or full financial reporting.
- Marketplaces: Payment systems enable transactions but don’t create listings, sell products, or match buyers and sellers.
- Payment methods: A payment system supports methods like credit cards or Apple Pay, but isn’t a method itself.
Key Factors to Consider When Selecting a Payment Method
Now we’ve got the housekeeping out of the way, let’s take a look at the key factors to consider when selecting a payment method.
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