Our first financial step for companies is creating a business account. It’s needed for transferring and receiving money, ordering debit and credit cards, etc. What about step two? If you offer products or services, acquire a merchant account. However, you must first understand merchant processing and processing systems. Check out the following article, and learn everything about business payment processing.

Business payment systems include processing

Merchant financial services include numerous factors. Companies need payment processing to accept consumer payments. Merchants receive payments via a complicated system of operations and organizations.  First, let’s look at the firms and entities that accept payments, then the procedure itself.

Merchant financial services include various entities and processes involved in accepting and processing consumer payments. Here is a breakdown of these factors:

1. Merchant: A merchant is a company or individual that sells products or services online. They need payment processing services to enable customers to make purchases.
2. Clients: Clients are the individuals or corporations who purchase goods or services from merchants. They make payments for their purchases.
3. Issuing Bank: The issuing bank is the financial institution that provides debit or credit cards to customers. These cards are used by clients to make payments to merchants.
4. Acquiring Banks/Merchant Banks: Acquiring banks, also known as merchant banks, work with merchants to facilitate the acceptance of payments. They provide merchant accounts and handle the settlement of funds between the merchant and the various parties involved in the payment process.
5. Payment Processor: Payment processing firms play a crucial role in handling customer transactions. They receive payment data from the merchant and transmit it to the relevant parties for authorization and settlement. Payment processors ensure that the payment is secure and correct, facilitating a smooth transaction process.
6. Payment Gateway: A payment gateway that delivers customer card data to a processor. A payment gateway might be part of a payment processor or a separate supplier. Learn how to make a payment system in this post. 

Overall, these entities work together to enable merchants to accept and process payments from clients, ensuring a seamless and secure financial transaction process.

Business payment processing: all stages

Sure! Here is a more detailed breakdown of the processing solutions involved in the example:

1. Client Interaction:
   • Clients visit your website and browse through your candle products.
   • They select the candles they want and add them to their basket.
2. Checkout Process:
   • At the checkout page, clients choose a payment method, in this case, a debit card.
   • They fill out their payment information, including card details and personal details.
   • Once all the required information is provided, they place the order.
3. Payment Data Transmission:
   • The merchant receives the order and securely transmits the payment details to the payment processor.
   • The payment processor acts as an intermediary between the merchant, card associations (such as Visa or Mastercard), and the client’s debit card bank.
4. Encryption and Data Security:
   • The payment processor receives the data and encrypts it to ensure its security.
   • The encrypted data is then sent to the payment gateway, which is responsible for transmitting the data to the card association and the client’s debit card bank.
5. Authorization and Authentication:
   • The payment processor contacts the relevant card association and the client’s debit card bank.
   • The card association verifies the transaction details and communicates with the client’s bank to check the availability of funds.
   • The client’s bank checks the transaction request against predetermined criteria (e.g., fraud detection, available funds).
   • If the criteria are met, the bank approves the transaction; otherwise, it may deny it.
6. Transaction Outcome Notification:
   • If the transaction is successful, the client’s bank notifies the merchant’s bank (known as the acquiring bank) about the approved payment.
7. Funds Transfer:
   • The acquiring bank updates the merchant on the successful transaction.
   • The purchase funds are remitted to the merchant’s account, typically within a specified time period.

   Throughout this entire process, secure and efficient technology and infrastructure, such as the payment gateway, encryption software, and fraud detection mechanisms, ensure the integrity of the transaction. Processing solutions provide merchants with tools and analytics to manage their sales and business operations effectively, while providing customers with a seamless payment experience.

Need business payment services?

In addition to its comprehensive range of white label payment solutions, Akurateco also offers robust security features to ensure the safety and protection of financial transactions. These security measures include data encryption, fraud prevention tools, and real-time monitoring capabilities.

Akurateco’s payment solutions are designed to be highly customizable, allowing PSPs to tailor the software to meet their specific needs and requirements. This flexibility enables PSPs to create a unique and differentiated offering in the market, ultimately attracting more merchants and driving revenue growth.

Furthermore, Akurateco’s platform is built with scalability in mind, meaning it can easily accommodate the growing needs of PSPs as their business expands. This scalability ensures that PSPs can handle increasing transaction volumes without compromising on performance or user experience.

To support its clients, Akurateco provides dedicated technical support and customer service. This ensures that PSPs have access to expert assistance whenever they need it, guaranteeing a smooth and seamless operation of their payment systems.

Overall, Akurateco’s white label payment solutions offer a powerful and flexible foundation for PSPs to establish and grow their payment processing businesses. With its advanced features, robust security, scalability, and dedicated support, Akurateco is an ideal partner for PSPs looking to innovate and excel in the financial technology sector.

The system allows PSPs to integrate cutting-edge payment methods, such as:

• Intelligent payment routing
• Cascading
• Automated merchant onboarding
• Fraud prevention
• Tokenization
• Built-in payment platform analytics
• Smart billing

More than 300 different acquirers and payment providers are already accessible to merchants via Akurateco’s white label payment gateway with only one integration. Additionally, when customers request additional connections, the organization has a history of quickly developing them.

Akurateco is a cutting-edge supplier of payment software that addresses each client’s unique requirements by creating a personalized solution. Plus, the system is adaptable to many deployment models, allowing clients to use it in SaaS, on-premise, or cloud environments. The business also provides Payment Team as a Service, which is available 24/7 and gives full assistance and direction.

A corporate explainer video is a short and animated video that explains the core value of your company or product. It’s like a sales pitch. However, instead of just telling people why they should buy what you have to offer, an explainer video shows them with an engaging narrative that keeps their attention. For example, if you are selling an app that helps businesses boost productivity by using software bots, it might be helpful to show some examples of how this works in practice. If your business is focused on providing mobile apps for restaurants or food trucks then it would make sense to showcase how easy it would be for customers to order food through their smart devices rather than waiting in line and trying to talk with someone face-to-face.

Importance of engaging animation

Animated explainer videos are powerful tools for explaining complex concepts. They help customers understand your product or service, build brand recognition and increase sales.

Animation is also an excellent way to engage customers and build trust in your company’s message – especially when you’re trying to communicate something complex like a new technology or concept that customers aren’t familiar with (like how blockchain works).

If you want your explainer video to be effective at engaging viewers, then it needs to be visually appealing with clear communication of what the viewer can expect from using your product or service.

Key components of a corporate explainer video

A corporate explainer video is a great way to educate and engage customers. It’s also an effective way to build brand recognition, as well as one of the most effective marketing tools available today.

Corporate explainer videos can be used for many different purposes, including:

• Educating your audience about your product or service
• Explaining how your product or service works in detail so that potential buyers understand why it’s better than what they already use (or don’t)
• Telling the story behind how you came up with an idea for something new in your industry

Choosing the right animated corporate explainer video companies

When it comes to choosing the right animated explainer video company, there are a few things you should look for. The first thing is a proven track record of creating high-quality videos in your industry. If they’ve never made an explainer video before, then they probably don’t know what they’re doing!

Second, look for companies that have experience with your type of business and the audience you’re trying to reach. You want someone who understands what makes your business unique and how people interact with it online or offline (if applicable).

Thirdly, make sure you choose an explainer video company with a great reputation and testimonials from other clients this will help reassure potential customers that their work will be top notch!

Benefits of corporate explainer videos

Corporate explainer videos are an effective way to increase brand awareness, sales, customer engagement and more. Let’s take a look at some of the benefits of using corporate explainer videos:

• Increases brand awareness: When you’re trying to get your name out there in a crowded marketplace, it can be tough to stand out from the competition. Explainer videos help you do just that by creating an instant connection between your business and its audience through storytelling and relatable characters who represent who you are as a company.
• Increases sales: Explainer videos can also drive sales by helping customers understand what sets your products or services apart from others on the market today or why they should buy something from you instead of someone else! This helps build trust between potential buyers and sellers (you!), which leads directly into increased conversions down the line in other words: more money flowing into both parties’ pockets!

The role of animated explainer video companies

Animated explainer videos are among the most effective means of communicating a message. They’re also one of the most engaging ways to attract and retain viewers with their ability to break down complex ideas into easily digestible pieces.

However, creating an animated explainer video companies is not as simple as it may seem there are many factors that go into crafting a compelling corporate explainer video, including:

• The tone and style of your brand’s messaging (i.e., how you want your audience to feel about your brand)
• The length of time you want each scene to last before transitioning into another scene or shot (i.e., how long each segment should last)

While these elements may seem straightforward enough at first glance, they can quickly become overwhelming when considering all of them at once! That’s why it’s important for marketers who wish to create an effective animated explainer video take time before starting production; doing so will ensure success later down the line when posting online ads or sharing links via social media platforms like Facebook Ads Manager or Instagram Stories which allow users access directly into their own accounts without needing permission from anyone else first.

Future trends in corporate explainer video

As you can see, the world of explainer videos is constantly changing. It’s up to you as a brand owner to keep up with these changes by staying on top of the latest trends and best practices for creating compelling corporate explainer videos.

This will allow you to create an explainer video that meets all of your needs from marketing objectives to educational goals and helps your business succeed in today’s competitive landscape!

Encouraging businesses to invest in quality explainer videos

Explainer videos are a great way to educate your customers and build brand awareness. They can also help you increase sales, customer retention and loyalty.

In fact, according to Hubspot’s State of Marketing 2019 report, “explainer video viewers are 2x more likely than non-viewers (83% vs 42%) to make a purchase from the same brand within 6 months.”

An animated explainer video is one of the best ways to engage customers and build brand recognition. Animated explainer videos are effective in explaining complex concepts, like how a new product works or what makes your business different from competitors.

Animated explainer videos can also be used to introduce a new service or product before it’s available for sale, giving potential customers an early glimpse into what they will get when they buy from you. This helps drive sales by building excitement around the launch date so that people are ready and waiting when it arrives!

Conclusion

The key to a successful corporate explainer video is to make it engaging and memorable. A great way to do this is by using animation, which can help bring your brand’s message to life in a way that words alone cannot. Animation also gives viewers something interesting to look at while listening or reading along with what they hear.