Merchant processing is essential for transaction management. Whether you're a business owner seeking efficient payment solutions or a customer wanting smooth transactions, understanding this process is key. This article outlines the three core components: the merchant processor, the gateway, and Pike13. Understanding these elements enables businesses to manage payments effectively.
The Merchant Processor
In Pike13, merchant processor is the business you sign up with to process your payments. When a client pays for services through Pike13, your merchant processor processes the funds, retrieving them from the client’s bank account and depositing them into yours.
The Gateway
The gateway connects your chosen merchant processor to Pike13, ensuring secure and seamless payment transmission. The gateway is where your customers encrypted payment (credit card and ACH) information is stored, enhancing security by keeping it out of Pike13.
Pike13
Pike13 is the central platform for managing service-based businesses, including scheduling, billing, and client management. It sends transaction data to the gateway, which forwards it to the merchant processor. Pike13 then receives transaction information from the gateway, offering valuable insights and facilitating smooth operations.
Preferred Providers
Pike13 has preferred providers with their own gateways integrated into the system. These providers are vetted for compatibility and reliability. Contact your sales representative or onboarding specialist for more information.