One reason online payments are so complicated is that many players are involved. (Photo: Shutterstock)
When American consumers go to pay their bills, they prefer going online to mailing a check because it's simple. But for the businesses that serve them, it's not quite as easy. Here's some good advice for business owners who are considering it.
One reason online payments are so complicated is that eight players are involved. There's the cardholder, the credit card company, the merchant, their bank, the payment gateway, yet another bank, the credit card network and, finally, the Federal Reserve.
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