Understanding the Concept of Push Payment Method in Countertop Card Machines
A push payment in countertop card machines is any financial exchange that starts with the sender instead of the receiver. A customer might swipe a credit card at the register or choose to pay with a digital wallet at a web checkout as everyday examples. If your insurance company pays you $60,000, that's a push payment because the money went straight to your bank account. For the same reason, taking money out of an ATM is also a push payment because you initiated the transaction request. How push payment methods work in countertop card machines? Digital payments, like those made through a payment platform or an electronic funds transfer (EFT), may be where you hear the term "push payments" now more often. You could send your partner $400 through Venmo, which is a peer-to-peer internet payment service. Now, let's look at a safer way to do business: paying with a credit card when you receive things. These are the steps of that push payment. 1. T...