Enjoying what you’re reading? Sign up now.

Subscribe
Search

Quiz: How Well Do You Know Payment Processing?

Payment Processing
Article Highlights:
  • How well do you know the things you use every day?
  • Is your payment processor protecting you and your customers?

By Tim Eckert | July 6, 2021 | Business Office

Payment processing is a vital part of every business. It’s the PIN pad at the gas pump and the checkout portal on your favourite website. It’s how your customers pay for service visits, down payments, and more.

But do you know how it works?

It takes a lot to make sure the right payment card gets charged for the right amount at the right time all while protecting personal information to prevent costly data leaks.

Take this quiz to see if you know how payment processing works and how it helps your business.

What does point-to-point encryption do?
A fully equipped payment processor can support which kind of payments?
Where can payment processing be used in the dealership?
How can a thorough payment processor improve efficiency in the accounting department?
True or False: Payments on a credit card terminal can match the DMS 100% of the time.
How does tokenization work to protect card information?

 

Almost everyone uses some form of payment card regularly. Click here to learn more about how the payment processor you choose can impact your business.

Share this Article

Tim Eckert

Product Planning, Reynolds and Reynolds

Tim is a Product Planning manager at Reynolds and Reynolds for the
ERA-IGNITE platform, Business Office applications, Document Archiving solutions, Networking solutions, and ReyPAY®.

Related Articles:

Business Office

How to Run a Heart Healthy Dealership

How healthy is your heart? Not your physical one; but the heart of your dealership – the accounting office? You might not know the answer,…

Read More

Business Office

How to Pick the Right Payment Processor for Your Dealership

Payment processing does the crucial behind-the-scenes work associated with a purchase – securely routing encrypted payment data through your DMS to the bank and back…

Read More

Business Office

Subtract Bad Processes for Positive Cash Flow

If numbers, data, and equations excite you, you might work in the business office. Day in and day out, you live in a world of…

Read More
Keys to Reporting Success

Business Office | Dealership Wide

3 Keys to Reporting Success

Running a successful business is no simple task. It requires detail, planning, and strategy. And when you put it all into action, your dealership’s people,…

Read More