<ul><li>Payment processing involves completing a purchase using digital payment methods like credit cards or mobile wallets.</li><li>Acquirers or acquiring banks connect merchants to card networks, enabling businesses to accept payments.</li><li>Advanced technologies such as NFC, mobile wallets, chipped cards, cloud technology, AI, and blockchain power modern payment systems.</li><li>Security measures like encryption, tokenization, PCI compliance, and fraud detection are crucial in payment technology.</li></ul>

Payment Processing & Acquiring: Technology Behind Retail Transactions

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