Recruiter's Glossary

Examples: SKU (Stock Keeping Unit) • Reorder Point • Last In First Out (LIFO)

Payment Processing

Term from Ecommerce industry explained for recruiters

Payment Processing refers to the systems and methods that allow businesses to accept money from customers online. It's like a digital cash register that handles credit cards, digital wallets (like PayPal), and other forms of electronic payment. When someone talks about payment processing experience, they typically mean working with systems that securely handle transactions, manage refunds, and ensure money moves safely between customers and businesses. Common payment processing systems include Stripe, Square, and PayPal. This is a crucial part of any online store or e-commerce business, as it's how the business actually gets paid.

Examples in Resumes

Implemented Payment Processing solutions using Stripe for an e-commerce platform

Managed Payment Processing systems handling over $1M in monthly transactions

Integrated multiple Payment Processing providers to improve checkout experience

Reduced cart abandonment by optimizing Payment Processing workflow

Typical job title: "Payment Processing Specialists"

Also try searching for:

Payment Solutions Specialist E-commerce Payment Manager Payment Systems Analyst Payment Integration Specialist Payment Operations Manager Payment Technology Specialist

Where to Find Payment Processing Specialists

Online Communities

Professional Networks

Industry Events

Example Interview Questions

Senior Level Questions

Q: How would you handle a situation where a payment system goes down during peak sales hours?

Expected Answer: Look for answers that demonstrate experience in crisis management, knowledge of backup systems, and ability to minimize revenue loss while maintaining customer satisfaction. Should mention communication with stakeholders and having contingency plans.

Q: What strategies would you implement to reduce payment fraud?

Expected Answer: Should discuss different types of fraud prevention measures, risk assessment, and balance between security and user experience. Experience with chargeback management and fraud detection tools is important.

Mid Level Questions

Q: What factors do you consider when choosing a payment processor for an e-commerce business?

Expected Answer: Should mention transaction fees, supported payment methods, integration complexity, security features, and geographical availability. Understanding of business needs and budget constraints is important.

Q: How do you ensure PCI compliance in payment processing?

Expected Answer: Should explain basic security requirements for handling credit card data, importance of using certified payment providers, and regular security audits. Understanding of data protection basics is key.

Junior Level Questions

Q: What are the basic steps in processing an online payment?

Expected Answer: Should be able to explain the simple flow from customer entering payment details to money appearing in merchant account, including basic security measures and confirmation processes.

Q: What are different types of payment methods used in e-commerce?

Expected Answer: Should list common payment methods like credit cards, PayPal, digital wallets, and bank transfers, showing basic understanding of online payment options.