Steps for Solving Processing Payments to Research Participants Homework Answers
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Research participant payment process meaning:
Processing Payments to Research Participants is a process which maintains a balance of the confidential information of human research and also maintains all the responsibilities. The list of the some of the most confidential documents are—
- Phone bills or other bills,
- Payments documents,
- Vouchers,
These documents are the most important things which matter the most in determining the research participant payment process. When a student faces it difficult to get the proper idea about the subject matter, the expert team of the assignment company guides him/her by giving a step-by-step solution of this subject.
Basic procedures to make payments to the research participants
Processing payments follow some basic procedures to make payments to research participants. The most important procedures that the process payments follow are—
- Direct payments only by checks.
- Payments made by cash.
- Payments by P-cards or procurement card that is the best to make purchase gift certificates or any gift cards or any other asset.
- Cash repayments and refunds.
These basic procedures help in determining the payments to research participants.When the problem becomes very tough to solve,then the processing payments to research participants homework answers, help to get a proper idea.
What do mean by payment processing?
It is a service that allows the merchants to sell online and all accepted payments are made through electronic methods like debit cards, credit cards or the bank transfers. Payment processing is one of the best technical connection between the merchants and the financial institutions which govern different types of payment methods. You will not get paid unless any payment service providers.
Payment service providers will help you in many ways—
- You may access domestic or international payment gateway. You may access online or your mobile or phone payments for your payments as you wish for your payments.
- You may activate different payment methods from several acquirers with one contract so that you can offer the customers more of all local payment methods.
- To avoid any fraudulent transactions, you may take advantage of advanced fraud prevention solution so that you can save your business.
What happens when you fail to pay with your cards?
The most important thing that the customers face in case of payment is whether or not the customers are able to use his /her card. It is not the merchant’s responsibility to discuss the customers why the card was declined. The customer should use the customer service contact information to get the information about the decline of the card. In this context three important things are-
Authorization:
It is the process by which a customer get confirmation whether he/she has sufficient credit on his or her credit card to purchase goods and services from the merchants. It also confirms whether your card is valid or not.
You can achieve the authorization from a credit card machine or e-commerce website or through your phone. The concept of authorization is important because, without it, you can not accept the customer’s payment.
Settlement:
It is the most common process of managing e-payment transactions so that your customers can clear and able to fund. To make it happen, the merchant should present approved card transactions to chase. Payment should be cleared through the interchange. This type of transaction is also known as the deposit transactions.
Funding:
Funding and Settlement are interchangeable i.e. both of them are almost in same in meaning.
The difference between Incentives and compensation:
If you think that is there really any difference between these two, the processing payments to research participants homework answers will help you to distinguish these two concepts.
- Incentives-
This is the small amount of payment which is given to any participant to encourage him or her to take part in research. It is the low-valued payment system that gives courage to the participant in research. In order to consider an incentive, the payment should be provided to the person in the study.
- Compensation-
Compensation is the fees that are provided to the participant in any research activity in the form of reimbursement of services. Payment in research activity should be recorded in the form of compensation. Payment methods may be checks, cash, personal property, etc.
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