Which term refers to services that allow businesses to accept various forms of payment?

The term that specifically refers to services that enable businesses to accept a range of payment methods is "Merchant services." These services encompass various tools and solutions that facilitate financial transactions, including credit card processing, point-of-sale systems, and online payment gateways. By using merchant services, businesses can provide customers with the flexibility to pay using different payment methods, such as credit cards, debit cards, and digital wallets, thereby enhancing the overall customer experience.

Merchant services often include additional features like fraud protection, transaction reporting, and customer support, which are essential for businesses to manage their sales effectively. This comprehensive suite of services is designed to help merchants conduct transactions smoothly and efficiently in a variety of settings, from physical stores to online platforms.

In contrast, other options like banking services and transaction services may not fully encompass the specific functionalities included in merchant services. While payment processing focuses on the mechanics of handling payments, merchant services provide a broader range of tools that merchants need to manage transactions and improve payment acceptance.